Affordable Housing In Hornbeak
Obion County, Tennessee

Housing Authorities that serve Hornbeak

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 Hornbeak, Tennessee

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

Income Based Apartments in Hornbeak, Tennessee

Hornbeak 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 Hornbeak, Tennessee

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

Housing Choice Vouchers in Hornbeak, Tennessee

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

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

2020 Hornbeak, 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 $466 $534 $649 $858 $1,028
Payment Standard Range $419 to $513 $481 to $587 $584 to $714 $772 to $944 $925 to $1,131

Sourced from federal housing data and research.

Hornbeak, 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 20.12%
Average Renter Household Size 2.53
Average Household Size 2.32
Median Household Income $35,972 ±$5,558
Median Rent $619 ±$145
Percentage Of Renters Overburdened 41.18% ± 32.16pp
Total Population 392

Population and Household Demographics

Hornbeak is a City in Obion County, Tennessee with a population of 392. There are 169 households in the city with an average household size of 2.32 persons. 20.12% of households in Hornbeak are renters.

Income and Rent Overburden in Hornbeak

The median gross income for households in Hornbeak is $35,972 a year, or $2,998 a month. The median rent for the city is $619 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hornbeak, a household making less than $2,063 a month would be considered overburdened when renting an apartment at or above the median rent. 41.18% of households who rent are overburdened in Hornbeak.1

Area Median Income In Hornbeak

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 Hornbeak, the AMI is calculated from all households within Obion County.

In Hornbeak, HUD calculates the Area Median Income for a family of four as $50,800

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 Hornbeak

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 Hornbeak

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