Low Income Apartments In Franklin County
Tennessee

Low Income Apartments In Franklin County

Kc Home of Cowan

214 England St W
Cowan, TN
62+
Accessible
Elderly Supportive Housing
Subsidized

Ridgecrest Group Home

2nd Fairmont Ave
Monteagle, TN
62+
Accessible
Elderly Supportive Housing
Subsidized

Mountain View Apartments

631 Click Rd
Cowan, TN
Subsidized

Sunny View Apartments

205 8th Ave
Winchester, TN
Subsidized

Cumberland Place Apartments

3901 Cowan Hwy
Winchester, TN
Subsidized

Golden Heights Apartments CO Winston Maxwell

1 Hospital Rd
Winchester, TN

Monteagle Greene Apartments

48 Madison Ave
Monteagle, TN
HCV Welcome

Cedar Ridge Apartments

41A Hwy 64
Cowan, TN
HCV Welcome

Woodland Ridge Apartments

RR 1 Box 2773
Monteagle, TN
HCV Welcome

Mallard Cove Apartments

314 Old Winchester Rd
Decherd, TN
Subsidized

There are 12 low income housing apartment complexes which contain 589 affordable apartments for rent in Franklin County, Tennessee. Many of these rental apartments are income based housing with about 449 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 123 Project-Based Section 8 subsidized apartments in Franklin County. There are 140 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Franklin County

Housing Authority Programs
Franklin Housing Authority Public Housing; Section 8 Project-Based Voucher
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher
Tennessee Housing Development Agency South Central Tennessee Office Section 8 Housing Choice Voucher

Other Housing Authorities located in Franklin County

Housing Authority Programs
Grundy Housing Authority Public Housing

Guide To Affordable Housing in Franklin County, Tennessee

Franklin County, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 12
Total Low Income Apartments 589
Total Rent Assisted Apartments 449
Percentage of Housing Units Occupied By Renters 26.06%
Average Renter Household Size 2.50
Total Population 41,138
Housing Units 16,302
Average Household Size 2.40
Median Household Income $42,773 ±$2,204
Median Rent $599 ±$54
Percentage Of Renters Overburdened 32.58% ± 5.27pp

Population and Household Demographics

Franklin County is a County in Tennessee with a population of 41,138. There are 16,302 households in the county with an average household size of 2.40 persons. 26.06% of households in Franklin County are renters.

Income and Rent Overburden in Franklin County

The median gross income for households in Franklin County is $42,773 a year, or $3,564 a month. The median rent for the county is $599 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Franklin County, a household making less than $1,997 a month would be considered overburdened when renting an apartment at or above the median rent. 32.58% of households who rent are overburdened in Franklin County.1

Area Median Income In Franklin County

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.

In Franklin County, HUD calculates the Area Median Income for a family of four as $53,900

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 County

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 Franklin County HUD Rental Assistance in Franklin County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,140 $16,460 $20,780 $25,100 $29,150 $31,300 $33,450 $35,600
50% of Median $18,900 $21,600 $24,300 $26,950 $29,150 $31,300 $33,450 $35,600
80% of Median $30,200 $34,500 $38,800 $43,100 $46,550 $50,000 $53,450 $56,900
Low Income Housing Tax Credits in Franklin County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1987 to 2005, 3 low income apartment communities containing 119 rental apartments have been constructed and made affordable to low income persons in Franklin County by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Franklin County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $22,680 $25,920 $29,160 $32,340 $34,980 $37,560 $40,140 $42,720

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Franklin County is $29,160 a year, or $2,430 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,430 by 30% to get a maximum rent of $729 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $473 $506 $608 $701 $783 $863
60% $567 $608 $729 $842 $939 $1,036
Fair Market Rents in Franklin County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$457 $468 $619 $895 $1,060

Cities In Franklin County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Winchester 3 The HUD funded Public Housing Agencies that serve Winchester are the Franklin Housing Authority, Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency South Central Tennessee Office.
Monteagle 3 The HUD funded Public Housing Agencies that serve Monteagle are the Franklin Housing Authority, Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency South Central Tennessee Office.
Decherd 2 The HUD funded Public Housing Agencies that serve Decherd are the Franklin Housing Authority, Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency South Central Tennessee Office.
Cowan 4 The HUD funded Public Housing Agencies that serve Cowan are the Franklin Housing Authority, Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency South Central Tennessee Office.
Estill Springs 0 The HUD funded Public Housing Agencies that serve Estill Springs are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency South Central Tennessee Office.
Huntland 0 The HUD funded Public Housing Agencies that serve Huntland are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency South Central Tennessee Office.
Sewanee 0 The HUD funded Public Housing Agencies that serve Sewanee are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency South Central Tennessee Office.