Affordable Housing In Parker County
Texas

14 Low Income Apartment Communities In Parker County

Regency Apartments

7080 Lamar Rd
Reno, TX
HCV Welcome

Reno Plaza Apartments

7075 Lamar Rd
Reno, TX
Subsidized

Meadow Vista

White Settlement Rd
Weatherford, TX
HCV Welcome

Spring Garden V

1015 Marc Pl
Springtown, TX
HCV Welcome

Housing Authorities that serve Parker County

Housing Authority Programs
Weatherford Housing Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Parker County, Texas

According to federal housing data and AffordableHousingOnline.com research, there are 14 low income housing apartment communities offering 900 affordable apartments for rent in Parker County, Texas. Parker County features 442 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 458 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Parker County.

Parker County, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 14
Total Low Income Apartments 900
Total Housing Units with Rental Assistance 442
Percentage of Housing Units Occupied By Renters 22.25%
Average Renter Household Size 2.60
Average Household Size 2.78
Median Household Income $67,288 ±$2,635
Median Rent $900 ±$28
Percentage Of Renters Overburdened 38.38% ± 4.26pp
Total Population 121,418

Population and Household Demographics

Parker County is a County in Texas with a population of 121,418. There are 42,781 households in the county with an average household size of 2.78 persons. 22.25% of households in Parker County are renters.

Income and Rent Overburden in Parker County

The median gross income for households in Parker County is $67,288 a year, or $5,607 a month. The median rent for the county is $900 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Parker County, a household making less than $3,000 a month would be considered overburdened when renting an apartment at or above the median rent. 38.38% of households who rent are overburdened in Parker County.1

Area Median Income In Parker 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 Parker County, HUD calculates the Area Median Income for a family of four as $76,000

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 Parker 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 Parker County HUD Rental Assistance in Parker County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,000 $18,250 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $26,600 $30,400 $34,200 $38,000 $41,050 $44,100 $47,150 $50,200
80% of Median $42,600 $48,650 $54,750 $60,800 $65,700 $70,550 $75,400 $80,300
Low Income Housing Tax Credits in Parker County

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

From 1991 to 2006, 5 low income apartment communities containing 521 rental apartments have been constructed and made affordable to low income persons in Parker 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 Parker County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $26,600 $30,400 $34,200 $38,000 $41,050 $44,100 $47,150 $50,200
60% of Median $31,920 $36,480 $41,040 $45,600 $49,260 $52,920 $56,580 $60,240

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 Parker County is $41,040 a year, or $3,420 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,420 by 30% to get a maximum rent of $1,026 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% $665 $713 $855 $988 $1,103 $1,217
60% $798 $855 $1,026 $1,186 $1,323 $1,460
Fair Market Rents in Parker 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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$838 $945 $1,165 $1,579 $1,980

Cities In Parker County

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

City Listings Served By
Azle 4 The HUD funded Public Housing Agency that serves Azle is the Weatherford Housing Authority.
Weatherford 4 The HUD funded Public Housing Agency that serves Weatherford is the Weatherford Housing Authority.
Springtown 4 The HUD funded Public Housing Agency that serves Springtown is the Weatherford Housing Authority.
Aledo 0 The HUD funded Public Housing Agency that serves Aledo is the Weatherford Housing Authority.
Annetta 0 The HUD funded Public Housing Agency that serves Annetta is the Weatherford Housing Authority.
Annetta North 0 The HUD funded Public Housing Agency that serves Annetta North is the Weatherford Housing Authority.
Annetta South 0 The HUD funded Public Housing Agency that serves Annetta South is the Weatherford Housing Authority.
Briar 0 The HUD funded Public Housing Agency that serves Briar is the Weatherford Housing Authority.
Cool 0 The HUD funded Public Housing Agency that serves Cool is the Weatherford Housing Authority.
Horseshoe Bend 0 The HUD funded Public Housing Agency that serves Horseshoe Bend is the Weatherford Housing Authority.
Hudson Oaks 0 The HUD funded Public Housing Agency that serves Hudson Oaks is the Weatherford Housing Authority.
Millsap 0 The HUD funded Public Housing Agency that serves Millsap is the Weatherford Housing Authority.
Reno 2 The HUD funded Public Housing Agency that serves Reno is the Weatherford Housing Authority.
Sanctuary 0 The HUD funded Public Housing Agency that serves Sanctuary is the Weatherford Housing Authority.
Western Lake 0 The HUD funded Public Housing Agency that serves Western Lake is the Weatherford Housing Authority.
Willow Park 0 The HUD funded Public Housing Agency that serves Willow Park is the Weatherford Housing Authority.