Affordable Housing In Wood County
24 Low Income Apartment Communities In Wood County
Guide To Affordable Housing in Wood County, Wisconsin
There are 24 low income housing apartment communities offering 922 affordable apartments for rent in Wood County, Wisconsin.
Income Based Apartments in Wood County, Wisconsin
Wood County features 653 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 Wood County, Wisconsin
There are 269 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wood County.
Housing Choice Vouchers in Wood County, Wisconsin
On average, Section 8 Housing Choice vouchers pay Wood County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Wood County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wood County, Wisconsin for a two-bedroom apartment is between $680 and $832.
2020 Wood County, Wisconsin 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||$499||$574||$756||$952||$1,024|
|Payment Standard Range||$449 to $549||$517 to $631||$680 to $832||$857 to $1,047||$922 to $1,126|
Sourced from federal housing data and AffordableHousingOnline.com research.
Wood County, WI Affordable Housing Snapshot
|Total Affordable Apartment Properties||24|
|Total Low Income Apartments||922|
|Total Housing Units with Rental Assistance||653|
|Percentage of Housing Units Occupied By Renters||25.54%|
|Average Renter Household Size||1.99|
|Average Household Size||2.30|
|Median Household Income||$48,961 ±$1,413|
|Median Rent||$617 ±$17|
|Percentage Of Renters Overburdened||40.81% ± 3.47pp|
Population and Household Demographics
Wood County is a county in Wisconsin with a population of 74,012. There are 31,717 households in the county with an average household size of 2.30 persons. 25.54% of households in Wood County are renters.
Income and Rent Overburden in Wood County
The median gross income for households in Wood County is $48,961 a year, or $4,080 a month. The median rent for the county is $617 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wood County, a household making less than $2,057 a month would be considered overburdened when renting an apartment at or above the median rent. 40.81% of households who rent are overburdened in Wood County.
Area Median Income In Wood 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 Wood County, HUD calculates the Area Median Income for a family of four as $73,600
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 Wood 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 Wood County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$15,500||$17,700||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$25,800||$29,450||$33,150||$36,800||$39,750||$42,700||$45,650||$48,600|
|80% of Median||$41,250||$47,150||$53,050||$58,900||$63,650||$68,350||$73,050||$77,750|
Cities In Wood County
Select A City to View its Apartment Communities and Waiting Lists.
|Wisconsin Rapids||The HUD funded Public Housing Agency that serves Wisconsin Rapids is the Wisconsin Rapids Housing Authority.|