Affordable Housing In Wood County

6 Low Income Apartment Communities In Wood County

Madison Oaks Apartments

1015 Gilmer Road
Winnsboro, TX
Call For Rent
1-3 BR
HCV Welcome

West Meadows Apartments

784 Goodson Cir
Mineola, TX

Yantis Village

100 Village Circle
Yantis, TX
HCV Welcome

Pine Villas CO Ashcroft Group

704 S McAllister St
Quitman, TX
HCV Welcome

Mineola Seniors Community

1136 N Newsom St
Mineola, TX
HCV Welcome

Quitman Square

202 Richards St
Quitman, TX
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Other Housing Authorities located in Wood County

Housing Authority Programs
Housing Authority of the City of Mineola Public Housing
Housing Authority of Alba Public Housing
Housing Authority of Winnsboro Public Housing

Guide To Affordable Housing in Wood County, Texas

According to federal housing data and research, there are 6 low income housing apartment communities offering 200 affordable apartments for rent in Wood County, Texas. Wood County features 44 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 156 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Wood County.

Wood County, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 200
Total Housing Units with Rental Assistance 44
Percentage of Housing Units Occupied By Renters 20.01%
Average Renter Household Size 2.65
Average Household Size 2.57
Median Household Income $45,686 ±$2,702
Median Rent $738 ±$27
Percentage Of Renters Overburdened 43.36% ± 6.18pp
Total Population 42,712

Population and Household Demographics

Wood County is a County in Texas with a population of 42,712. There are 16,064 households in the county with an average household size of 2.57 persons. 20.01% of households in Wood County are renters.

Income and Rent Overburden in Wood County

The median gross income for households in Wood County is $45,686 a year, or $3,807 a month. The median rent for the county is $738 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wood County, a household making less than $2,460 a month would be considered overburdened when renting an apartment at or above the median rent. 43.36% of households who rent are overburdened in Wood County.1

Area Median Income In Wood 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 Wood County, HUD calculates the Area Median Income for a family of four as $59,100

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 Wood 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 Wood County HUD Rental Assistance in Wood 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 $34,300 $36,650 $39,050
50% of Median $20,700 $23,650 $26,600 $29,550 $31,950 $34,300 $36,650 $39,050
80% of Median $33,150 $37,850 $42,600 $47,300 $51,100 $54,900 $58,700 $62,450
Low Income Housing Tax Credits in Wood County

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

From 1989 to 1995, 4 low income apartment communities containing 120 rental apartments have been constructed and made affordable to low income persons in Wood 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 Wood County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $20,700 $23,650 $26,600 $29,550 $31,950 $34,300 $36,650 $39,050
60% of Median $24,840 $28,380 $31,920 $35,460 $38,340 $41,160 $43,980 $46,860

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 Wood County is $31,920 a year, or $2,660 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,660 by 30% to get a maximum rent of $798 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% $518 $554 $665 $769 $858 $946
60% $621 $665 $798 $923 $1,029 $1,136
Fair Market Rents in Wood 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
$561 $579 $756 $1,006 $1,327

Cities In Wood County

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

City Listings Served By
Quitman 2
Yantis 1
Mineola 2 The HUD funded Public Housing Agencies that serve Mineola are the Housing Authority of the City of Mineola and City of Tyler Housing Agency.
Hawkins 0
Holly Lake Ranch 0
Alba 2 The HUD funded Public Housing Agencies that serve Alba are the Housing Authority of Alba and City of Tyler Housing Agency.