Affordable Housing In East Lexington
Housing Authorities that serve East Lexington
|Rockbridge Area Rental Assistance Office||Section 8 Housing Choice Voucher (HCV)|
|Virginia Housing||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in East Lexington, Virginia
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in East Lexington, Virginia.
Income Based Apartments in East Lexington, Virginia
East Lexington 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 East Lexington, Virginia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in East Lexington.
Housing Choice Vouchers in East Lexington, Virginia
On average, Section 8 Housing Choice vouchers pay East Lexington landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in East Lexington.
The maximum amount a voucher would pay on behalf of a low-income tenant in East Lexington, Virginia for a two-bedroom apartment is between $693 and $847.
2021 East Lexington, 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|
|East Lexington, Virginia Fair Market Rent||$508||$620||$770||$1,029||$1,049|
|East Lexington, Virginia Payment Standard Range||$457 to $559||$558 to $682||$693 to $847||$926 to $1,132||$944 to $1,154|
Sourced from federal housing data and AffordableHousingOnline.com research.
East Lexington, 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||54.88%|
|Average Renter Household Size||1.83|
|Average Household Size||2.21|
|Median Household Income||$36,856 ±$6,304|
|Median Rent||$653 ±$408|
|Percentage Of Renters Overburdened||52.96% ± 28.13pp|
Population and Household Demographics
East Lexington is a city in Rockbridge County, Virginia with a population of 1,171. There are 492 households in the city with an average household size of 2.21 persons. 54.88% of households in East Lexington are renters.
Income and Rent Overburden in East Lexington
The median gross income for households in East Lexington is $36,856 a year, or $3,071 a month. The median rent for the city is $653 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In East Lexington, a household making less than $2,177 a month would be considered overburdened when renting an apartment at or above the median rent. 52.96% of households who rent are overburdened in East Lexington.
Area Median Income In East Lexington
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 East Lexington, the AMI is calculated from all households within Rockbridge County.
In East Lexington, HUD calculates the Area Median Income for a family of four as $61,200
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 East Lexington
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 East Lexington
|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 East Lexington AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the East Lexington AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the East Lexington AMI may qualify for rental assistance programs that target Low Income households.