Affordable Housing In Lakewood
Davidson County, Tennessee


Waiting List Openings In Lakewood

Waiting ListStatus
Metropolitan Development and Housing Agency Housing Choice Voucher Open Soon

3 Low Income Apartment Communities In Lakewood

Old Hickory Towers

930 Industrial Dr
Lakewood, TN
Call For Rent
1-2 BR
HCV Welcome
Subsidized

Nashville Voa Living Centers

209 Claudia Dr
Lakewood, TN
Accessible
Disabled Supportive Housing
Subsidized

Nashville Volunteers of America LC Inc.

110 Ryburn Dr
Lakewood, TN
  • «
  • 1
  • »

Housing Authorities that serve Lakewood

Housing Authority Programs
Metropolitan Development and Housing Agency Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-sufficiency; Veteran Affairs Supportive Housing (VASH)
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Lakewood, Tennessee

According to federal housing data and AffordableHousingOnline.com research, there are 3 low income housing apartment communities offering 229 affordable apartments for rent in Lakewood, Tennessee. Lakewood features 229 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Lakewood.

Lakewood, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 229
Total Housing Units with Rental Assistance 229
Percentage of Housing Units Occupied By Renters %
Average Renter Household Size 0.00
Average Household Size 0.00
Median Household Income $0 ±$0
Median Rent $0 ±$0
Total Population 0

Population and Household Demographics

Lakewood is a City in Davidson County, Tennessee with a population of 0. There are 0 households in the city with an average household size of 0.00 persons. % of households in Lakewood are renters.

Income and Rent Overburden in Lakewood

The median gross income for households in Lakewood is $0 a year, or $0 a month. The median rent for the city is $0 a month.

Area Median Income In Lakewood

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 Lakewood, the AMI is calculated from all households within Davidson County.

In Lakewood, HUD calculates the Area Median Income for a family of four as $80,000

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 Lakewood

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 Lakewood HUD Rental Assistance in Lakewood

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,800 $19,200 $21,600 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $28,000 $32,000 $36,000 $40,000 $43,200 $46,400 $49,600 $52,800
80% of Median $44,800 $51,200 $57,600 $64,000 $69,150 $74,250 $79,400 $84,500

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 Lakewood

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $28,000 $32,000 $36,000 $40,000 $43,200 $46,400 $49,600 $52,800
60% of Median $33,600 $38,400 $43,200 $48,000 $51,840 $55,680 $59,520 $63,360

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 Lakewood is $43,200 a year, or $3,600 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,600 by 30% to get a maximum rent of $1,080 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% $700 $750 $900 $1,040 $1,160 $1,280
60% $840 $900 $1,080 $1,248 $1,392 $1,536
Fair Market Rents in Lakewood

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
$898 $957 $1,136 $1,484 $1,822