Affordable Housing In Laguna Vista
Cameron County, Texas

1 Low Income Apartment Communities In Laguna Vista

Bahia Palms Apartments CO Fountainhead Lp

1303 Pino Dr
Laguna Vista, TX
Subsidized
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There are 1 low income housing apartment complexes which contain 64 affordable apartments for rent in Laguna Vista. Many of these rental apartments are income based housing with 64 apartments that set rent based on your income. In Laguna Vista, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 0 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Laguna Vista

Housing Authority Programs
Cameron County Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Laguna Vista, Texas

Laguna Vista, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 64
Total Rent Assisted Apartments 64
Percentage of Housing Units Occupied By Renters 21.54%
Average Renter Household Size 3.31
Total Population 3,211
Housing Units 1,323
Average Household Size 2.43
Median Household Income $54,531 ±$15,521
Median Rent $856 ±$221
Percentage Of Renters Overburdened 53.33% ± 22.71pp

Population and Household Demographics

Laguna Vista is a City in Cameron County, Texas with a population of 3,211. There are 1,323 households in the city with an average household size of 2.43 persons. 21.54% of households in Laguna Vista are renters.

Income and Rent Overburden in Laguna Vista

The median gross income for households in Laguna Vista is $54,531 a year, or $4,544 a month. The median rent for the city is $856 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Laguna Vista, a household making less than $2,853 a month would be considered overburdened when renting an apartment at or above the median rent. 53.33% of households who rent are overburdened in Laguna Vista.1

Area Median Income In Laguna Vista

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 Laguna Vista, the AMI is calculated from all households within Cameron County.

In Laguna Vista, HUD calculates the Area Median Income for a family of four as $44,000

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 Laguna Vista

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 Laguna Vista HUD Rental Assistance in Laguna Vista

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $30,170 $34,050 $36,400 $38,750
50% of Median $20,550 $23,500 $26,450 $29,350 $31,700 $34,050 $36,400 $38,750
80% of Median $32,900 $37,600 $42,300 $46,950 $50,750 $54,500 $58,250 $62,000
Low Income Housing Tax Credits in Laguna Vista

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

From 2006 to 2006, 1 low income apartment communities containing 64 rental apartments have been constructed and made affordable to low income persons in Laguna Vista 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 Laguna Vista

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $20,550 $23,500 $26,450 $29,350 $31,700 $34,050 $36,400 $38,750
60% of Median $24,660 $28,200 $31,740 $35,220 $38,040 $40,860 $43,680 $46,500

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 Laguna Vista is $31,740 a year, or $2,645 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,645 by 30% to get a maximum rent of $794 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% $514 $551 $661 $763 $851 $939
60% $617 $661 $794 $916 $1,022 $1,127
Fair Market Rents in Laguna Vista

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
$559 $563 $718 $964 $1,104