Affordable Housing In New Canton
Virginia
Housing Authorities that serve New Canton
| Housing Authority | Programs |
|---|---|
| Buckingham Housing Development Corp. Inc. | Section 8 Housing Choice Voucher (HCV) |
Guide To Affordable Housing in New Canton, Virginia
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in New Canton, Virginia.
Income Based Apartments in New Canton, Virginia
New Canton 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 New Canton, Virginia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Canton.
Housing Choice Vouchers in New Canton, Virginia
On average, Section 8 Housing Choice vouchers pay New Canton landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in New Canton.
Sourced from federal housing data and AffordableHousingOnline.com research.
Area Median Income In New Canton
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 New Canton, HUD calculates the Area Median Income for a family of four as $57,500
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 New Canton
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 New Canton
| 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 New Canton 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 New Canton 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 New Canton 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 |
