Affordable Housing In Richmond County
12 Low Income Apartment Communities In Richmond County
Guide To Affordable Housing in Richmond County, Virginia
There are 12 low income housing apartment communities offering 378 affordable apartments for rent in Richmond County, Virginia.
Income Based Apartments in Richmond County, Virginia
Richmond County features 362 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 County, Virginia
There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Richmond County.
Housing Choice Vouchers in Richmond County, Virginia
On average, Section 8 Housing Choice vouchers pay Richmond County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Richmond County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Richmond County, Virginia for a two-bedroom apartment is between $801 and $979.
2020 Richmond 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|
|Fair Market Rent||$600||$676||$890||$1,109||$1,337|
|Payment Standard Range||$540 to $660||$608 to $744||$801 to $979||$998 to $1,220||$1,203 to $1,471|
Sourced from federal housing data and AffordableHousingOnline.com research.
Richmond County, VA Affordable Housing Snapshot
|Total Affordable Apartment Properties||12|
|Total Low Income Apartments||378|
|Total Housing Units with Rental Assistance||362|
|Percentage of Housing Units Occupied By Renters||25.63%|
|Average Renter Household Size||2.48|
|Average Household Size||2.47|
|Median Household Income||$47,288 ±$6,065|
|Median Rent||$773 ±$49|
|Percentage Of Renters Overburdened||41.25% ± 10.37pp|
Population and Household Demographics
Richmond County is a county in Virginia with a population of 8,989. There are 2,875 households in the county with an average household size of 2.47 persons. 25.63% of households in Richmond County are renters.
Income and Rent Overburden in Richmond County
The median gross income for households in Richmond County is $47,288 a year, or $3,941 a month. The median rent for the county is $773 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Richmond County, a household making less than $2,577 a month would be considered overburdened when renting an apartment at or above the median rent. 41.25% of households who rent are overburdened in Richmond County.
Area Median Income In Richmond 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 Richmond County, HUD calculates the Area Median Income for a family of four as $56,500
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 Richmond 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 Richmond County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$12,760||$17,240||$21,720||$26,200||$30,680||$35,050||$37,450||$39,900|
|50% of Median||$21,150||$24,200||$27,200||$30,200||$32,650||$35,050||$37,450||$39,900|
|80% of Median||$33,850||$38,650||$43,500||$48,300||$52,200||$56,050||$59,900||$63,800|
Cities In Richmond County
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