Affordable Housing In Bedford
Bedford County, Virginia

6 Low Income Apartment Communities In Bedford

John Early Apartments

720 Blue Ridge Avenue
Bedford, VA
Income Based
1-2 BR
Subsidized

Liberty Manor Apartments

889 Short St
Bedford, VA
Subsidized

Josephs Dream

1301 Josephs Way
Bedford, VA
62+
Accessible
Elderly Supportive Housing
Subsidized

Pinecrest Apartments

691 Pinecrest Ave
Bedford, VA
Subsidized

Salem Court Apartments

1001 Salem Tpke
Bedford, VA
HCV Welcome

John Early

718 Blue Ridge Ave
Bedford, VA
HCV Welcome
  • «
  • 1
  • »

Housing Authorities that serve Bedford

Housing Authority Programs
Step Inc. Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Bedford, Virginia

According to federal housing data and AffordableHousingOnline.com research, there are 6 low income housing apartment communities offering 416 affordable apartments for rent in Bedford, Virginia. Bedford features 258 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 158 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Bedford.

Bedford, VA Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 416
Total Housing Units with Rental Assistance 258
Percentage of Housing Units Occupied By Renters 50.3%
Average Renter Household Size 1.85
Average Household Size 2.24
Median Household Income $35,049 ±$8,776
Median Rent $666 ±$23
Percentage Of Renters Overburdened 42.02% ± 11.67pp
Total Population 6,522

Population and Household Demographics

Bedford is a City in Bedford County, Virginia with a population of 6,522. There are 2,815 households in the city with an average household size of 2.24 persons. 50.3% of households in Bedford are renters.

Income and Rent Overburden in Bedford

The median gross income for households in Bedford is $35,049 a year, or $2,921 a month. The median rent for the city is $666 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bedford, a household making less than $2,220 a month would be considered overburdened when renting an apartment at or above the median rent. 42.02% of households who rent are overburdened in Bedford.1

Area Median Income In Bedford

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 Bedford, the AMI is calculated from all households within Bedford County.

In Bedford, HUD calculates the Area Median Income for a family of four as $68,900

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 Bedford

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 Bedford HUD Rental Assistance in Bedford

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,500 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,150 $27,600 $31,050 $34,450 $37,250 $40,000 $42,750 $45,500
80% of Median $38,600 $44,100 $49,600 $55,100 $59,550 $63,950 $68,350 $72,750
Low Income Housing Tax Credits in Bedford

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

From 1994 to 2008, 2 low income apartment communities containing 118 rental apartments have been constructed and made affordable to low income persons in Bedford 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 Bedford

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $24,150 $27,600 $31,050 $34,450 $37,250 $40,000 $42,750 $45,500
60% of Median $28,980 $33,120 $37,260 $41,340 $44,700 $48,000 $51,300 $54,600

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 Bedford is $37,260 a year, or $3,105 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,105 by 30% to get a maximum rent of $932 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% $604 $647 $776 $896 $1,000 $1,103
60% $725 $776 $932 $1,076 $1,200 $1,324
Fair Market Rents in Bedford

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
$630 $676 $821 $1,106 $1,339