Affordable Housing In Henry
Henry County, Tennessee

Housing Authorities that serve Henry

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 Henry, Tennessee

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

Income Based Apartments in Henry, Tennessee

Henry 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 Henry, Tennessee

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

Housing Choice Vouchers in Henry, Tennessee

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

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

2020 Henry, 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 $518 $649 $871 $900
Payment Standard Range $443 to $541 $466 to $570 $584 to $714 $784 to $958 $810 to $990

Sourced from federal housing data and AffordableHousingOnline.com research.

Henry, 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 34.39%
Average Renter Household Size 3.29
Average Household Size 2.88
Median Household Income $28,625 ±$5,893
Median Rent $568 ±$88
Percentage Of Renters Overburdened 50.77% ± 24.18pp
Total Population 545

Population and Household Demographics

Henry is a City in Henry County, Tennessee with a population of 545. There are 189 households in the city with an average household size of 2.88 persons. 34.39% of households in Henry are renters.

Income and Rent Overburden in Henry

The median gross income for households in Henry is $28,625 a year, or $2,385 a month. The median rent for the city is $568 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Henry, a household making less than $1,893 a month would be considered overburdened when renting an apartment at or above the median rent. 50.77% of households who rent are overburdened in Henry.1

Area Median Income In Henry

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 Henry, the AMI is calculated from all households within Henry County.

In Henry, HUD calculates the Area Median Income for a family of four as $50,600

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 Henry

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 Henry

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 $28,350 $30,450 $32,550 $34,650
50% of Median $18,400 $21,000 $23,650 $26,250 $28,350 $30,450 $32,550 $34,650
80% of Median $29,400 $33,600 $37,800 $42,000 $45,400 $48,750 $52,100 $55,450