Affordable Housing In Colorado City
3 Low Income Apartment Communities In Colorado City
Housing Authorities that serve Colorado City
|Housing Authority of Colorado City||Public Housing|
|Abilene Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV); Mainstream Voucher; Section 8 HCV Money Follows the Person (MFP); Public Housing Money Follows the Person (MFP)|
Guide To Affordable Housing in Colorado City, Texas
There are 3 low income housing apartment communities offering 61 affordable apartments for rent in Colorado City, Texas.
Income Based Apartments in Colorado City, Texas
Colorado City features 24 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 Colorado City, Texas
There are 37 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Colorado City.
Housing Choice Vouchers in Colorado City, Texas
On average, Section 8 Housing Choice vouchers pay Colorado City landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Colorado City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Colorado City, Texas for a two-bedroom apartment is between $643 and $785.
2020 Colorado City, 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||$542||$714||$910||$1,110|
|Payment Standard Range||$476 to $582||$488 to $596||$643 to $785||$819 to $1,001||$999 to $1,221|
Sourced from federal housing data and AffordableHousingOnline.com research.
Colorado City, TX Affordable Housing Snapshot
|Total Affordable Apartment Properties||3|
|Total Low Income Apartments||61|
|Total Housing Units with Rental Assistance||24|
|Percentage of Housing Units Occupied By Renters||37.43%|
|Average Renter Household Size||2.89|
|Average Household Size||2.49|
|Median Household Income||$48,205 ±$7,115|
|Median Rent||$609 ±$32|
|Percentage Of Renters Overburdened||25.63% ± 15.8pp|
Population and Household Demographics
Colorado City is a City in Mitchell County, Texas with a population of 4,122. There are 1,595 households in the city with an average household size of 2.49 persons. 37.43% of households in Colorado City are renters.
Income and Rent Overburden in Colorado City
The median gross income for households in Colorado City is $48,205 a year, or $4,017 a month. The median rent for the city is $609 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Colorado City, a household making less than $2,030 a month would be considered overburdened when renting an apartment at or above the median rent. 25.63% of households who rent are overburdened in Colorado City.1
Area Median Income In Colorado City
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 Colorado City, the AMI is calculated from all households within Mitchell County.
In Colorado City, HUD calculates the Area Median Income for a family of four as $66,400
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 Colorado City
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 Colorado City
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$13,950||$16,910||$21,330||$25,750||$30,170||$34,590||$39,010||$43,430|
|50% of Median||$23,250||$26,600||$29,900||$33,200||$35,900||$38,550||$41,200||$43,850|
|80% of Median||$37,200||$42,500||$47,800||$53,100||$57,350||$61,600||$65,850||$70,100|