Affordable Housing In Marble Falls
Burnet County, Texas

8 Low Income Apartment Communities In Marble Falls

Highland Oaks Apartments

1600 Mustang Dr
Marble Falls, TX
$607-721
1-2 BR
55+
HCV Welcome

Rivercrest Apartments

1102 Avenue K
Marble Falls, TX
Subsidized

Highview Retirement Village Apartments

200 Highway 1431
Marble Falls, TX
62+
Accessible
Elderly Supportive Housing
Subsidized

Race Street Lofts

1110 Broadway St
Marble Falls, TX
HCV Welcome

Marble Falls Housing Dev Cor

1106 Brazos
Marble Falls, TX
HCV Welcome

Alta Vista I and II

1001 Pecan Valley Dr
Marble Falls, TX
Subsidized

The Vista Apartments

1700 Mustang Dr
Marble Falls, TX
HCV Welcome

Texas

1508 5th St
Marble Falls, TX
HCV Welcome
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There are 8 low income housing apartment complexes which contain 550 affordable apartments for rent in Marble Falls. Many of these rental apartments are income based housing with 219 apartments that set rent based on your income. In Marble Falls, HUD housing programs support 40 rental assistance apartments through programs like Project-based Section 8. There are 331 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Marble Falls

Housing Authority Programs
Marble Falls Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Marble Falls, Texas

Marble Falls, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 550
Total Rent Assisted Apartments 219
Percentage of Housing Units Occupied By Renters 52.43%
Average Renter Household Size 1.97
Total Population 6,170
Housing Units 2,697
Average Household Size 2.27
Median Household Income $41,120 ±$5,205
Median Rent $860 ±$110
Percentage Of Renters Overburdened 44.34% ± 12.87pp

Population and Household Demographics

Marble Falls is a City in Burnet County, Texas with a population of 6,170. There are 2,697 households in the city with an average household size of 2.27 persons. 52.43% of households in Marble Falls are renters.

Income and Rent Overburden in Marble Falls

The median gross income for households in Marble Falls is $41,120 a year, or $3,427 a month. The median rent for the city is $860 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Marble Falls, a household making less than $2,867 a month would be considered overburdened when renting an apartment at or above the median rent. 44.34% of households who rent are overburdened in Marble Falls.1

Area Median Income In Marble Falls

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 Marble Falls, the AMI is calculated from all households within Burnet County.

In Marble Falls, HUD calculates the Area Median Income for a family of four as $66,800

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 Marble Falls

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 Marble Falls HUD Rental Assistance in Marble Falls

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,050 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,400 $26,750 $30,100 $33,400 $36,100 $38,750 $41,450 $44,100
80% of Median $37,450 $42,800 $48,150 $53,450 $57,750 $62,050 $66,300 $70,600
Low Income Housing Tax Credits in Marble Falls

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

From 2004 to 2005, 2 low income apartment communities containing 344 rental apartments have been constructed and made affordable to low income persons in Marble Falls 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 Marble Falls

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,400 $26,750 $30,100 $33,400 $36,100 $38,750 $41,450 $44,100
60% of Median $28,080 $32,100 $36,120 $40,080 $43,320 $46,500 $49,740 $52,920

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 Marble Falls is $36,120 a year, or $3,010 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,010 by 30% to get a maximum rent of $903 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% $585 $627 $753 $869 $969 $1,069
60% $702 $752 $903 $1,043 $1,163 $1,283
Fair Market Rents in Marble Falls

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
$705 $723 $828 $1,188 $1,298