Low Income Apartments In Franklin County
Texas

Low Income Apartments In Franklin County

Winnsboro Manor 1

723 Taylor Dr
Winnsboro, TX

Winnsboro Manor 2

936 Taylor Dr
Winnsboro, TX

Winnsboro Manor 3

964 Taylor Dr
Winnsboro, TX

200 Jackson St

200 Jackson St
Mount Vernon, TX

Winnsboro Square

407 McKinney St
Winnsboro, TX
Subsidized
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There are 5 low income housing apartment complexes which contain 127 affordable apartments for rent in Franklin County, Texas. Many of these rental apartments are income based housing with about 89 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 0 Project-Based Section 8 subsidized apartments in Franklin County. There are 38 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Franklin County

Housing Authority Programs
Ark-Tex Council of Governments Section 8 Housing Choice Voucher

Other Housing Authorities located in Franklin County

Housing Authority Programs
Housing Authority of Winnsboro Public Housing
Housing Authority of Mount Vernon Public Housing

Guide To Affordable Housing in Franklin County, Texas

Franklin County, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 127
Total Rent Assisted Apartments 89
Percentage of Housing Units Occupied By Renters 27.33%
Average Renter Household Size 2.80
Total Population 10,599
Housing Units 4,259
Average Household Size 2.46
Median Household Income $41,537 ±$5,744
Median Rent $700 ±$103
Percentage Of Renters Overburdened 30.41% ± 7.39pp

Population and Household Demographics

Franklin County is a County in Texas with a population of 10,599. There are 4,259 households in the county with an average household size of 2.46 persons. 27.33% of households in Franklin County are renters.

Income and Rent Overburden in Franklin County

The median gross income for households in Franklin County is $41,537 a year, or $3,461 a month. The median rent for the county is $700 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Franklin County, a household making less than $2,333 a month would be considered overburdened when renting an apartment at or above the median rent. 30.41% of households who rent are overburdened in Franklin County.1

Area Median Income In Franklin 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 Franklin County, HUD calculates the Area Median Income for a family of four as $60,300

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 Franklin 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 Franklin County HUD Rental Assistance in Franklin County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,850 $16,460 $20,780 $25,100 $29,420 $33,740 $37,900 $40,350
50% of Median $21,400 $24,450 $27,500 $30,550 $33,000 $35,450 $37,900 $40,350
80% of Median $34,250 $39,150 $44,050 $48,900 $52,850 $56,750 $60,650 $64,550
Low Income Housing Tax Credits in Franklin County

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

From 1988 to 1988, 1 low income apartment communities containing 32 rental apartments have been constructed and made affordable to low income persons in Franklin 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 Franklin County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $25,680 $29,340 $33,000 $36,660 $39,600 $42,540 $45,480 $48,420

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 Franklin County is $33,000 a year, or $2,750 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,750 by 30% to get a maximum rent of $825 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% $535 $573 $688 $794 $886 $978
60% $642 $688 $825 $953 $1,064 $1,174
Fair Market Rents in Franklin 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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$526 $547 $700 $882 $1,230

Cities In Franklin County

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

City Listings Served By
Winnsboro 4 The HUD funded Public Housing Agencies that serve Winnsboro are the Housing Authority of Winnsboro and Ark-Tex Council of Governments.
Mount Vernon 1 The HUD funded Public Housing Agency that serves Mount Vernon is the Ark-Tex Council of Governments.