Affordable Housing In Tennessee Ridge
Housing Authorities that serve Tennessee Ridge
|Tennessee Housing Development Agency Central Office||Section 8 Housing Choice Voucher (HCV); Mainstream Voucher|
|Tennessee Housing Development Agency Middle Tennessee Office||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Tennessee Ridge, Tennessee
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Tennessee Ridge, Tennessee.
Income Based Apartments in Tennessee Ridge, Tennessee
Tennessee Ridge features 0 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 Tennessee Ridge, Tennessee
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Tennessee Ridge.
Housing Choice Vouchers in Tennessee Ridge, Tennessee
On average, Section 8 Housing Choice vouchers pay Tennessee Ridge landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Tennessee Ridge.
The maximum amount a voucher would pay on behalf of a low-income tenant in Tennessee Ridge, Tennessee for a two-bedroom apartment is between $613 and $749.
2020 Tennessee 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||$517||$557||$681||$849||$923|
|Payment Standard Range||$465 to $569||$501 to $613||$613 to $749||$764 to $934||$831 to $1,015|
Sourced from federal housing data and AffordableHousingOnline.com research.
Tennessee Ridge, TN Affordable Housing Snapshot
|Total Affordable Apartment Properties||0|
|Total Low Income Apartments||0|
|Total Housing Units with Rental Assistance||0|
|Percentage of Housing Units Occupied By Renters||23.27%|
|Average Renter Household Size||2.73|
|Average Household Size||2.56|
|Median Household Income||$39,811 ±$6,716|
|Median Rent||$650 ±$116|
|Percentage Of Renters Overburdened||33.59% ± 25pp|
Population and Household Demographics
Tennessee Ridge is a City in Houston County, Tennessee with a population of 1,459. There are 563 households in the city with an average household size of 2.56 persons. 23.27% of households in Tennessee Ridge are renters.
Income and Rent Overburden in Tennessee Ridge
The median gross income for households in Tennessee Ridge is $39,811 a year, or $3,318 a month. The median rent for the city is $650 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Tennessee Ridge, a household making less than $2,167 a month would be considered overburdened when renting an apartment at or above the median rent. 33.59% of households who rent are overburdened in Tennessee Ridge.1
Area Median Income In Tennessee 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 Tennessee Ridge, the AMI is calculated from all households within Houston County.
In Tennessee Ridge, HUD calculates the Area Median Income for a family of four as $52,000
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 Tennessee 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 Tennessee Ridge HUD Rental Assistance in Tennessee Ridge
|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||$28,350||$30,450||$32,550||$34,650|
|50% of Median||$18,400||$21,000||$23,650||$26,250||$28,350||$30,450||$32,550||$34,650|
|80% of Median||$29,400||$33,600||$37,800||$42,000||$45,400||$48,750||$52,100||$55,450|