Low Income Apartments In Putnam County
Tennessee


Waiting List Openings In Putnam County

Waiting ListStatus
Tennessee Housing Development Agency East Tennessee Office Housing Choice Voucher Open Soon

Low Income Apartments In Putnam County

Terrace Townhomes

1366 Crescent Dr.
Cookeville, TN
3 BR
HCV Welcome

Garden Grove Apartments

300 Quinland Lake Ct
Cookeville, TN
HCV Welcome

Rolling Meadows Apartments

186 Dry Valley Rd
Algood, TN

Highland Manor II

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

Highland Manor Apartments

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

Walnut Village Apartments

201 S Walnut Ave
Cookeville, TN
Subsidized

Laurel Creek

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

Algood Manor Apartments

100 Maddux Rd
Algood, TN
Subsidized

Algood Village

100 Church Ct
Cookeville, TN
62+
Accessible
Elderly Supportive Housing
Subsidized

Cypress Creek Apartments

600 W 8th St
Cookeville, TN
HCV Welcome

There are 20 low income housing apartment complexes which contain 1,304 affordable apartments for rent in Putnam County, Tennessee. Many of these rental apartments are income based housing with about 916 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 199 Project-Based Section 8 subsidized apartments in Putnam County. There are 388 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Putnam County

Housing Authority Programs
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher
Tennessee Housing Development Agency East Tennessee Office Section 8 Housing Choice Voucher; 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

Putnam County, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 20
Total Low Income Apartments 1,304
Total Rent Assisted Apartments 916
Percentage of Housing Units Occupied By Renters 37.71%
Average Renter Household Size 2.18
Total Population 73,810
Housing Units 29,721
Average Household Size 2.38
Median Household Income $35,343 ±$2,002
Median Rent $616 ±$19
Percentage Of Renters Overburdened 48.43% ± 3.78pp

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 $49,700

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 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 $12,140 $16,460 $20,780 $25,050 $27,100 $29,100 $31,100 $33,100
50% of Median $17,550 $20,050 $22,550 $25,050 $27,100 $29,100 $31,100 $33,100
80% of Median $28,100 $32,100 $36,100 $40,100 $43,350 $46,550 $49,750 $52,950
Low Income Housing Tax Credits in Putnam County

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

From 1987 to 2009, 9 low income apartment communities containing 322 rental apartments have been constructed and made affordable to low income persons in Putnam 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 Putnam County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $21,060 $24,060 $27,060 $30,060 $32,520 $34,920 $37,320 $39,720

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 Putnam County is $27,060 a year, or $2,255 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,255 by 30% to get a maximum rent of $677 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% $439 $470 $564 $652 $728 $803
60% $527 $564 $677 $782 $873 $963
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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$538 $538 $668 $952 $991

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 3 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.