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Affordable Housing In Finger
McNairy County, Tennessee

Housing Authorities that serve Finger

Housing Authority Programs
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher (HCV); Mainstream Voucher
Tennessee Housing Development Agency West Tennessee Office Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Mainstream Voucher

Guide To Affordable Housing in Finger, Tennessee

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

Income Based Apartments in Finger, Tennessee

Finger 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 Finger, Tennessee

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

Housing Choice Vouchers in Finger, Tennessee

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Finger, Tennessee for a two-bedroom apartment is between $584 and $714.

2020 Finger, 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
Fair Market Rent $492 $513 $649 $856 $1,139
Payment Standard Range $443 to $541 $462 to $564 $584 to $714 $770 to $942 $1,025 to $1,253

Sourced from federal housing data and research.

Finger, 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 21.43%
Average Renter Household Size 2.63
Average Household Size 2.98
Median Household Income $34,167 ±$12,679
Median Rent $438 ±$302
Percentage Of Renters Overburdened 18.52% ± 47.29pp
Total Population 376

Population and Household Demographics

Finger is a city in McNairy County, Tennessee with a population of 376. There are 126 households in the city with an average household size of 2.98 persons. 21.43% of households in Finger are renters.

Income and Rent Overburden in Finger

The median gross income for households in Finger is $34,167 a year, or $2,847 a month. The median rent for the city is $438 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Finger, a household making less than $1,460 a month would be considered overburdened when renting an apartment at or above the median rent. 18.52% of households who rent are overburdened in Finger.

Area Median Income In Finger

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 Finger, the AMI is calculated from all households within McNairy County.

In Finger, HUD calculates the Area Median Income for a family of four as $48,200

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 Finger

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 Finger

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,760 $17,240 $21,720 $26,200 $29,600 $31,800 $34,000 $36,200
50% of Median $19,200 $21,950 $24,700 $27,400 $29,600 $31,800 $34,000 $36,200
80% of Median $30,700 $35,100 $39,500 $43,850 $47,400 $50,900 $54,400 $57,900