Affordable Housing In Grundy
Buchanan County, Virginia

Section 8 Vouchers, Apartments, and Waiting Lists in Grundy, Virginia

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Grundy, Virginia

Housing Authority Programs
Buchanan County Board of Supervisors Section 8 Housing Choice Voucher (HCV)
Virginia Housing Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Grundy, Virginia

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Grundy, Virginia.

Income Based Apartments in Grundy, Virginia

Grundy 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 Grundy, Virginia

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Grundy.

Housing Choice Vouchers in Grundy, Virginia

On average, Section 8 Housing Choice vouchers pay Grundy landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Grundy.

The maximum amount a voucher would pay on behalf of a low-income tenant in Grundy, Virginia for a two-bedroom apartment is between $632 and $772.

2022 Grundy, 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
Grundy, Virginia Fair Market Rent $605 $616 $702 $906 $952
Grundy, Virginia Payment Standard Range $545 to $666 $554 to $678 $632 to $772 $815 to $997 $857 to $1,047

Sourced from federal housing data and research.

Grundy, 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 30.09%
Average Renter Household Size 2.22
Average Household Size 2.24
Median Household Income $40,066 ±$8,662
Median Rent $750 ±$114
Percentage Of Renters Overburdened 55.21% ± 30.27pp
Total Population 891

Population and Household Demographics

Grundy is a city in Buchanan County, Virginia with a population of 891. There are 319 households in the city with an average household size of 2.24 persons. 30.09% of households in Grundy are renters.

Income and Rent Overburden in Grundy

The median gross income for households in Grundy is $40,066 a year, or $3,339 a month. The median rent for the city is $750 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Grundy, a household making less than $2,500 a month would be considered overburdened when renting an apartment at or above the median rent. 55.21% of households who rent are overburdened in Grundy.

Area Median Income In Grundy

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 Grundy, the AMI is calculated from all households within Buchanan County.

In Grundy, HUD calculates the Area Median Income for a family of four as $41,100

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 Grundy

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 Grundy

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 Grundy AMI may qualify for rental assistance programs that target Extremely Low Income households.
$12,880 $17,420 $21,960 $26,500 $31,040 $34,650 $37,050 $39,450
50% AMI Income Limits
Renters earning up to 50% of the Grundy AMI may qualify for rental assistance programs that target Very Low Income households.
$20,900 $23,900 $26,900 $29,850 $32,250 $34,650 $37,050 $39,450
80% AMI Income Limits
Renters earning up to 80% of the Grundy AMI may qualify for rental assistance programs that target Low Income households.
$33,450 $38,200 $43,000 $47,750 $51,600 $55,400 $59,250 $63,050