Affordable Housing In Meridian
Bosque County, Texas

2 Low Income Apartment Communities In Meridian

205 N 1st St

205 N 1st St
Meridian, TX
Subsidized

407 D St

407 D St
Meridian, TX
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Housing Authorities that serve Meridian

Housing Authority Programs
Housing Authority of Meridian Public Housing
Texas Department of Housing and Community Affairs Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Meridian, Texas

There are 2 low income housing apartment communities offering 70 affordable apartments for rent in Meridian, Texas. Meridian features 70 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Meridian.

Sourced from federal housing data and AffordableHousingOnline.com research.

Meridian, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 70
Total Housing Units with Rental Assistance 70
Percentage of Housing Units Occupied By Renters 48.13%
Average Renter Household Size 2.54
Average Household Size 2.92
Median Household Income $35,188 ±$5,980
Median Rent $555 ±$59
Percentage Of Renters Overburdened 42.07% ± 13.74pp
Total Population 1,714

Population and Household Demographics

Meridian is a City in Bosque County, Texas with a population of 1,714. There are 563 households in the city with an average household size of 2.92 persons. 48.13% of households in Meridian are renters.

Income and Rent Overburden in Meridian

The median gross income for households in Meridian is $35,188 a year, or $2,932 a month. The median rent for the city is $555 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Meridian, a household making less than $1,850 a month would be considered overburdened when renting an apartment at or above the median rent. 42.07% of households who rent are overburdened in Meridian.1

Area Median Income In Meridian

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 Meridian, the AMI is calculated from all households within Bosque County.

In Meridian, HUD calculates the Area Median Income for a family of four as $58,500

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 Meridian

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 Meridian HUD Rental Assistance in Meridian

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
Fair Market Rents in Meridian

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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$529 $542 $714 $890 $1,010