Affordable Housing In Savage Town
Guide To Affordable Housing in Savage Town, Virginia
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Savage Town, Virginia.
Income Based Apartments in Savage Town, Virginia
Savage Town 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 Savage Town, Virginia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Savage Town.
Housing Choice Vouchers in Savage Town, Virginia
On average, Section 8 Housing Choice vouchers pay Savage Town landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Savage Town.
The maximum amount a voucher would pay on behalf of a low-income tenant in Savage Town, Virginia for a two-bedroom apartment is between $648 and $792.
2022 Savage Town, 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|
|Savage Town, Virginia Fair Market Rent||$492||$632||$720||$1,001||$1,140|
|Savage Town, Virginia Payment Standard Range||$443 to $541||$569 to $695||$648 to $792||$901 to $1,101||$1,026 to $1,254|
Sourced from federal housing data and AffordableHousingOnline.com research.
Savage Town, 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||100%|
|Average Renter Household Size||2.81|
|Average Household Size||2.81|
|Median Household Income||$0 ±$0|
|Median Rent||$0 ±$0|
|Percentage Of Renters Overburdened||0% ± 75pp|
Population and Household Demographics
Savage Town is a city in Accomack County, Virginia with a population of 90. There are 32 households in the city with an average household size of 2.81 persons. 100% of households in Savage Town are renters.
Income and Rent Overburden in Savage Town
The median gross income for households in Savage Town is $0 a year, or $0 a month. The median rent for the city is $0 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Savage Town, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 0% of households who rent are overburdened in Savage Town.
Area Median Income In Savage Town
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 Savage Town, the AMI is calculated from all households within Accomack County.
In Savage Town, 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 Savage Town
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 Savage Town
|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 Savage Town AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Savage Town AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Savage Town AMI may qualify for rental assistance programs that target Low Income households.