Affordable Housing In Lynchburg
Virginia

37 Low Income Apartment Communities In Lynchburg

Hillcrest Apartments

3000 Birchwood Dr
Lynchburg, VA
Income Based
1 BR
Subsidized

James Crossing Apartments

808 Greenfield Dr #29
Lynchburg, VA
$381-700
1-3 BR
Subsidized

Hilltop Homes

101 Jackson St
Lynchburg, VA
Call For Rent
2-4 BR
HCV Welcome

Cornerstone Apartments

1957 Fort Ave
Lynchburg, VA
Call For Rent
1-2 BR
HCV Welcome

College Hill Homes

1014 Wise St
Lynchburg, VA
Call For Rent
1-4 BR

Central City Apartments

1021 Court St
Lynchburg, VA
Call For Rent
1-4 BR

The Meadows Lynchburg

2315 Yorktown Avenue
Lynchburg, VA
Call For Rent
1-4 BR
Subsidized

Wesley Apartments

1201 Long Meadows Dr
Lynchburg, VA
Call For Rent
1 BR
HCV Welcome

Tinbridge Manor

701 Hollins Street
Lynchburg, VA
HCV Welcome

College Hill Apartments

810 Harrison Street
Lynchburg, VA
Subsidized

Housing Authorities that serve Lynchburg

Housing Authority Programs
Lynchburg Redevelopment and Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Lynchburg, Virginia

There are 37 low income housing apartment communities offering 2,449 affordable apartments for rent in Lynchburg, Virginia. Lynchburg features 1,409 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 1,040 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Lynchburg.

Sourced from federal housing data and AffordableHousingOnline.com research.

Lynchburg, VA Affordable Housing Snapshot

Total Affordable Apartment Properties 37
Total Low Income Apartments 2,449
Total Housing Units with Rental Assistance 1,409
Percentage of Housing Units Occupied By Renters 49.32%
Average Renter Household Size 2.28
Average Household Size 2.37
Median Household Income $39,589 ±$1,379
Median Rent $778 ±$18
Percentage Of Renters Overburdened 52.84% ± 3.06pp
Total Population 78,158

Population and Household Demographics

Lynchburg is a City in Virginia with a population of 78,158. There are 28,528 households in the city with an average household size of 2.37 persons. 49.32% of households in Lynchburg are renters.

Income and Rent Overburden in Lynchburg

The median gross income for households in Lynchburg is $39,589 a year, or $3,299 a month. The median rent for the city is $778 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lynchburg, a household making less than $2,593 a month would be considered overburdened when renting an apartment at or above the median rent. 52.84% of households who rent are overburdened in Lynchburg.1

Area Median Income In Lynchburg

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 Lynchburg, 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 Lynchburg

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 Lynchburg HUD Rental Assistance in Lynchburg

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 Lynchburg

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

From 1988 to 2012, 18 low income apartment communities containing 873 rental apartments have been constructed and made affordable to low income persons in Lynchburg 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 Lynchburg

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 Lynchburg 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 Lynchburg

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