Affordable Housing In Cochran County
2 Low Income Apartment Communities In Cochran County
Housing Authorities that serve Cochran County
|South Plains Regional Housing Authority||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Cochran County, Texas
There are 2 low income housing apartment communities offering 30 affordable apartments for rent in Cochran County, Texas.
Income Based Apartments in Cochran County, Texas
Cochran County features 10 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 Cochran County, Texas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cochran County.
Housing Choice Vouchers in Cochran County, Texas
On average, Section 8 Housing Choice vouchers pay Cochran County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Cochran County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cochran County, Texas for a two-bedroom apartment is between $643 and $785.
2020 Cochran County, Texas 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||$529||$570||$714||$890||$1,074|
|Payment Standard Range||$476 to $582||$513 to $627||$643 to $785||$801 to $979||$967 to $1,181|
Sourced from federal housing data and AffordableHousingOnline.com research.
Cochran County, TX Affordable Housing Snapshot
|Total Affordable Apartment Properties||2|
|Total Low Income Apartments||30|
|Total Housing Units with Rental Assistance||10|
|Percentage of Housing Units Occupied By Renters||21.07%|
|Average Renter Household Size||2.69|
|Average Household Size||2.79|
|Median Household Income||$39,113 ±$3,514|
|Median Rent||$445 ±$26|
|Percentage Of Renters Overburdened||27.19% ± 10.92pp|
Population and Household Demographics
Cochran County is a county in Texas with a population of 2,993. There are 1,030 households in the county with an average household size of 2.79 persons. 21.07% of households in Cochran County are renters.
Income and Rent Overburden in Cochran County
The median gross income for households in Cochran County is $39,113 a year, or $3,259 a month. The median rent for the county is $445 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cochran County, a household making less than $1,483 a month would be considered overburdened when renting an apartment at or above the median rent. 27.19% of households who rent are overburdened in Cochran County.
Area Median Income In Cochran 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 Cochran County, HUD calculates the Area Median Income for a family of four as $55,500
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 Cochran 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 HUD Rental Assistance in Cochran County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$12,760||$17,240||$21,720||$26,200||$30,680||$34,200||$36,550||$38,900|
|50% of Median||$20,650||$23,600||$26,550||$29,450||$31,850||$34,200||$36,550||$38,900|
|80% of Median||$33,000||$37,700||$42,400||$47,100||$50,900||$54,650||$58,450||$62,200|