Affordable Housing In Loudon County
Tennessee

16 Low Income Apartment Communities In Loudon County

Mcghee Square

225 Kelly Ln
Lenoir City, TN
Subsidized

Hines Valley Apartments

1 Hines Ct
Lenoir City, TN
HCV Welcome

Act IIi Group Home

1411 Grove St
Loudon, TN
Accessible
Disabled Supportive Housing
Subsidized

Loudon Gardens

300 Clyde St
Loudon, TN
Subsidized

River Manor Apartments

6370 Industrial Blvd
Lenoir City, TN
HCV Welcome

Loudonview Apartments

1519 Grove St
Loudon, TN
HCV Welcome

Springplace Apartments

304 Locust St
Lenoir City, TN
Subsidized

Lakeview Apartments

1521 Grove Street
Loudon, TN

Sunset Hills

100 Oakwood Dr
Lenoir City, TN

Creekwood Homes

122 Hackberry St
Loudon, TN

Housing Authorities that serve Loudon County

Housing Authority Programs
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

Other Housing Authorities located in Loudon County

Housing Authority Programs
Lenoir City Housing Authority Public Housing
Loudon Housing Authority Public Housing

Guide To Affordable Housing in Loudon County, Tennessee

According to federal housing data and AffordableHousingOnline.com research, there are 16 low income housing apartment communities offering 1,065 affordable apartments for rent in Loudon County, Tennessee. Loudon County features 728 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 337 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Loudon County.

Loudon County, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 16
Total Low Income Apartments 1,065
Total Housing Units with Rental Assistance 728
Percentage of Housing Units Occupied By Renters 23.24%
Average Renter Household Size 2.66
Average Household Size 2.49
Median Household Income $51,107 ±$2,900
Median Rent $712 ±$39
Percentage Of Renters Overburdened 39.2% ± 6.85pp
Total Population 50,229

Population and Household Demographics

Loudon County is a County in Tennessee with a population of 50,229. There are 20,009 households in the county with an average household size of 2.49 persons. 23.24% of households in Loudon County are renters.

Income and Rent Overburden in Loudon County

The median gross income for households in Loudon County is $51,107 a year, or $4,259 a month. The median rent for the county is $712 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Loudon County, a household making less than $2,373 a month would be considered overburdened when renting an apartment at or above the median rent. 39.2% of households who rent are overburdened in Loudon County.1

Area Median Income In Loudon 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 Loudon County, 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 Loudon 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 Loudon County HUD Rental Assistance in Loudon County

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 Loudon County

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

From 1988 to 2011, 8 low income apartment communities containing 229 rental apartments have been constructed and made affordable to low income persons in Loudon County 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 Loudon County

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

Cities In Loudon County

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

City Listings Served By
Loudon 8 The HUD funded Public Housing Agencies that serve Loudon are the Loudon Housing Authority, Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.
Lenoir City 8 The HUD funded Public Housing Agencies that serve Lenoir City are the Lenoir City Housing Authority, Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.
Greenback 0 The HUD funded Public Housing Agencies that serve Greenback are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.
Philadelphia 0 The HUD funded Public Housing Agencies that serve Philadelphia are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.
Tellico Village 0 The HUD funded Public Housing Agencies that serve Tellico Village are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.