Affordable Housing In Richmond
Virginia
Affordable Housing programs support 9,002 income based apartments in Richmond where households pay rent based on how much they earn.
There are 9,800 affordable apartments in Richmond that offer reduced rents to low-income households.
Waiting Lists in Richmond, Virginia
There are no open Section 8 Housing Choice Voucher waiting lists in Richmond. Go to the Virginia Section 8 Waiting Lists page for openings near Richmond.
The Mirage at Manchester
Alexander at 1090 Apartments
Saints Cosma and Damianos House
Public Housing Agencies Serving Richmond, 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.
Waiting lists for project-based assistance, like the Public Housing program, are open:
- New Clay House II and Cary West is currently open for new applications.
- Family is currently open for new applications.
- Multi-Property is currently open for new applications.
- Armstrong Rennaissance 1B is currently open for new applications.
- Single Room Occupancy (SRO) is currently open for new applications.
- The Alexander at 1090 Apartments is currently open for new applications.
| Housing Authority | Programs |
|---|---|
| Richmond Redevelopment and Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH) |
| Central Virginia Resource Corporation - Main | Section 8 Housing Choice Voucher (HCV) |
Richmond, Virginia Affordable Housing Data
Income Based Apartments in Richmond, Virginia
Richmond features 9,002 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 Richmond, Virginia
There are 9,800 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Richmond.
Housing Choice Vouchers in Richmond, Virginia
On average, Section 8 Housing Choice vouchers pay Richmond landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Richmond.
The maximum amount a voucher would pay on behalf of a low-income tenant in Richmond, Virginia for a two-bedroom apartment is between $1,202 and $1,470.
2023 Richmond, 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 | |
|---|---|---|---|---|---|
| Richmond, Virginia Fair Market Rent | $1,157 | $1,183 | $1,336 | $1,727 | $2,100 |
| Richmond, Virginia Payment Standard Range | $1,041 to $1,273 | $1,065 to $1,301 | $1,202 to $1,470 | $1,554 to $1,900 | $1,890 to $2,310 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Richmond, VA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 166 |
|---|---|
| Total Low Income Apartments | 19,001 |
| Total Housing Units with Rental Assistance | 9,002 |
| Percentage of Housing Units Occupied By Renters | 57.72% |
| Average Renter Household Size | 2.30 |
| Average Household Size | 2.33 |
| Median Household Income | $40,758 ±$778 |
| Median Rent | $896 ±$12 |
| Percentage Of Renters Overburdened | 53.04% ± 1.98pp |
| Total Population | 213,735 |
Population and Household Demographics
Richmond is a city in Virginia with a population of 213,735. There are 87,224 households in the city with an average household size of 2.33 persons. 57.72% of households in Richmond are renters.
Income and Rent Overburden in Richmond
The median gross income for households in Richmond is $40,758 a year, or $3,397 a month. The median rent for the city is $896 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Richmond, a household making less than $2,987 a month would be considered overburdened when renting an apartment at or above the median rent. 53.04% of households who rent are overburdened in Richmond.
Area Median Income In Richmond
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 Richmond, HUD calculates the Area Median Income for a family of four as $101,000
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 Richmond
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 Richmond
| 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 Richmond AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$21,150 | $24,200 | $27,200 | $30,200 | $32,650 | $37,190 | $41,910 | $46,630 |
| 50% AMI Income Limits Renters earning up to 50% of the Richmond AMI may qualify for rental assistance programs that target Very Low Income households. |
$35,250 | $40,300 | $45,350 | $50,350 | $54,400 | $58,450 | $62,450 | $66,500 |
| 80% AMI Income Limits Renters earning up to 80% of the Richmond AMI may qualify for rental assistance programs that target Low Income households. |
$56,400 | $64,450 | $72,500 | $80,550 | $87,000 | $93,450 | $99,900 | $106,350 |
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