Affordable Housing In Caddo Mills
Hunt County Texas

3 Low Income Apartment Communities In Caddo Mills

2501 Circle Dr

2501 Circle Dr
Caddo Mills, TX

Manor Caddo Mills II

2100 Joshua St
Caddo Mills, TX
Subsidized

Manor Apartments

2305 Gilmer St
Caddo Mills, TX
HCV Welcome
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There are 3 low income housing apartment complexes which contain 60 affordable apartments for rent in Caddo Mills. Many of these rental apartments are income based housing with 36 apartments that set rent based on your income. In Caddo Mills, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 24 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Caddo Mills

Housing Authority Programs
Housing Authority of Caddo Mills Public Housing

Guide To Affordable Housing in Caddo Mills, Texas

Caddo Mills, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 60
Total Rent Assisted Apartments 36
Percentage of Housing Units Occupied By Renters 37.66%
Average Renter Household Size 2.74
Total Population 1,772
Housing Units 563
Average Household Size 3.15
Median Household Income $53,601 ±$6,909
Median Rent $779 ±$19
Percentage Of Renters Overburdened 39.15% ± 10.87pp

Population and Household Demographics

Caddo Mills is a City in Hunt County, Texas with a population of 1,772. There are 563 households in the city with an average household size of 3.15 persons. 37.66% of households in Caddo Mills are renters.

Income and Rent Overburden in Caddo Mills

The median gross income for households in Caddo Mills is $53,601 a year, or $4,467 a month. The median rent for the city is $779 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Caddo Mills, a household making less than $2,597 a month would be considered overburdened when renting an apartment at or above the median rent. 39.15% of households who rent are overburdened in Caddo Mills.1

Area Median Income In Caddo Mills

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 Caddo Mills, the AMI is calculated from all households within Hunt County.

In Caddo Mills, HUD calculates the Area Median Income for a family of four as $83,100

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 Caddo Mills

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 Caddo Mills HUD Rental Assistance in Caddo Mills

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,500 $20,000 $22,500 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $29,100 $33,250 $37,400 $41,550 $44,900 $48,200 $51,550 $54,850
80% of Median $46,550 $53,200 $59,850 $66,500 $71,850 $77,150 $82,500 $87,800
Low Income Housing Tax Credits in Caddo Mills

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, 2 low income apartment communities containing 40 rental apartments have been constructed and made affordable to low income persons in Caddo Mills 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 Caddo Mills

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $34,920 $39,900 $44,880 $49,860 $53,880 $57,840 $61,860 $65,820

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 Caddo Mills is $44,880 a year, or $3,740 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,740 by 30% to get a maximum rent of $1,122 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% $728 $779 $935 $1,081 $1,205 $1,330
60% $873 $935 $1,122 $1,297 $1,446 $1,596
Fair Market Rents in Caddo Mills

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
$836 $989 $1,201 $1,600 $2,080