Affordable Housing In Nashville
Davidson County,
Tennessee
184 Low Income Apartment Communities In Nashville
Riverwood Tower Apartments
Housing Authorities that serve Nashville
| Housing Authority | Programs |
|---|---|
| Metropolitan Development and Housing Agency | Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH) |
Guide To Affordable Housing in Nashville, Tennessee
There are 184 low income housing apartment communities offering 14,502 affordable apartments for rent in Nashville, Tennessee.
Income Based Apartments in Nashville, Tennessee
Nashville features 9,665 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 Nashville, Tennessee
There are 4,837 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Nashville.
Housing Choice Vouchers in Nashville, Tennessee
On average, Section 8 Housing Choice vouchers pay Nashville landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Nashville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Nashville, Tennessee for a two-bedroom apartment is between $1,022 and $1,250.
2020 Nashville, 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 | $898 | $957 | $1,136 | $1,484 | $1,822 |
| Payment Standard Range | $808 to $988 | $861 to $1,053 | $1,022 to $1,250 | $1,336 to $1,632 | $1,640 to $2,004 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Nashville, TN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 184 |
|---|---|
| Total Low Income Apartments | 14,502 |
| Total Housing Units with Rental Assistance | 9,665 |
| Percentage of Housing Units Occupied By Renters | 46.28% |
| Average Renter Household Size | 2.33 |
| Average Household Size | 2.40 |
| Median Household Income | $47,621 ±$823 |
| Median Rent | $872 ±$7 |
| Percentage Of Renters Overburdened | 47.42% ± 1.29pp |
| Total Population | 634,512 |
Population and Household Demographics
Nashville is a city in Davidson County, Tennessee with a population of 634,512. There are 254,729 households in the city with an average household size of 2.40 persons. 46.28% of households in Nashville are renters.
Income and Rent Overburden in Nashville
The median gross income for households in Nashville is $47,621 a year, or $3,968 a month. The median rent for the city is $872 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Nashville, a household making less than $2,907 a month would be considered overburdened when renting an apartment at or above the median rent. 47.42% of households who rent are overburdened in Nashville.
Area Median Income In Nashville
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 Nashville, the AMI is calculated from all households within Davidson County.
In Nashville, HUD calculates the Area Median Income for a family of four as $82,300
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 Nashville
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 Nashville
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% of Median | $17,300 | $19,800 | $22,250 | $26,200 | $30,680 | $35,160 | $39,640 | $44,120 |
| 50% of Median | $28,850 | $32,950 | $37,050 | $41,150 | $44,450 | $47,750 | $51,050 | $54,350 |
| 80% of Median | $46,100 | $52,700 | $59,300 | $65,850 | $71,150 | $76,400 | $81,700 | $86,950 |
