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. 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. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811. Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. In Forsyth County, HUD calculates the Area Median Income for a family of four as $85,800 The AMI is calculated and published each year by HUD. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. Each household's income is compared to the incomes of all other households in the area. Area Median Income In Forsyth CountyĪffordable housing program eligibility is always determined by one's income. In Forsyth County, a household making less than $2,440 a month would be considered overburdened when renting an apartment at or above the median rent.Ĥ8.8% of households who rent are overburdened in Forsyth County. Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. The median gross income for households in Forsyth County is $45,471 a year, or $3,789 a month. Income and Rent Overburden in Forsyth County 37.91% of households in Forsyth County are renters. There are 143,207 households in the county with an average household size of 2.46 persons. ± 1.64pp Total Population 361,684 Population and Household Demographicsįorsyth County is a county in North Carolina with a population of 361,684. ±$8 Percentage Of Renters Overburdened 48.8% Total Affordable Apartment Properties 106 Total Low Income Apartments 7,534 Total Housing Units with Rental Assistance 4,222 Percentage of Housing Units Occupied By Renters 37.91% Average Renter Household Size 2.38 Average Household Size 2.46 Median Household Income $45,471 Sourced from federal housing data and research.įorsyth County, NC Affordable Housing Snapshot 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. 2023 Forsyth County, North Carolina Fair Market Rents and Housing Choice Voucher Payment Standardsįair Market Rents can be used to better understand the average housing costs of an area. The maximum amount a voucher would pay on behalf of a low-income tenant in Forsyth County, North Carolina for a two-bedroom apartment is between $872 and $1,066. The average voucher holder contributes $300 towards rent in Forsyth County. On average, Section 8 Housing Choice vouchers pay Forsyth County landlords $600 per month towards rent.
Housing Choice Vouchers in Forsyth County, North Carolina There are 3,164 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Forsyth County. Low Rent Apartments in Forsyth County, North Carolina
Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities. Forsyth County, North Carolina Affordable Housing Data Income Based Apartments in Forsyth County, North Carolinaįorsyth County features 4,222 income based apartments.
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