Affordable Housing In Franklin
Williamson County, Tennessee

4 Low Income Apartment Communities In Franklin

Reddick Street Apartments

145 Strahl St
Franklin, Tennessee
Call For Rent
1-2 BR
Accepts Vouchers

Harpeth Hills Apartments Phase II

300 Sycamore Dr
Franklin, Tennessee
Income Based
1-3 BR
Subsidized

Chpwc Franklin 9

248 Chestnut Ln
Franklin, Tennessee
Accepts Vouchers

600 Cherokee Pl

600 Cherokee Pl
Franklin, Tennessee
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Housing Authorities that serve Franklin

Housing Authority Programs
Franklin Housing Authority Public Housing
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher (HCV); Mainstream Voucher
Tennessee Housing Development Agency South Central Tennessee Office Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Franklin, Tennessee

There are 4 low income housing apartment communities offering 376 affordable apartments for rent in Franklin, Tennessee.

Income Based Apartments in Franklin, Tennessee

Franklin features 303 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 Franklin, Tennessee

There are 73 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin.

Housing Choice Vouchers in Franklin, Tennessee

On average, Section 8 Housing Choice vouchers pay Franklin landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Franklin.

The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin, Tennessee for a two-bedroom apartment is between $1,022 and $1,250.

2020 Franklin, 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 $898 $957 $1,136 $1,484 $1,822
Payment Standard Range $808 to $988 $861 to $1,053 $1,022 to $1,250 $1,336 to $1,632 $1,640 to $2,004

Sourced from federal housing data and AffordableHousingOnline.com research.

Franklin, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 376
Total Housing Units with Rental Assistance 303
Percentage of Housing Units Occupied By Renters 32.53%
Average Renter Household Size 2.13
Average Household Size 2.60
Median Household Income $85,671 ±$3,306
Median Rent $1,143 ±$41
Percentage Of Renters Overburdened 39.17% ± 4.88pp
Total Population 68,549

Population and Household Demographics

Franklin is a City in Williamson County, Tennessee with a population of 68,549. There are 26,228 households in the city with an average household size of 2.60 persons. 32.53% of households in Franklin are renters.

Income and Rent Overburden in Franklin

The median gross income for households in Franklin is $85,671 a year, or $7,139 a month. The median rent for the city is $1,143 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Franklin, a household making less than $3,810 a month would be considered overburdened when renting an apartment at or above the median rent. 39.17% of households who rent are overburdened in Franklin.1

Area Median Income In Franklin

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 Franklin, the AMI is calculated from all households within Williamson County.

In Franklin, HUD calculates the Area Median Income for a family of four as $80,000

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 Franklin

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 Franklin

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,800 $19,200 $21,600 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $28,000 $32,000 $36,000 $40,000 $43,200 $46,400 $49,600 $52,800
80% of Median $44,800 $51,200 $57,600 $64,000 $69,150 $74,250 $79,400 $84,500