Affordable Housing In Monroe County
13 Low Income Apartment Communities In Monroe County
Housing Authorities that serve Monroe County
|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 Monroe County, Tennessee
There are 13 low income housing apartment communities offering 773 affordable apartments for rent in Monroe County, Tennessee.
Income Based Apartments in Monroe County, Tennessee
Monroe County features 503 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 Monroe County, Tennessee
There are 270 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monroe County.
Housing Choice Vouchers in Monroe County, Tennessee
On average, Section 8 Housing Choice vouchers pay Monroe County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Monroe County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Monroe County, Tennessee for a two-bedroom apartment is between $584 and $714.
2020 Monroe County, 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||$423||$565||$649||$936||$977|
|Payment Standard Range||$381 to $465||$509 to $622||$584 to $714||$842 to $1,030||$879 to $1,075|
Sourced from federal housing data and AffordableHousingOnline.com research.
Monroe County, TN Affordable Housing Snapshot
|Total Affordable Apartment Properties||13|
|Total Low Income Apartments||773|
|Total Housing Units with Rental Assistance||503|
|Percentage of Housing Units Occupied By Renters||24.5%|
|Average Renter Household Size||2.62|
|Average Household Size||2.60|
|Median Household Income||$35,291 ±$2,687|
|Median Rent||$596 ±$40|
|Percentage Of Renters Overburdened||45.05% ± 7.38pp|
Population and Household Demographics
Monroe County is a county in Tennessee with a population of 45,293. There are 17,193 households in the county with an average household size of 2.60 persons. 24.5% of households in Monroe County are renters.
Income and Rent Overburden in Monroe County
The median gross income for households in Monroe County is $35,291 a year, or $2,941 a month. The median rent for the county is $596 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Monroe County, a household making less than $1,987 a month would be considered overburdened when renting an apartment at or above the median rent. 45.05% of households who rent are overburdened in Monroe County.
Area Median Income In Monroe 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 Monroe County, HUD calculates the Area Median Income for a family of four as $46,000
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 Monroe 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 HUD Rental Assistance in Monroe County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$12,490||$16,910||$21,330||$25,750||$28,350||$30,450||$32,550||$34,650|
|50% of Median||$18,400||$21,000||$23,650||$26,250||$28,350||$30,450||$32,550||$34,650|
|80% of Median||$29,400||$33,600||$37,800||$42,000||$45,400||$48,750||$52,100||$55,450|
Cities In Monroe County
Select A City to View its Apartment Communities and Waiting Lists.
|Madisonville||The HUD funded Public Housing Agencies that serve Madisonville are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.|
|Tellico Plains||The HUD funded Public Housing Agencies that serve Tellico Plains are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.|
|Vonore||The HUD funded Public Housing Agencies that serve Vonore are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.|