Affordable Housing In Monroe County
Tennessee

14 Low Income Apartment Communities In Monroe County

Charter Village Apartments

333 Rio Vista Dr
Madisonville, TN
Call For Rent
1-3 BR
Subsidized

Cumberland View Towers

1201 Cheyenne Blvd
Madisonville, TN
Income Based
1 BR
62+
Accessible
Elderly Supportive Housing
HCV Welcome
Subsidized

Island Grove

Willow Creek Drive
Madisonville, TN
HCV Welcome

Hampton Terrace

300 E Webster St
Madisonville, TN
HCV Welcome

Crestview Apartments

128 Van St
Madisonville, TN
Subsidized

Raintree Apartments

330 Bank St
Tellico Plains, TN
HCV Welcome

Laurel Place Apartments

121 Helms Drive
Madisonville, TN
Accessible
Disabled Supportive Housing
Subsidized

Ridgeway Apartments

255 Ball Play Rd
Madisonville, TN
HCV Welcome

Pedigo II Apartments

301 Willow Creek Dr
Madisonville, TN
62+
Accessible
Elderly Supportive Housing
Subsidized

Pedigo I Apartments

316 Willow Creek Dr
Madisonville, TN
Accessible
Disabled Supportive Housing
Subsidized

There are 14 low income housing apartment complexes which contain 1,047 affordable apartments for rent in Monroe County. Many of these rental apartments are income based housing with 503 apartments that set rent based on your income. In Monroe County, HUD housing programs support 277 rental assistance apartments through programs like Project-based Section 8. There are 544 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Monroe 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 Monroe County

Housing Authority Programs
Sweetwater Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Monroe County, Tennessee

Monroe County, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 14
Total Low Income Apartments 1,047
Total Rent Assisted Apartments 503
Percentage of Housing Units Occupied By Renters 24.5%
Average Renter Household Size 2.62
Total Population 45,293
Housing Units 17,193
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
Low Income Housing Tax Credits in Monroe County

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

From 1993 to 2011, 7 low income apartment communities containing 1,022 rental apartments have been constructed and made affordable to low income persons in Monroe 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 Monroe County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $18,400 $21,000 $23,650 $26,250 $28,350 $30,450 $32,550 $34,650
60% of Median $22,080 $25,200 $28,380 $31,500 $34,020 $36,540 $39,060 $41,580

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 Monroe County is $28,380 a year, or $2,365 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,365 by 30% to get a maximum rent of $710 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% $460 $493 $591 $683 $761 $840
60% $552 $591 $710 $819 $914 $1,008
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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$406 $517 $623 $901 $968

Cities In Monroe County

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

City Listings Served By
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.