Low Income Apartments In Potter County

Low Income Apartments In Potter County

Town Parc at Amarillo

6501 Woodward Ave
Amarillo, TX
1-3 BR
HCV Welcome

The Granite at Thirty-Fourth

3308 Eddy St
Amarillo, TX
1-2 BR

Canyons at 45 West

4101 SW 45th
Amarillo, TX
1-3 BR
HCV Welcome

Independence Village

4700 S Virginia St
Amarillo, TX
Studio-2 BR
Elderly Supportive Housing

Spring Terrace Apartments

2600 S Spring St
Amarillo, TX

Win Lin Village Apartments

5700 Wabash St
Amarillo, TX

Amarillo Gardens Apartments

1223 S Roberts St
Amarillo, TX

Community Options Amarillo

4205 Vance Ave
Amarillo, TX
Disabled Supportive Housing

Northwest Village

6101 W Interstate 40
Amarillo, TX

Winwood of Amarillo

4421 Ridgecrest Cir
Amarillo, TX

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.