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Affordable Housing In Ridgeway
Henry County, Virginia

Housing Authorities that serve Ridgeway

Housing Authority Programs
Danville Redevelopment and Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Mainstream Voucher

Guide To Affordable Housing in Ridgeway, Virginia

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Ridgeway, Virginia.

Income Based Apartments in Ridgeway, Virginia

Ridgeway 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 Ridgeway, Virginia

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ridgeway.

Housing Choice Vouchers in Ridgeway, Virginia

On average, Section 8 Housing Choice vouchers pay Ridgeway landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ridgeway.

The maximum amount a voucher would pay on behalf of a low-income tenant in Ridgeway, Virginia for a two-bedroom apartment is between $631 and $771.

2021 Ridgeway, 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
Ridgeway, Virginia Fair Market Rent $528 $532 $701 $915 $1,000
Ridgeway, 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 research.

Ridgeway, 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 27.95%
Average Renter Household Size 2.03
Average Household Size 2.45
Median Household Income $32,159 ±$8,496
Median Rent $532 ±$49
Percentage Of Renters Overburdened 25.77% ± 16.99pp
Total Population 850

Population and Household Demographics

Ridgeway is a city in Henry County, Virginia with a population of 850. There are 347 households in the city with an average household size of 2.45 persons. 27.95% of households in Ridgeway are renters.

Income and Rent Overburden in Ridgeway

The median gross income for households in Ridgeway is $32,159 a year, or $2,680 a month. The median rent for the city is $532 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ridgeway, a household making less than $1,773 a month would be considered overburdened when renting an apartment at or above the median rent. 25.77% of households who rent are overburdened in Ridgeway.

Area Median Income In Ridgeway

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Ridgeway, the AMI is calculated from all households within Henry County.

In Ridgeway, 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 Ridgeway

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 Ridgeway

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 Ridgeway 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 Ridgeway 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 Ridgeway 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