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Affordable Housing In Loudon
Loudon County, Tennessee

8 Low Income Apartment Communities In Loudon

Act IIi Group Home

1411 Grove St
Loudon, Tennessee
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Loudon Gardens

300 Clyde St
Loudon, Tennessee
Subsidized

Loudonview Apartments

1519 Grove St
Loudon, Tennessee

Lakeview Apartments

1521 Grove Street
Loudon, Tennessee

Creekwood Homes

122 Hackberry St
Loudon, Tennessee

Peaks of Loudon

1085 Carding Machine Rd
Loudon, Tennessee

The Peaks of Loudon

Carding Machine Rd
Loudon, Tennessee

Westside Terrace

939 Maremont Pkwy
Loudon, Tennessee
Subsidized
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Housing Authorities that serve Loudon

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

Guide To Affordable Housing in Loudon, Tennessee

There are 8 low income housing apartment communities offering 512 affordable apartments for rent in Loudon, Tennessee.

Income Based Apartments in Loudon, Tennessee

Loudon features 324 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 Loudon, Tennessee

There are 188 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Loudon.

Housing Choice Vouchers in Loudon, Tennessee

On average, Section 8 Housing Choice vouchers pay Loudon landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Loudon.

The maximum amount a voucher would pay on behalf of a low-income tenant in Loudon, Tennessee for a two-bedroom apartment is between $824 and $1,007.

2020 Loudon, 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 $624 $742 $915 $1,198 $1,476
Payment Standard Range $562 to $686 $668 to $816 $824 to $1,007 $1,078 to $1,318 $1,328 to $1,624

Sourced from federal housing data and AffordableHousingOnline.com research.

Loudon, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 512
Total Housing Units with Rental Assistance 324
Percentage of Housing Units Occupied By Renters 43.64%
Average Renter Household Size 2.52
Average Household Size 2.62
Median Household Income $31,542 ±$4,227
Median Rent $531 ±$106
Percentage Of Renters Overburdened 49.78% ± 15.8pp
Total Population 5,653

Population and Household Demographics

Loudon is a city in Loudon County, Tennessee with a population of 5,653. There are 2,076 households in the city with an average household size of 2.62 persons. 43.64% of households in Loudon are renters.

Income and Rent Overburden in Loudon

The median gross income for households in Loudon is $31,542 a year, or $2,629 a month. The median rent for the city is $531 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Loudon, a household making less than $1,770 a month would be considered overburdened when renting an apartment at or above the median rent. 49.78% of households who rent are overburdened in Loudon.

Area Median Income In Loudon

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

In Loudon, HUD calculates the Area Median Income for a family of four as $73,900

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 Loudon

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 Loudon

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,550 $17,750 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $25,900 $29,600 $33,300 $36,950 $39,950 $42,900 $45,850 $48,800
80% of Median $41,400 $47,300 $53,200 $59,100 $63,850 $68,600 $73,300 $78,050