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Affordable Housing In Moody
McLennan County, Texas

1 Low Income Apartment Communities In Moody

1308 Avenue E

1308 Avenue E
Moody, Texas
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Housing Authorities that serve Moody

Housing Authority Programs
Texas Department of Housing and Community Affairs Section 8 Housing Choice Voucher (HCV)
Waco Housing Authority and Affiliates Section 8 Housing Choice Voucher (HCV); Public Housing; Rental Assistance Demonstration (RAD)

Guide To Affordable Housing in Moody, Texas

There are 1 low income housing apartment communities offering 50 affordable apartments for rent in Moody, Texas.

Income Based Apartments in Moody, Texas

Moody features 50 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 Moody, Texas

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

Housing Choice Vouchers in Moody, Texas

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Moody, Texas for a two-bedroom apartment is between $841 and $1,027.

2021 Moody, 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
Moody, Texas Fair Market Rent $686 $721 $934 $1,252 $1,398
Moody, Texas Payment Standard Range $617 to $755 $649 to $793 $841 to $1,027 $1,127 to $1,377 $1,258 to $1,538

Sourced from federal housing data and research.

Moody, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 50
Total Housing Units with Rental Assistance 50
Percentage of Housing Units Occupied By Renters 26.47%
Average Renter Household Size 2.69
Average Household Size 2.82
Median Household Income $38,182 ±$6,350
Median Rent $708 ±$423
Percentage Of Renters Overburdened 60.78% ± 17.26pp
Total Population 1,628

Population and Household Demographics

Moody is a city in McLennan County, Texas with a population of 1,628. There are 578 households in the city with an average household size of 2.82 persons. 26.47% of households in Moody are renters.

Income and Rent Overburden in Moody

The median gross income for households in Moody is $38,182 a year, or $3,182 a month. The median rent for the city is $708 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Moody, a household making less than $2,360 a month would be considered overburdened when renting an apartment at or above the median rent. 60.78% of households who rent are overburdened in Moody.

Area Median Income In Moody

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 Moody, the AMI is calculated from all households within McLennan County.

In Moody, HUD calculates the Area Median Income for a family of four as $61,900

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 Moody

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 Moody

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 Moody AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,150 $17,420 $21,960 $26,500 $31,040 $35,580 $38,750 $41,250
50% AMI Income Limits
Renters earning up to 50% of the Moody AMI may qualify for rental assistance programs that target Very Low Income households.
$21,900 $25,000 $28,150 $31,250 $33,750 $36,250 $38,750 $41,250
80% AMI Income Limits
Renters earning up to 80% of the Moody AMI may qualify for rental assistance programs that target Low Income households.
$35,000 $40,000 $45,000 $50,000 $54,000 $58,000 $62,000 $66,000