Affordable Housing In Lake County
Tennessee

14 Low Income Apartment Communities In Lake County

Sun Valley Apartments

498 Riley Rd
Ridgely, Tennessee
Call For Rent
1-2 BR
Subsidized
62+

Lake Ridge Apartments

900 Vaughn Dr
Tiptonville, Tennessee
Call For Rent
1-2 BR
Subsidized

Lake Point Apartments

1775 Vaughn Dr
Tiptonville, Tennessee
Call For Rent
1-2 BR
Subsidized
62+

Blue Ridge Apartments

210 S Main St
Ridgely, Tennessee
Call For Rent
2-3 BR
Subsidized

Camelot Manor

303 Dillard St
Ridgely, Tennessee
Subsidized

Colonial House Apartments

1131 Vaughn Dr.
Tiptonville, Tennessee

Wesley Apartments

1155 Reelfoot St
Tiptonville, Tennessee
Subsidized
62+
Accessible
Elderly Supportive Housing

Ridgely Manor Apartments

500 Riley Rd
Ridgely, Tennessee
Subsidized

Reelfoot Village Apartments

496 Maze Rd
Ridgely, Tennessee
Subsidized

Tiptonville Meadows Apartments

550 Moss St
Tiptonville, Tennessee
Subsidized

Section 8 Vouchers, Apartments, and Waiting Lists in Lake County, Tennessee

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Lake County, Tennessee

Housing Authority Programs
Tennessee Housing Development Agency Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency; Mainstream Voucher; Homeownership

Guide To Affordable Housing in Lake County, Tennessee

There are 14 low income housing apartment communities offering 531 affordable apartments for rent in Lake County, Tennessee.

Income Based Apartments in Lake County, Tennessee

Lake County features 526 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 Lake County, Tennessee

There are 5 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake County.

Housing Choice Vouchers in Lake County, Tennessee

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Lake County, Tennessee for a two-bedroom apartment is between $608 and $744.

2022 Lake County, 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
Lake County, Tennessee Fair Market Rent $510 $514 $676 $836 $998
Lake County, Tennessee Payment Standard Range $459 to $561 $463 to $565 $608 to $744 $752 to $920 $898 to $1,098

Sourced from federal housing data and AffordableHousingOnline.com research.

Lake County, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 14
Total Low Income Apartments 531
Total Housing Units with Rental Assistance 526
Percentage of Housing Units Occupied By Renters 39.67%
Average Renter Household Size 2.60
Average Household Size 2.38
Median Household Income $30,086 ±$2,604
Median Rent $478 ±$74
Percentage Of Renters Overburdened 29.4% ± 6.06pp
Total Population 7,687

Population and Household Demographics

Lake County is a county in Tennessee with a population of 7,687. There are 2,092 households in the county with an average household size of 2.38 persons. 39.67% of households in Lake County are renters.

Income and Rent Overburden in Lake County

The median gross income for households in Lake County is $30,086 a year, or $2,507 a month. The median rent for the county is $478 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lake County, a household making less than $1,593 a month would be considered overburdened when renting an apartment at or above the median rent. 29.4% of households who rent are overburdened in Lake County.

Area Median Income In Lake 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 Lake County, HUD calculates the Area Median Income for a family of four as $49,400

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 Lake 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 HUD Rental Assistance in Lake County

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Lake County AMI may qualify for rental assistance programs that target Extremely Low Income households.
$12,880 $17,420 $21,960 $26,500 $30,500 $32,750 $35,000 $37,250
50% AMI Income Limits
Renters earning up to 50% of the Lake County AMI may qualify for rental assistance programs that target Very Low Income households.
$19,750 $22,600 $25,400 $28,200 $30,500 $32,750 $35,000 $37,250
80% AMI Income Limits
Renters earning up to 80% of the Lake County AMI may qualify for rental assistance programs that target Low Income households.
$31,600 $36,100 $40,600 $45,100 $48,750 $52,350 $55,950 $59,550

Cities In Lake County

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

City Served By
Leadville North The HUD funded Public Housing Agency that serves Leadville North is the Tennessee Housing Development Agency.
Ridgely The HUD funded Public Housing Agency that serves Ridgely is the Tennessee Housing Development Agency.
Tiptonville The HUD funded Public Housing Agency that serves Tiptonville is the Tennessee Housing Development Agency.
Twin Lakes The HUD funded Public Housing Agency that serves Twin Lakes is the Tennessee Housing Development Agency.