Affordable Housing In Henderson
Chester County Tennessee

5 Low Income Apartment Communities In Henderson

Henderson View Apartments

740 Fourth St
Henderson, TN
Subsidized

Hillview Manor Apartments

597 Sanford Hill Rd
Henderson, TN
Subsidized

Heritage Towers

310 E University St
Henderson, TN
62+
Accessible
Elderly Supportive Housing
Subsidized

Arrington Estates of Henderson

Hwy 200 & Luray Rd
Henderson, TN

Arrington Estates of Henderson

547 Pinehurst Dr
Henderson, TN
HCV Welcome
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There are 5 low income housing apartment complexes which contain 296 affordable apartments for rent in Henderson. Many of these rental apartments are income based housing with 196 apartments that set rent based on your income. In Henderson, HUD housing programs support 120 rental assistance apartments through programs like Project-based Section 8. There are 100 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Henderson

Housing Authority Programs
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher (HCV)
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 Henderson, Tennessee

Henderson, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 296
Total Rent Assisted Apartments 196
Percentage of Housing Units Occupied By Renters 45.12%
Average Renter Household Size 2.85
Total Population 6,474
Housing Units 1,968
Average Household Size 2.70
Median Household Income $33,850 ±$6,338
Median Rent $629 ±$43
Percentage Of Renters Overburdened 44.71% ± 14.37pp

Population and Household Demographics

Henderson is a City in Chester County, Tennessee with a population of 6,474. There are 1,968 households in the city with an average household size of 2.70 persons. 45.12% of households in Henderson are renters.

Income and Rent Overburden in Henderson

The median gross income for households in Henderson is $33,850 a year, or $2,821 a month. The median rent for the city is $629 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Henderson, a household making less than $2,097 a month would be considered overburdened when renting an apartment at or above the median rent. 44.71% of households who rent are overburdened in Henderson.1

Area Median Income In Henderson

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 Henderson, the AMI is calculated from all households within Chester County.

In Henderson, HUD calculates the Area Median Income for a family of four as $53,100

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 Henderson

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 Henderson HUD Rental Assistance in Henderson

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $30,100 $32,350 $34,550 $36,800
50% of Median $19,500 $22,300 $25,100 $27,850 $30,100 $32,350 $34,550 $36,800
80% of Median $31,250 $35,700 $40,150 $44,600 $48,200 $51,750 $55,350 $58,900
Low Income Housing Tax Credits in Henderson

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

From 2005 to 2005, 1 low income apartment communities containing 50 rental apartments have been constructed and made affordable to low income persons in Henderson 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 Henderson

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $23,400 $26,760 $30,120 $33,420 $36,120 $38,820 $41,460 $44,160

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 Henderson is $30,120 a year, or $2,510 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,510 by 30% to get a maximum rent of $753 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% $488 $523 $628 $724 $809 $892
60% $585 $627 $753 $869 $971 $1,070
Fair Market Rents in Henderson

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
$498 $634 $775 $1,085 $1,172