Affordable Housing In Farragut
Knox County, Tennessee

Section 8 Vouchers, Apartments, and Waiting Lists in Farragut, Tennessee

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Farragut, Tennessee

Housing Authority Programs
Tennessee Housing Development Agency Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency; Mainstream Voucher; Homeownership

Guide To Affordable Housing in Farragut, Tennessee

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Farragut, Tennessee.

Income Based Apartments in Farragut, Tennessee

Farragut features 0 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Farragut, Tennessee

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Farragut.

Housing Choice Vouchers in Farragut, Tennessee

On average, Section 8 Housing Choice vouchers pay Farragut landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Farragut.

The maximum amount a voucher would pay on behalf of a low-income tenant in Farragut, Tennessee for a two-bedroom apartment is between $882 and $1,078.

2022 Farragut, Tennessee Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Farragut, Tennessee Fair Market Rent $717 $800 $980 $1,287 $1,512
Farragut, Tennessee Payment Standard Range $645 to $789 $720 to $880 $882 to $1,078 $1,158 to $1,416 $1,361 to $1,663

Sourced from federal housing data and AffordableHousingOnline.com research.

Farragut, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 11.09%
Average Renter Household Size 2.36
Average Household Size 2.82
Median Household Income $107,590 ±$5,784
Median Rent $1,018 ±$191
Percentage Of Renters Overburdened 39.26% ± 13.28pp
Total Population 21,374

Population and Household Demographics

Farragut is a city in Knox County, Tennessee with a population of 21,374. There are 7,508 households in the city with an average household size of 2.82 persons. 11.09% of households in Farragut are renters.

Income and Rent Overburden in Farragut

The median gross income for households in Farragut is $107,590 a year, or $8,966 a month. The median rent for the city is $1,018 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Farragut, a household making less than $3,393 a month would be considered overburdened when renting an apartment at or above the median rent. 39.26% of households who rent are overburdened in Farragut.

Area Median Income In Farragut

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Farragut, the AMI is calculated from all households within Knox County.

In Farragut, HUD calculates the Area Median Income for a family of four as $84,400

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Farragut

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Farragut

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Farragut AMI may qualify for rental assistance programs that target Extremely Low Income households.
$17,150 $19,600 $23,030 $27,750 $32,470 $37,190 $41,910 $46,630
50% AMI Income Limits
Renters earning up to 50% of the Farragut AMI may qualify for rental assistance programs that target Very Low Income households.
$28,600 $32,650 $36,750 $40,800 $44,100 $47,350 $50,600 $53,900
80% AMI Income Limits
Renters earning up to 80% of the Farragut AMI may qualify for rental assistance programs that target Low Income households.
$45,750 $52,250 $58,800 $65,300 $70,550 $75,750 $81,000 $86,200