Affordable Housing In Tiptonville
Lake County Tennessee

8 Low Income Apartment Communities In Tiptonville

Lake Ridge Apartments

900 Vaughn Dr
Tiptonville, TN
Call For Rent
1-2 BR
Subsidized

Lake Point Apartments

1775 Vaughn Dr
Tiptonville, TN
Call For Rent
1-2 BR
62+
Subsidized

Colonial House Apartments

1131 Vaughn Dr.
Tiptonville, TN

Wesley Apartments

1155 Reelfoot St
Tiptonville, TN
62+
Accessible
Elderly Supportive Housing
Subsidized

Tiptonville Meadows Apartments

550 Moss St
Tiptonville, TN
Subsidized

Oakhaven Apartments

927 Dixon St
Tiptonville, TN
Subsidized

Carey Counseling Tiptonville

Cherry St
Tiptonville, TN
HCV Welcome

Tiptonville Apartments

524 Cherry St
Tiptonville, TN
Subsidized
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There are 8 low income housing apartment complexes which contain 257 affordable apartments for rent in Tiptonville. Many of these rental apartments are income based housing with 252 apartments that set rent based on your income. In Tiptonville, HUD housing programs support 86 rental assistance apartments through programs like Project-based Section 8. There are 5 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Tiptonville

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

Guide To Affordable Housing in Tiptonville, Tennessee

Tiptonville, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 257
Total Rent Assisted Apartments 252
Percentage of Housing Units Occupied By Renters 46.56%
Average Renter Household Size 2.70
Total Population 4,396
Housing Units 713
Average Household Size 2.50
Median Household Income $27,690 ±$4,326
Median Rent $433 ±$45
Percentage Of Renters Overburdened 37.05% ± 12.52pp

Population and Household Demographics

Tiptonville is a City in Lake County, Tennessee with a population of 4,396. There are 713 households in the city with an average household size of 2.50 persons. 46.56% of households in Tiptonville are renters.

Income and Rent Overburden in Tiptonville

The median gross income for households in Tiptonville is $27,690 a year, or $2,308 a month. The median rent for the city is $433 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Tiptonville, a household making less than $1,443 a month would be considered overburdened when renting an apartment at or above the median rent. 37.05% of households who rent are overburdened in Tiptonville.1

Area Median Income In Tiptonville

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 Tiptonville, the AMI is calculated from all households within Lake County.

In Tiptonville, HUD calculates the Area Median Income for a family of four as $46,700

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 Tiptonville

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 Tiptonville HUD Rental Assistance in Tiptonville

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
Low Income Housing Tax Credits in Tiptonville

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

From 1988 to 1994, 3 low income apartment communities containing 115 rental apartments have been constructed and made affordable to low income persons in Tiptonville 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 Tiptonville

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $22,080 $25,200 $28,380 $31,500 $34,020 $36,540 $39,060 $41,580

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 Tiptonville is $28,380 a year, or $2,365 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,365 by 30% to get a maximum rent of $710 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% $460 $493 $591 $683 $761 $840
60% $552 $591 $710 $819 $914 $1,008
Fair Market Rents in Tiptonville

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
$457 $518 $619 $825 $837