Low Income Apartments In Potter County
Texas
Low Income Apartments In Potter County
Independence Village
Community Options Amarillo
There are 25 low income housing apartment complexes which contain 2,397 affordable apartments for rent in Potter County, Texas. Many of these rental apartments are income based housing with about 655 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 442 Project-Based Section 8 subsidized apartments in Potter County. There are 1,742 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.
Housing Authorities that serve Potter County
| Housing Authority | Programs |
|---|---|
| Panhandle Community Services | Section 8 Housing Choice Voucher; Veteran Affairs Supportive Housing |
Other Housing Authorities located in Potter County
| Housing Authority | Programs |
|---|---|
| City of Amarillo Community Development Department | Section 8 Housing Choice Voucher |
Guide To Affordable Housing in Potter County, Texas
Potter County, TX Affordable Housing Snapshot
| Total Affordable Apartment Properties | 25 |
|---|---|
| Total Low Income Apartments | 2,397 |
| Total Rent Assisted Apartments | 655 |
| Percentage of Housing Units Occupied By Renters | 42.22% |
| Average Renter Household Size | 2.56 |
| Total Population | 122,352 |
| Housing Units | 43,227 |
| Average Household Size | 2.68 |
| Median Household Income | $38,159 ±$1,738 |
| Median Rent | $716 ±$16 |
| Percentage Of Renters Overburdened | 47.39% ± 2.78pp |
Population and Household Demographics
Potter County is a County in Texas with a population of 122,352. There are 43,227 households in the county with an average household size of 2.68 persons. 42.22% of households in Potter County are renters.
Income and Rent Overburden in Potter County
The median gross income for households in Potter County is $38,159 a year, or $3,180 a month. The median rent for the county is $716 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Potter County, a household making less than $2,387 a month would be considered overburdened when renting an apartment at or above the median rent. 47.39% of households who rent are overburdened in Potter County.1
Area Median Income In Potter 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 Potter County, HUD calculates the Area Median Income for a family of four as $66,500
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 Potter 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 Potter County HUD Rental Assistance in Potter County
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% of Median | $14,000 | $16,460 | $20,780 | $25,100 | $29,420 | $33,740 | $38,060 | $42,380 |
| 50% of Median | $23,300 | $26,600 | $29,950 | $33,250 | $35,950 | $38,600 | $41,250 | $43,900 |
| 80% of Median | $37,250 | $42,600 | $47,900 | $53,200 | $57,500 | $61,750 | $66,000 | $70,250 |
Low Income Housing Tax Credits in Potter County
The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.
From 1988 to 2009, 30 low income apartment communities containing 1,590 rental apartments have been constructed and made affordable to low income persons in Potter 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 Potter County
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 60% of Median | $27,960 | $31,920 | $35,940 | $39,900 | $43,140 | $46,320 | $49,500 | $52,680 |
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 Potter County is $35,940 a year, or $2,995 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,995 by 30% to get a maximum rent of $899 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% | $583 | $624 | $749 | $865 | $965 | $1,064 |
| 60% | $699 | $749 | $899 | $1,038 | $1,158 | $1,277 |
Fair Market Rents in Potter 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 |
|---|---|---|---|---|
| $553 | $654 | $849 | $1,148 | $1,293 |
Cities In Potter County
Select A City to View its Apartment Communities and Waiting Lists.
| City | Listings | Served By |
|---|---|---|
| Amarillo | 25 | The HUD funded Public Housing Agencies that serve Amarillo are the City of Amarillo Community Development Department and Panhandle Community Services. |
| Bishop Hills | 0 | The HUD funded Public Housing Agency that serves Bishop Hills is the Panhandle Community Services. |
