Affordable Housing In Martinsville
11 Low Income Apartment Communities In Martinsville
Housing Authorities that serve Martinsville
|Danville Redevelopment and Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Mainstream Voucher|
Guide To Affordable Housing in Martinsville, Virginia
There are 11 low income housing apartment communities offering 624 affordable apartments for rent in Martinsville, Virginia.
Income Based Apartments in Martinsville, Virginia
Martinsville features 387 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 Martinsville, Virginia
There are 237 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Martinsville.
Housing Choice Vouchers in Martinsville, Virginia
On average, Section 8 Housing Choice vouchers pay Martinsville landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Martinsville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Martinsville, Virginia for a two-bedroom apartment is between $631 and $771.
2021 Martinsville, 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|
|Martinsville, Virginia Fair Market Rent||$528||$532||$701||$915||$1,000|
|Martinsville, Virginia Payment Standard Range||$475 to $581||$479 to $585||$631 to $771||$824 to $1,007||$900 to $1,100|
Sourced from federal housing data and AffordableHousingOnline.com research.
Martinsville, VA Affordable Housing Snapshot
|Total Affordable Apartment Properties||11|
|Total Low Income Apartments||624|
|Total Housing Units with Rental Assistance||387|
|Percentage of Housing Units Occupied By Renters||47.14%|
|Average Renter Household Size||2.17|
|Average Household Size||2.26|
|Median Household Income||$29,587 ±$3,621|
|Median Rent||$589 ±$31|
|Percentage Of Renters Overburdened||47.27% ± 7.25pp|
Population and Household Demographics
Martinsville is a city in Virginia with a population of 13,624. There are 5,857 households in the city with an average household size of 2.26 persons. 47.14% of households in Martinsville are renters.
Income and Rent Overburden in Martinsville
The median gross income for households in Martinsville is $29,587 a year, or $2,466 a month. The median rent for the city is $589 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Martinsville, a household making less than $1,963 a month would be considered overburdened when renting an apartment at or above the median rent. 47.27% of households who rent are overburdened in Martinsville.
Area Median Income In Martinsville
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 Martinsville, HUD calculates the Area Median Income for a family of four as $46,100
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 Martinsville
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 Martinsville
|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 Martinsville AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Martinsville AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Martinsville AMI may qualify for rental assistance programs that target Low Income households.