Low Income Apartments In Castle Rock
Cowlitz County, Washington

Low Income Apartments In Castle Rock

Riverview

161 Leaming Ave NW
Castle Rock, WA
Subsidized
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There are 1 low income housing apartment complexes which contain 70 affordable apartments for rent in Castle Rock, Washington. Many of these rental apartments are income based housing with about 70 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 0 Project-Based Section 8 subsidized apartments in Castle Rock. There are 0 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Guide To Affordable Housing in Castle Rock, Washington

Castle Rock, WA Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 70
Total Rent Assisted Apartments 70
Percentage of Housing Units Occupied By Renters 39.61%
Average Renter Household Size 2.17
Total Population 2,334
Housing Units 1,025
Average Household Size 2.28
Median Household Income $41,585 ±$6,870
Median Rent $728 ±$259
Percentage Of Renters Overburdened 51.48% ± 19.13pp

Population and Household Demographics

Castle Rock is a City in Cowlitz County, Washington with a population of 2,334. There are 1,025 households in the city with an average household size of 2.28 persons. 39.61% of households in Castle Rock are renters.

Income and Rent Overburden in Castle Rock

The median gross income for households in Castle Rock is $41,585 a year, or $3,465 a month. The median rent for the city is $728 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Castle Rock, a household making less than $2,427 a month would be considered overburdened when renting an apartment at or above the median rent. 51.48% of households who rent are overburdened in Castle Rock.1

Area Median Income In Castle Rock

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 Castle Rock, the AMI is calculated from all households within Cowlitz County.

In Castle Rock, HUD calculates the Area Median Income for a family of four as $63,600

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 Castle Rock

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 Castle Rock HUD Rental Assistance in Castle Rock

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,650 $16,460 $20,780 $25,100 $29,420 $33,740 $38,060 $42,380
50% of Median $22,750 $26,000 $29,250 $32,500 $35,100 $37,700 $40,300 $42,900
80% of Median $36,400 $41,600 $46,800 $52,000 $56,200 $60,350 $64,500 $68,650

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Castle Rock

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $27,300 $31,200 $35,100 $39,000 $42,120 $45,240 $48,360 $51,480

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Castle Rock is $35,100 a year, or $2,925 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,925 by 30% to get a maximum rent of $878 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $569 $609 $731 $845 $943 $1,040
60% $683 $731 $878 $1,014 $1,131 $1,248
Fair Market Rents in Castle Rock

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$601 $715 $923 $1,335 $1,621