Affordable Housing In Old Hickory
Old Hickory city limits extend into and Wilson County.
1 Low Income Apartment Communities In Old Hickory
Guide To Affordable Housing in Old Hickory, Tennessee
There are 1 low income housing apartment communities offering 209 affordable apartments for rent in Old Hickory, Tennessee.
Income Based Apartments in Old Hickory, Tennessee
Old Hickory features 209 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 Old Hickory, Tennessee
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Old Hickory.
Housing Choice Vouchers in Old Hickory, Tennessee
On average, Section 8 Housing Choice vouchers pay Old Hickory landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Old Hickory.
Sourced from federal housing data and AffordableHousingOnline.com research.
Area Median Income In Old Hickory
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 Old Hickory, the AMI is calculated from all households within Davidson County.
In Old Hickory, HUD calculates the Area Median Income for a family of four as $96,700
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 Old Hickory
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 Old Hickory
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|30% AMI Income Limits
Renters earning up to 30% of the Old Hickory AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Old Hickory AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Old Hickory AMI may qualify for rental assistance programs that target Low Income households.