Affordable Housing In Putnam County
Tennessee

22 Low Income Apartment Communities In Putnam County

Baxter Apartments

296 Highland Ave
Baxter, TN
Income Based
1-2 BR
Subsidized
Accepts Vouchers

Greenwood Place

265 Quinland Lake Road
Algood, TN
$411-690
1-3 BR
Accepts Vouchers

Terrace Townhomes

1366 Crescent Dr.
Cookeville, TN
Call For Rent
3 BR
Accepts Vouchers

Garden Grove Apartments

300 Quinland Lake Ct
Cookeville, TN
Accepts Vouchers

Rolling Meadows Apartments

186 Dry Valley Rd
Algood, TN

Highland Manor II

614 N Holly ST
Monterey, TN
Subsidized
62+
Accessible
Elderly Supportive Housing

Highland Manor Apartments

535 Old Walton Rd
Monterey, TN
Subsidized
62+
Accessible
Elderly Supportive Housing

Quinland Ridge

394 4th Ave N
Algood, TN
Accepts Vouchers

Walnut Village Apartments

201 S Walnut Ave
Cookeville, TN
Subsidized

Laurel Creek

580 Cora Rd
Cookeville, TN
Subsidized
62+
Accessible
Elderly Supportive Housing

Housing Authorities that serve Putnam County

Housing Authority Programs
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 Putnam County

Housing Authority Programs
Cookeville Housing Authority Public Housing

Guide To Affordable Housing in Putnam County, Tennessee

There are 22 low income housing apartment communities offering 1,432 affordable apartments for rent in Putnam County, Tennessee. Putnam County features 916 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 516 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Putnam County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Putnam County, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 22
Total Low Income Apartments 1,432
Total Housing Units with Rental Assistance 916
Percentage of Housing Units Occupied By Renters 37.71%
Average Renter Household Size 2.18
Average Household Size 2.38
Median Household Income $35,343 ±$2,002
Median Rent $616 ±$19
Percentage Of Renters Overburdened 48.43% ± 3.78pp
Total Population 73,810

Population and Household Demographics

Putnam County is a County in Tennessee with a population of 73,810. There are 29,721 households in the county with an average household size of 2.38 persons. 37.71% of households in Putnam County are renters.

Income and Rent Overburden in Putnam County

The median gross income for households in Putnam County is $35,343 a year, or $2,945 a month. The median rent for the county is $616 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Putnam County, a household making less than $2,053 a month would be considered overburdened when renting an apartment at or above the median rent. 48.43% of households who rent are overburdened in Putnam County.1

Area Median Income In Putnam 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 Putnam County, HUD calculates the Area Median Income for a family of four as $56,900

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 Putnam 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 Putnam County HUD Rental Assistance in Putnam 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 $29,800 $32,000 $34,200 $36,400
50% of Median $19,300 $22,050 $24,800 $27,550 $29,800 $32,000 $34,200 $36,400
80% of Median $30,900 $35,300 $39,700 $44,100 $47,650 $51,200 $54,700 $58,250
Fair Market Rents in Putnam 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
$552 $556 $710 $985 $1,041

Cities In Putnam County

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

City Listings Served By
Cookeville 12 The HUD funded Public Housing Agencies that serve Cookeville are the Cookeville Housing Authority, Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.
Monterey 4 The HUD funded Public Housing Agencies that serve Monterey are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.
Algood 5 The HUD funded Public Housing Agencies that serve Algood are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.
Baxter 1 The HUD funded Public Housing Agencies that serve Baxter are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency East Tennessee Office.