Affordable Housing In Monroe County
14 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|
Other Housing Authorities located in Monroe County
|Sweetwater Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Monroe County, Tennessee
There are 14 low income housing apartment communities offering 1,047 affordable apartments for rent in Monroe County, Tennessee. Monroe County features 503 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 544 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Monroe County.
Sourced from federal housing data and AffordableHousingOnline.com research.
Monroe County, TN Affordable Housing Snapshot
|Total Affordable Apartment Properties||14|
|Total Low Income Apartments||1,047|
|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.1
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 Monroe County 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|
Fair Market Rents in Monroe 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|
Cities In Monroe County
Select A City to View its Apartment Communities and Waiting Lists.
|Tellico Plains||2||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.|
|Madisonville||13||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.|
|Vonore||1||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.|