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Affordable Housing In Placedo
Victoria County, Texas

Guide To Affordable Housing in Placedo, Texas

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Placedo, Texas.

Income Based Apartments in Placedo, Texas

Placedo features 0 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 Placedo, Texas

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

Housing Choice Vouchers in Placedo, Texas

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Placedo, Texas for a two-bedroom apartment is between $930 and $1,136.

2021 Placedo, 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
Fair Market Rent $723 $837 $1,033 $1,333 $1,473
Payment Standard Range $651 to $795 $753 to $921 $930 to $1,136 $1,200 to $1,466 $1,326 to $1,620

Sourced from federal housing data and AffordableHousingOnline.com research.

Placedo, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 37.84%
Average Renter Household Size 2.95
Average Household Size 3.29
Median Household Income $30,260 ±$9,393
Median Rent $575 ±$125
Percentage Of Renters Overburdened 30.61% ± 28.09pp
Total Population 851

Population and Household Demographics

Placedo is a city in Victoria County, Texas with a population of 851. There are 259 households in the city with an average household size of 3.29 persons. 37.84% of households in Placedo are renters.

Income and Rent Overburden in Placedo

The median gross income for households in Placedo is $30,260 a year, or $2,522 a month. The median rent for the city is $575 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Placedo, a household making less than $1,917 a month would be considered overburdened when renting an apartment at or above the median rent. 30.61% of households who rent are overburdened in Placedo.

Area Median Income In Placedo

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 Placedo, the AMI is calculated from all households within Victoria County.

In Placedo, HUD calculates the Area Median Income for a family of four as $68,800

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 Placedo

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 Placedo

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,500 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $24,100 $27,550 $31,000 $34,400 $37,200 $39,950 $42,700 $45,450
80% of Median $38,550 $44,050 $49,550 $55,050 $59,500 $63,900 $68,300 $72,700