Affordable Housing In Young County
8 Low Income Apartment Communities In Young County
Guide To Affordable Housing in Young County, Texas
There are 8 low income housing apartment communities offering 565 affordable apartments for rent in Young County, Texas.
Income Based Apartments in Young County, Texas
Young County features 313 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 Young County, Texas
There are 252 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Young County.
Housing Choice Vouchers in Young County, Texas
On average, Section 8 Housing Choice vouchers pay Young County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Young County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Young County, Texas for a two-bedroom apartment is between $643 and $785.
2020 Young County, 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||$529||$542||$714||$956||$1,074|
|Payment Standard Range||$476 to $582||$488 to $596||$643 to $785||$860 to $1,052||$967 to $1,181|
Sourced from federal housing data and AffordableHousingOnline.com research.
Young County, TX Affordable Housing Snapshot
|Total Affordable Apartment Properties||8|
|Total Low Income Apartments||565|
|Total Housing Units with Rental Assistance||313|
|Percentage of Housing Units Occupied By Renters||22.52%|
|Average Renter Household Size||2.52|
|Average Household Size||2.54|
|Median Household Income||$44,693 ±$5,179|
|Median Rent||$622 ±$48|
|Percentage Of Renters Overburdened||34.08% ± 9.19pp|
Population and Household Demographics
Young County is a county in Texas with a population of 18,329. There are 7,115 households in the county with an average household size of 2.54 persons. 22.52% of households in Young County are renters.
Income and Rent Overburden in Young County
The median gross income for households in Young County is $44,693 a year, or $3,724 a month. The median rent for the county is $622 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Young County, a household making less than $2,073 a month would be considered overburdened when renting an apartment at or above the median rent. 34.08% of households who rent are overburdened in Young County.
Area Median Income In Young 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 Young County, HUD calculates the Area Median Income for a family of four as $61,600
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 Young 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 HUD Rental Assistance in Young County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$12,950||$17,240||$21,720||$26,200||$30,680||$35,160||$38,200||$40,700|
|50% of Median||$21,600||$24,650||$27,750||$30,800||$33,300||$35,750||$38,200||$40,700|
|80% of Median||$34,550||$39,450||$44,400||$49,300||$53,250||$57,200||$61,150||$65,100|