Affordable Housing In Lake County
Tennessee

14 Low Income Apartment Communities In Lake County

Sun Valley Apartments

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

Lake Ridge Apartments

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

Lake Point Apartments

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

Blue Ridge Apartments

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

Camelot Manor

303 Dillard St
Ridgely, TN
Subsidized

Colonial House Apartments

1131 Vaughn Dr.
Tiptonville, TN

Wesley Apartments

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

Ridgely Manor Apartments

500 Riley Rd
Ridgely, TN
Subsidized

Reelfoot Village Apartments

496 Maze Rd
Ridgely, TN
Subsidized

Tiptonville Meadows Apartments

550 Moss St
Tiptonville, TN
Subsidized

Housing Authorities that serve Lake County

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 Lake County, Tennessee

There are 14 low income housing apartment communities offering 531 affordable apartments for rent in Lake County, Tennessee. Lake County features 526 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 5 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Lake County.

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.1

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 $46,700

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 Lake County HUD Rental Assistance in Lake County

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
Fair Market Rents in Lake 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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$492 $497 $649 $823 $879

Cities In Lake County

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

City Listings Served By
Ridgely 6 The HUD funded Public Housing Agencies that serve Ridgely are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Tiptonville 8 The HUD funded Public Housing Agencies that serve Tiptonville are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Leadville North 0 The HUD funded Public Housing Agencies that serve Leadville North are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Twin Lakes 0 The HUD funded Public Housing Agencies that serve Twin Lakes are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.