Low Income Apartments In Madison County
Tennessee

Low Income Apartments In Madison County

Park Trace Apartments

100 Parkwood Trace
Jackson, TN
1-3 BR
HCV Welcome

Park Place Apartments

100 Boardwalk Cove
Jackson, TN
1-3 BR
HCV Welcome

Madison Place Apartments

112 Rhone St
Jackson, TN
1-2 BR
HCV Welcome

Whitehall Cove

100 Ben Lifsey Dr
Jackson, TN
1-3 BR
HCV Welcome

Park Ridge Apartments

100 Park Ridge Drive
Jackson, TN
1-3 BR
HCV Welcome

Kingfield South

8 Kingsfield Drive
Jackson, TN
HCV Welcome

East Pointe Apartments

504 Daugherty St
Jackson, TN
Subsidized

Royal Arms Apartments

1580 N Royal St
Jackson, TN
Subsidized

New Southern Senior Center

181 E Chester St
Jackson, TN
Subsidized

Parkway East Apartments Phase I

266 Roosevelt Pkwy
Jackson, TN
Subsidized

There are 36 low income housing apartment complexes which contain 2,619 affordable apartments for rent in Madison County, Tennessee. Many of these rental apartments are income based housing with about 1,501 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 415 Project-Based Section 8 subsidized apartments in Madison County. There are 1,118 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Madison County

Housing Authority Programs
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher
Jackson Housing Authority Section 8 Housing Choice Voucher; Public Housing
Tennessee Housing Development Agency West Tennessee Office Section 8 Housing Choice Voucher; Homeownership Voucher; Family Self-sufficiency; Veteran Affairs Supportive Housing; Mainstream Voucher

Guide To Affordable Housing in Madison County, Tennessee

Madison County, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 36
Total Low Income Apartments 2,619
Total Rent Assisted Apartments 1,501
Percentage of Housing Units Occupied By Renters 35.43%
Average Renter Household Size 2.59
Total Population 98,184
Housing Units 36,766
Average Household Size 2.56
Median Household Income $42,544 ±$1,587
Median Rent $767 ±$15
Percentage Of Renters Overburdened 54.31% ± 3.55pp

Population and Household Demographics

Madison County is a County in Tennessee with a population of 98,184. There are 36,766 households in the county with an average household size of 2.56 persons. 35.43% of households in Madison County are renters.

Income and Rent Overburden in Madison County

The median gross income for households in Madison County is $42,544 a year, or $3,545 a month. The median rent for the county is $767 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Madison County, a household making less than $2,557 a month would be considered overburdened when renting an apartment at or above the median rent. 54.31% of households who rent are overburdened in Madison County.1

Area Median Income In Madison 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 Madison County, HUD calculates the Area Median Income for a family of four as $58,600

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 Madison 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 Madison County HUD Rental Assistance in Madison County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,350 $16,460 $20,780 $25,100 $29,420 $33,740 $36,350 $38,700
50% of Median $20,550 $23,450 $26,400 $29,300 $31,650 $34,000 $36,350 $38,700
80% of Median $32,850 $37,550 $42,250 $46,900 $50,700 $54,450 $58,200 $61,950
Low Income Housing Tax Credits in Madison County

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

From 1987 to 2010, 39 low income apartment communities containing 1,394 rental apartments have been constructed and made affordable to low income persons in Madison 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 Madison County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $24,660 $28,140 $31,680 $35,160 $37,980 $40,800 $43,620 $46,440

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 Madison County is $31,680 a year, or $2,640 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,640 by 30% to get a maximum rent of $792 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% $514 $550 $660 $762 $850 $938
60% $617 $660 $792 $914 $1,020 $1,126
Fair Market Rents in Madison 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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$498 $634 $775 $1,085 $1,172

Cities In Madison County

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

City Listings Served By
Jackson 36 The HUD funded Public Housing Agencies that serve Jackson are the Jackson Housing Authority, Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Medon 0 The HUD funded Public Housing Agencies that serve Medon are the Tennessee Housing Development Agency Central Office, Jackson Housing Authority and Tennessee Housing Development Agency West Tennessee Office.
Three Way 0 The HUD funded Public Housing Agencies that serve Three Way are the Tennessee Housing Development Agency Central Office, Jackson Housing Authority and Tennessee Housing Development Agency West Tennessee Office.