Affordable Housing In Tipton County
Tennessee

14 Low Income Apartment Communities In Tipton County

Surreywood Apartments

Munford Atoka Rd
Munford, TN
HCV Welcome

Sunrise

1150 Simonton St
Covington, TN
HCV Welcome

Cottonwood Estates

1981 Cottonwood Way
Covington, TN
HCV Welcome

Percy Brown Homes

71 E Kenwood Ave
Brighton, TN

Housing Authorities that serve Tipton County

Housing Authority Programs
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher (HCV)
Tennessee Housing Development Agency West Tennessee Office Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Family Self-sufficiency; Veteran Affairs Supportive Housing (VASH); Mainstream Voucher

Other Housing Authorities located in Tipton County

Housing Authority Programs
Covington Housing Authority Public Housing

Guide To Affordable Housing in Tipton County, Tennessee

According to federal housing data and AffordableHousingOnline.com research, there are 14 low income housing apartment communities offering 943 affordable apartments for rent in Tipton County, Tennessee. Tipton County features 663 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 280 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Tipton County.

Tipton County, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 14
Total Low Income Apartments 943
Total Housing Units with Rental Assistance 663
Percentage of Housing Units Occupied By Renters 27.87%
Average Renter Household Size 2.85
Average Household Size 2.82
Median Household Income $53,669 ±$2,038
Median Rent $741 ±$29
Percentage Of Renters Overburdened 40.14% ± 5.74pp
Total Population 61,674

Population and Household Demographics

Tipton County is a County in Tennessee with a population of 61,674. There are 21,575 households in the county with an average household size of 2.82 persons. 27.87% of households in Tipton County are renters.

Income and Rent Overburden in Tipton County

The median gross income for households in Tipton County is $53,669 a year, or $4,472 a month. The median rent for the county is $741 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Tipton County, a household making less than $2,470 a month would be considered overburdened when renting an apartment at or above the median rent. 40.14% of households who rent are overburdened in Tipton County.1

Area Median Income In Tipton 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 Tipton County, HUD calculates the Area Median Income for a family of four as $65,900

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 Tipton 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 Tipton County HUD Rental Assistance in Tipton County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,850 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,100 $26,400 $29,700 $32,950 $35,600 $38,250 $40,900 $43,500
80% of Median $36,900 $42,200 $47,450 $52,700 $56,950 $61,150 $65,350 $69,600
Low Income Housing Tax Credits in Tipton County

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

From 1990 to 2003, 8 low income apartment communities containing 391 rental apartments have been constructed and made affordable to low income persons in Tipton 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 Tipton County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,100 $26,400 $29,700 $32,950 $35,600 $38,250 $40,900 $43,500
60% of Median $27,720 $31,680 $35,640 $39,540 $42,720 $45,900 $49,080 $52,200

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 Tipton County is $35,640 a year, or $2,970 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,970 by 30% to get a maximum rent of $891 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% $578 $619 $743 $857 $956 $1,055
60% $693 $743 $891 $1,028 $1,148 $1,266
Fair Market Rents in Tipton 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
$665 $755 $884 $1,203 $1,374

Cities In Tipton County

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

City Listings Served By
Covington 10 The HUD funded Public Housing Agencies that serve Covington are the Covington Housing Authority, Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Mason 1 The HUD funded Public Housing Agencies that serve Mason are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Munford 2 The HUD funded Public Housing Agencies that serve Munford are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Atoka 0 The HUD funded Public Housing Agencies that serve Atoka are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Brighton 1 The HUD funded Public Housing Agencies that serve Brighton are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Burlison 0 The HUD funded Public Housing Agencies that serve Burlison are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Garland 0 The HUD funded Public Housing Agencies that serve Garland are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.
Gilt Edge 0 The HUD funded Public Housing Agencies that serve Gilt Edge are the Tennessee Housing Development Agency Central Office and Tennessee Housing Development Agency West Tennessee Office.