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Affordable Housing In Waverly
Sussex County, Virginia

Waverly city limits extend into  and  Albemarle County.

3 Low Income Apartment Communities In Waverly

Waverly Village

600 Amherst Lane
Waverly, Virginia
Call For Rent
1-2 BR

Sussex Trace

7144 Leneave Ln
Waverly, Virginia

Waverly Elderly

900 Covington Ct
Waverly, Virginia
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Housing Authorities that serve Waverly

Housing Authority Programs
Virginia Housing Section 8 Housing Choice Voucher (HCV)
Albemarle County Office of Housing Section 8 Housing Choice Voucher (HCV); Section 8 Project-Based Rental Assistance (PBRA)
Sussex County Housing Office -
Central Virginia Resource Corporation - Prince George Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Waverly, Virginia

There are 3 low income housing apartment communities offering 194 affordable apartments for rent in Waverly, Virginia.

Income Based Apartments in Waverly, Virginia

Waverly features 50 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 Waverly, Virginia

There are 144 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Waverly.

Housing Choice Vouchers in Waverly, Virginia

On average, Section 8 Housing Choice vouchers pay Waverly landlords $700 per month towards rent. The average voucher holder contributes $200 towards rent in Waverly.

The maximum amount a voucher would pay on behalf of a low-income tenant in Waverly, Virginia for a two-bedroom apartment is between $1,047 and $1,279.

2021 Waverly, 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
Waverly, Virginia Fair Market Rent $993 $1,020 $1,163 $1,538 $1,840
Waverly, Virginia Payment Standard Range $894 to $1,092 $918 to $1,122 $1,047 to $1,279 $1,384 to $1,692 $1,656 to $2,024

Sourced from federal housing data and research.

Waverly, VA Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 194
Total Housing Units with Rental Assistance 50
Percentage of Housing Units Occupied By Renters 46.6%
Average Renter Household Size 2.33
Average Household Size 2.26
Median Household Income $34,934 ±$10,221
Median Rent $783 ±$184
Percentage Of Renters Overburdened 45.42% ± 11.54pp
Total Population 1,570

Population and Household Demographics

Waverly is a city in Sussex County, Virginia with a population of 1,570. There are 633 households in the city with an average household size of 2.26 persons. 46.6% of households in Waverly are renters.

Income and Rent Overburden in Waverly

The median gross income for households in Waverly is $34,934 a year, or $2,911 a month. The median rent for the city is $783 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Waverly, a household making less than $2,610 a month would be considered overburdened when renting an apartment at or above the median rent. 45.42% of households who rent are overburdened in Waverly.

Area Median Income In Waverly

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 Waverly, the AMI is calculated from all households within Sussex County.

In Waverly, HUD calculates the Area Median Income for a family of four as $90,000

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 Waverly

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 Waverly

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30% AMI Income Limits
Renters earning up to 30% of the Waverly AMI may qualify for rental assistance programs that target Extremely Low Income households.
$18,900 $21,600 $24,300 $27,000 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Waverly AMI may qualify for rental assistance programs that target Very Low Income households.
$31,500 $36,000 $40,500 $45,000 $48,600 $52,200 $55,800 $59,400
80% AMI Income Limits
Renters earning up to 80% of the Waverly AMI may qualify for rental assistance programs that target Low Income households.
$50,400 $57,600 $64,800 $72,000 $77,800 $83,550 $89,300 $95,050