Affordable Housing In Greatwood
Fort Bend County, Texas

Guide To Affordable Housing in Greatwood, Texas

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Greatwood, Texas.

Income Based Apartments in Greatwood, Texas

Greatwood features 0 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 Greatwood, Texas

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Greatwood.

Housing Choice Vouchers in Greatwood, Texas

On average, Section 8 Housing Choice vouchers pay Greatwood landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Greatwood.

The maximum amount a voucher would pay on behalf of a low-income tenant in Greatwood, Texas for a two-bedroom apartment is between $1,087 and $1,329.

2022 Greatwood, 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
Greatwood, Texas Fair Market Rent $944 $1,014 $1,208 $1,603 $2,058
Greatwood, Texas Payment Standard Range $850 to $1,038 $913 to $1,115 $1,087 to $1,329 $1,443 to $1,763 $1,852 to $2,264

Sourced from federal housing data and AffordableHousingOnline.com research.

Greatwood, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 6.19%
Average Renter Household Size 2.39
Average Household Size 3.06
Median Household Income $143,125 ±$6,401
Median Rent $1,890 ±$434
Percentage Of Renters Overburdened 57.49% ± 15.48pp
Total Population 12,198

Population and Household Demographics

Greatwood is a city in Fort Bend County, Texas with a population of 12,198. There are 3,990 households in the city with an average household size of 3.06 persons. 6.19% of households in Greatwood are renters.

Income and Rent Overburden in Greatwood

The median gross income for households in Greatwood is $143,125 a year, or $11,927 a month. The median rent for the city is $1,890 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Greatwood, a household making less than $6,300 a month would be considered overburdened when renting an apartment at or above the median rent. 57.49% of households who rent are overburdened in Greatwood.

Area Median Income In Greatwood

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 Greatwood, the AMI is calculated from all households within Fort Bend County.

In Greatwood, HUD calculates the Area Median Income for a family of four as $90,100

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 Greatwood

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 Greatwood

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Greatwood AMI may qualify for rental assistance programs that target Extremely Low Income households.
$18,650 $21,300 $23,950 $27,750 $32,470 $37,190 $41,910 $46,630
50% AMI Income Limits
Renters earning up to 50% of the Greatwood AMI may qualify for rental assistance programs that target Very Low Income households.
$31,050 $35,450 $39,900 $44,300 $47,850 $51,400 $54,950 $58,500
80% AMI Income Limits
Renters earning up to 80% of the Greatwood AMI may qualify for rental assistance programs that target Low Income households.
$49,600 $56,700 $63,800 $70,850 $76,550 $82,200 $87,900 $93,550