Affordable Housing In Lenoir City
Loudon County, Tennessee

8 Low Income Apartment Communities In Lenoir City

Mcghee Square

225 Kelly Ln
Lenoir City, TN
Subsidized

Hines Valley Apartments

1 Hines Ct
Lenoir City, TN
HCV Welcome

River Manor Apartments

6370 Industrial Blvd
Lenoir City, TN
HCV Welcome

Springplace Apartments

304 Locust St
Lenoir City, TN
Subsidized

Sunset Hills

100 Oakwood Dr
Lenoir City, TN

Town Creek Village

171 Country Ln
Lenoir City, TN
HCV Welcome

Dogwood Terrace IIi

600 Ivy St
Lenoir City, TN
62+
Accessible
Elderly Supportive Housing
Subsidized

Silver Hills Apartments

699 Grayson Freedman Ln
Lenoir City, TN
Subsidized
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Housing Authorities that serve Lenoir City

Housing Authority Programs
Lenoir City Housing Authority Public Housing
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher (HCV)
Tennessee Housing Development Agency East Tennessee Office Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Family Self-sufficiency

Guide To Affordable Housing in Lenoir City, Tennessee

According to federal housing data and AffordableHousingOnline.com research, there are 8 low income housing apartment communities offering 553 affordable apartments for rent in Lenoir City, Tennessee. Lenoir City features 404 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 149 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Lenoir City.

Lenoir City, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 553
Total Housing Units with Rental Assistance 404
Percentage of Housing Units Occupied By Renters 44.15%
Average Renter Household Size 2.82
Average Household Size 2.72
Median Household Income $35,163 ±$6,030
Median Rent $726 ±$64
Percentage Of Renters Overburdened 52% ± 14.53pp
Total Population 8,943

Population and Household Demographics

Lenoir City is a City in Loudon County, Tennessee with a population of 8,943. There are 3,289 households in the city with an average household size of 2.72 persons. 44.15% of households in Lenoir City are renters.

Income and Rent Overburden in Lenoir City

The median gross income for households in Lenoir City is $35,163 a year, or $2,930 a month. The median rent for the city is $726 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lenoir City, a household making less than $2,420 a month would be considered overburdened when renting an apartment at or above the median rent. 52% of households who rent are overburdened in Lenoir City.1

Area Median Income In Lenoir City

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 Lenoir City, the AMI is calculated from all households within Loudon County.

In Lenoir City, HUD calculates the Area Median Income for a family of four as $69,900

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 Lenoir City

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 Lenoir City HUD Rental Assistance in Lenoir City

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,700 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,500 $28,000 $31,500 $34,950 $37,750 $40,550 $43,350 $46,150
80% of Median $39,150 $44,750 $50,350 $55,900 $60,400 $64,850 $69,350 $73,800
Low Income Housing Tax Credits in Lenoir City

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1988 to 2010, 4 low income apartment communities containing 121 rental apartments have been constructed and made affordable to low income persons in Lenoir City by the Low Income Housing Tax Credit Program.

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 Lenoir City

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $24,500 $28,000 $31,500 $34,950 $37,750 $40,550 $43,350 $46,150
60% of Median $29,400 $33,600 $37,800 $41,940 $45,300 $48,660 $52,020 $55,380

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 Lenoir City is $37,800 a year, or $3,150 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,150 by 30% to get a maximum rent of $945 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% $613 $656 $788 $909 $1,014 $1,119
60% $735 $788 $945 $1,091 $1,217 $1,343
Fair Market Rents in Lenoir City

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
$624 $742 $915 $1,198 $1,476