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Affordable Housing In Louisville
Blount County, Tennessee

2 Low Income Apartment Communities In Louisville

Airway Ridge

101 Airway Ridge Rd
Louisville, Tennessee
Accepts Vouchers

Anderson Apartments

3122 Louisville Rd
Louisville, Tennessee
Accepts Vouchers
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Housing Authorities that serve Louisville

Housing Authority Programs
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 Louisville, Tennessee

There are 2 low income housing apartment communities offering 60 affordable apartments for rent in Louisville, Tennessee.

Income Based Apartments in Louisville, Tennessee

Louisville features 0 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 Louisville, Tennessee

There are 60 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Louisville.

Housing Choice Vouchers in Louisville, Tennessee

On average, Section 8 Housing Choice vouchers pay Louisville landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Louisville.

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

2020 Louisville, 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.

Louisville, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 60
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 22.84%
Average Renter Household Size 2.34
Average Household Size 2.42
Median Household Income $55,043 ±$9,267
Median Rent $691 ±$33
Percentage Of Renters Overburdened 45.31% ± 19.55pp
Total Population 4,092

Population and Household Demographics

Louisville is a City in Blount County, Tennessee with a population of 4,092. There are 1,681 households in the city with an average household size of 2.42 persons. 22.84% of households in Louisville are renters.

Income and Rent Overburden in Louisville

The median gross income for households in Louisville is $55,043 a year, or $4,587 a month. The median rent for the city is $691 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Louisville, a household making less than $2,303 a month would be considered overburdened when renting an apartment at or above the median rent. 45.31% of households who rent are overburdened in Louisville.1

Area Median Income In Louisville

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 Louisville, the AMI is calculated from all households within Blount County.

In Louisville, 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 Louisville

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 Louisville

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