Low Income Apartments In Palo Pinto County
Texas

Low Income Apartments In Palo Pinto County

Cedar View Apartments

1701 Highway 180 West
Mineral Wells, TX
HCV Welcome

Sandstone Foothills

402 Brazos Dr
Mineral Wells, TX
62+
Accessible
Elderly Supportive Housing
Subsidized

Mineral Wells Pioneer Crossing

2509 E Hubbard St
Mineral Wells, TX
HCV Welcome

Royal Gardens Mineral Wells

1500 SE Martin Luther King Jr St
Mineral Wells, TX
HCV Welcome

201 NE 27th St

201 NE 27th St
Mineral Wells, TX

Southridge Apartments

103 SE 19th St
Mineral Wells, TX
Subsidized
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There are 6 low income housing apartment complexes which contain 407 affordable apartments for rent in Palo Pinto County. Many of these rental apartments are income based housing with 180 apartments that set rent based on your income. In Palo Pinto County, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 227 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Other Housing Authorities located in Palo Pinto County

Housing Authority Programs
Housing Authority of Strawn Public Housing
Housing Authority the City of Mineral Wells Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Palo Pinto County, Texas

Palo Pinto County, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 407
Total Rent Assisted Apartments 180
Percentage of Housing Units Occupied By Renters 31.88%
Average Renter Household Size 2.73
Total Population 27,921
Housing Units 10,562
Average Household Size 2.62
Median Household Income $39,516 ±$1,932
Median Rent $702 ±$41
Percentage Of Renters Overburdened 44.91% ± 6.45pp

Population and Household Demographics

Palo Pinto County is a County in Texas with a population of 27,921. There are 10,562 households in the county with an average household size of 2.62 persons. 31.88% of households in Palo Pinto County are renters.

Income and Rent Overburden in Palo Pinto County

The median gross income for households in Palo Pinto County is $39,516 a year, or $3,293 a month. The median rent for the county is $702 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Palo Pinto County, a household making less than $2,340 a month would be considered overburdened when renting an apartment at or above the median rent. 44.91% of households who rent are overburdened in Palo Pinto County.1

Area Median Income In Palo Pinto County

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.

In Palo Pinto County, HUD calculates the Area Median Income for a family of four as $54,300

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 Palo Pinto County

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 Palo Pinto County HUD Rental Assistance in Palo Pinto County

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 Palo Pinto County

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

From 1992 to 2010, 3 low income apartment communities containing 267 rental apartments have been constructed and made affordable to low income persons in Palo Pinto County 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 Palo Pinto County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
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 Palo Pinto County 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 Palo Pinto County

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
$532 $601 $783 $1,058 $1,281

Cities In Palo Pinto County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Mineral Wells 6 The HUD funded Public Housing Agency that serves Mineral Wells is the Housing Authority the City of Mineral Wells.
Gordon 0
Graford 0
Mingus 0
Palo Pinto 0
Strawn 0