Affordable Housing In Essex Junction
5 Low Income Apartment Communities In Essex Junction
Housing Authorities that serve Essex Junction
|Vermont State Housing Authority||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Essex Junction, Vermont
There are 5 low income housing apartment communities offering 216 affordable apartments for rent in Essex Junction, Vermont.
Income Based Apartments in Essex Junction, Vermont
Essex Junction features 112 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 Essex Junction, Vermont
There are 104 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Essex Junction.
Housing Choice Vouchers in Essex Junction, Vermont
On average, Section 8 Housing Choice vouchers pay Essex Junction landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Essex Junction.
The maximum amount a voucher would pay on behalf of a low-income tenant in Essex Junction, Vermont for a two-bedroom apartment is between $1,465 and $1,791.
2021 Essex Junction, Vermont 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|
|Essex Junction, Vermont Fair Market Rent||$1,091||$1,265||$1,628||$2,025||$2,208|
|Essex Junction, Vermont Payment Standard Range||$982 to $1,200||$1,139 to $1,392||$1,465 to $1,791||$1,823 to $2,228||$1,987 to $2,429|
Sourced from federal housing data and AffordableHousingOnline.com research.
Essex Junction, VT Affordable Housing Snapshot
|Total Affordable Apartment Properties||5|
|Total Low Income Apartments||216|
|Total Housing Units with Rental Assistance||112|
|Percentage of Housing Units Occupied By Renters||37.67%|
|Average Renter Household Size||2.15|
|Average Household Size||2.35|
|Median Household Income||$64,303 ±$10,735|
|Median Rent||$1,091 ±$78|
|Percentage Of Renters Overburdened||54.16% ± 11.64pp|
Population and Household Demographics
Essex Junction is a city in Chittenden County, Vermont with a population of 9,709. There are 4,112 households in the city with an average household size of 2.35 persons. 37.67% of households in Essex Junction are renters.
Income and Rent Overburden in Essex Junction
The median gross income for households in Essex Junction is $64,303 a year, or $5,359 a month. The median rent for the city is $1,091 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Essex Junction, a household making less than $3,637 a month would be considered overburdened when renting an apartment at or above the median rent. 54.16% of households who rent are overburdened in Essex Junction.
Area Median Income In Essex Junction
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 Essex Junction, the AMI is calculated from all households within Chittenden County.
In Essex Junction, HUD calculates the Area Median Income for a family of four as $89,700
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 Essex Junction
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 Essex Junction
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Essex Junction AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Essex Junction AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Essex Junction AMI may qualify for rental assistance programs that target Low Income households.