Affordable Housing In Botetourt County
Guide To Affordable Housing in Botetourt County, Virginia
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Botetourt County, Virginia.
Income Based Apartments in Botetourt County, Virginia
Botetourt County features 0 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 Botetourt County, Virginia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Botetourt County.
Housing Choice Vouchers in Botetourt County, Virginia
On average, Section 8 Housing Choice vouchers pay Botetourt County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Botetourt County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Botetourt County, Virginia for a two-bedroom apartment is between $791 and $967.
2022 Botetourt County, Virginia 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|
|Botetourt County, Virginia Fair Market Rent||$617||$700||$879||$1,187||$1,316|
|Botetourt County, Virginia Payment Standard Range||$555 to $679||$630 to $770||$791 to $967||$1,068 to $1,306||$1,184 to $1,448|
Sourced from federal housing data and AffordableHousingOnline.com research.
Botetourt County, VA Affordable Housing Snapshot
|Total Affordable Apartment Properties||0|
|Total Low Income Apartments||0|
|Total Housing Units with Rental Assistance||0|
|Percentage of Housing Units Occupied By Renters||12.38%|
|Average Renter Household Size||2.39|
|Average Household Size||2.55|
|Median Household Income||$60,454 ±$2,689|
|Median Rent||$831 ±$77|
|Percentage Of Renters Overburdened||36.15% ± 8.32pp|
Population and Household Demographics
Botetourt County is a county in Virginia with a population of 33,155. There are 12,913 households in the county with an average household size of 2.55 persons. 12.38% of households in Botetourt County are renters.
Income and Rent Overburden in Botetourt County
The median gross income for households in Botetourt County is $60,454 a year, or $5,038 a month. The median rent for the county is $831 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Botetourt County, a household making less than $2,770 a month would be considered overburdened when renting an apartment at or above the median rent. 36.15% of households who rent are overburdened in Botetourt County.
Area Median Income In Botetourt 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 Botetourt County, HUD calculates the Area Median Income for a family of four as $78,400
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 Botetourt 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 Botetourt County
|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 Botetourt County AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Botetourt County AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Botetourt County AMI may qualify for rental assistance programs that target Low Income households.