Affordable Housing In Prince Edward County
Housing Authorities that serve Prince Edward County
|Buckingham Housing Development Corp. Inc.||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Prince Edward County, Virginia
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Prince Edward County, Virginia.
Income Based Apartments in Prince Edward County, Virginia
Prince Edward County 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 Prince Edward County, Virginia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Prince Edward County.
Housing Choice Vouchers in Prince Edward County, Virginia
On average, Section 8 Housing Choice vouchers pay Prince Edward County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Prince Edward County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Prince Edward County, Virginia for a two-bedroom apartment is between $793 and $969.
2021 Prince Edward County, 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|
|Prince Edward County, Virginia Fair Market Rent||$593||$668||$881||$1,096||$1,301|
|Prince Edward County, Virginia Payment Standard Range||$534 to $652||$601 to $735||$793 to $969||$986 to $1,206||$1,171 to $1,431|
Sourced from federal housing data and AffordableHousingOnline.com research.
Prince Edward County, 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||35.2%|
|Average Renter Household Size||2.27|
|Average Household Size||2.49|
|Median Household Income||$41,697 ±$3,991|
|Median Rent||$749 ±$51|
|Percentage Of Renters Overburdened||32.06% ± 7.43pp|
Population and Household Demographics
Prince Edward County is a county in Virginia with a population of 23,022. There are 7,409 households in the county with an average household size of 2.49 persons. 35.2% of households in Prince Edward County are renters.
Income and Rent Overburden in Prince Edward County
The median gross income for households in Prince Edward County is $41,697 a year, or $3,475 a month. The median rent for the county is $749 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Prince Edward County, a household making less than $2,497 a month would be considered overburdened when renting an apartment at or above the median rent. 32.06% of households who rent are overburdened in Prince Edward County.
Area Median Income In Prince Edward County
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 Prince Edward County, HUD calculates the Area Median Income for a family of four as $59,400
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 Prince Edward County
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 Prince Edward County
|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 Prince Edward County AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Prince Edward County AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Prince Edward County AMI may qualify for rental assistance programs that target Low Income households.
Cities In Prince Edward County
Select A City to View its Apartment Communities and Waiting Lists.
|Hampden Sydney||The HUD funded Public Housing Agency that serves Hampden Sydney is the Buckingham Housing Development Corp. Inc..|
|Hampden-Sydney||The HUD funded Public Housing Agency that serves Hampden-Sydney is the Buckingham Housing Development Corp. Inc..|