Affordable Housing In Oak Ridge
12 Low Income Apartment Communities In Oak Ridge
Housing Authorities that serve Oak Ridge
|Oak Ridge Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
|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 Oak Ridge, Tennessee
There are 12 low income housing apartment communities offering 698 affordable apartments for rent in Oak Ridge, Tennessee.
Income Based Apartments in Oak Ridge, Tennessee
Oak Ridge features 474 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 Oak Ridge, Tennessee
There are 224 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oak Ridge.
Housing Choice Vouchers in Oak Ridge, Tennessee
On average, Section 8 Housing Choice vouchers pay Oak Ridge landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Oak Ridge.
The maximum amount a voucher would pay on behalf of a low-income tenant in Oak Ridge, Tennessee for a two-bedroom apartment is between $824 and $1,007.
2020 Oak Ridge, 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||$624||$742||$915||$1,198||$1,476|
|Payment Standard Range||$562 to $686||$668 to $816||$824 to $1,007||$1,078 to $1,318||$1,328 to $1,624|
Sourced from federal housing data and AffordableHousingOnline.com research.
Oak Ridge, TN Affordable Housing Snapshot
|Total Affordable Apartment Properties||12|
|Total Low Income Apartments||698|
|Total Housing Units with Rental Assistance||474|
|Percentage of Housing Units Occupied By Renters||40.29%|
|Average Renter Household Size||2.31|
|Average Household Size||2.31|
|Median Household Income||$49,100 ±$2,204|
|Median Rent||$732 ±$32|
|Percentage Of Renters Overburdened||45.51% ± 5.21pp|
Population and Household Demographics
Oak Ridge is a city in Anderson County, Tennessee with a population of 29,310. There are 12,528 households in the city with an average household size of 2.31 persons. 40.29% of households in Oak Ridge are renters.
Income and Rent Overburden in Oak Ridge
The median gross income for households in Oak Ridge is $49,100 a year, or $4,092 a month. The median rent for the city is $732 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Oak Ridge, a household making less than $2,440 a month would be considered overburdened when renting an apartment at or above the median rent. 45.51% of households who rent are overburdened in Oak Ridge.
Area Median Income In Oak Ridge
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 Oak Ridge, the AMI is calculated from all households within Anderson County.
In Oak Ridge, HUD calculates the Area Median Income for a family of four as $73,900
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 Oak Ridge
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 Oak Ridge
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$15,550||$17,750||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$25,900||$29,600||$33,300||$36,950||$39,950||$42,900||$45,850||$48,800|
|80% of Median||$41,400||$47,300||$53,200||$59,100||$63,850||$68,600||$73,300||$78,050|