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There are 40 low-income apartments in Red Bay that offer reduced rents to eligible households.
Rental assistance programs support 244 low-income homes in Red Bay where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Red Bay, Alabama
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
| Housing Authority | Programs |
|---|---|
| Red Bay Housing Authority | Public Housing |
Red Bay, Alabama Affordable Housing Data
Income Based Apartments in Red Bay, Alabama
Red Bay features 244 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 Red Bay, Alabama
There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Red Bay.
Housing Choice Vouchers in Red Bay, Alabama
On average, Section 8 Housing Choice vouchers pay Red Bay landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Red Bay.
The maximum amount a voucher would pay on behalf of a low-income tenant in Red Bay, Alabama for a two-bedroom apartment is between $771 and $943.
2024 Red Bay, Alabama 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 | |
|---|---|---|---|---|---|
| Red Bay, Alabama Fair Market Rent | $642 | $763 | $857 | $1,042 | $1,321 |
| Red Bay, Alabama Payment Standard Range | $578 to $706 | $687 to $839 | $771 to $943 | $938 to $1,146 | $1,189 to $1,453 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Red Bay, AL Affordable Housing Snapshot
| Total Affordable Apartment Properties | 4 |
|---|---|
| Total Low Income Apartments | 284 |
| Total Housing Units with Rental Assistance | 244 |
| Percentage of Housing Units Occupied By Renters | 42.59% |
| Average Renter Household Size | 2.43 |
| Average Household Size | 2.36 |
| Median Household Income | $29,076 ±$4,446 |
| Median Rent | $437 ±$57 |
| Percentage Of Renters Overburdened | 29.15% ± 15.7pp |
| Total Population | 3,143 |
Population and Household Demographics
Red Bay is a city in Franklin County, Alabama with a population of 3,143. There are 1,329 households in the city with an average household size of 2.36 persons. 42.59% of households in Red Bay are renters.
Income and Rent Overburden in Red Bay
The median gross income for households in Red Bay is $29,076 a year, or $2,423 a month. The median rent for the city is $437 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Red Bay, a household making less than $1,457 a month would be considered overburdened when renting an apartment at or above the median rent. 29.15% of households who rent are overburdened in Red Bay.
Area Median Income In Red Bay
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 Red Bay, the AMI is calculated from all households within Franklin County.
In Red Bay, HUD calculates the Area Median Income for a family of four as $61,200
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 Red Bay
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 Red Bay
| 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 Red Bay AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,580 | $19,720 | $24,860 | $30,000 | $35,140 | $37,850 | $40,450 | $43,050 |
| 50% AMI Income Limits Renters earning up to 50% of the Red Bay AMI may qualify for rental assistance programs that target Very Low Income households. |
$22,850 | $26,100 | $29,350 | $32,600 | $35,250 | $37,850 | $40,450 | $43,050 |
| 80% AMI Income Limits Renters earning up to 80% of the Red Bay AMI may qualify for rental assistance programs that target Low Income households. |
$36,550 | $41,750 | $46,950 | $52,150 | $56,350 | $60,500 | $64,700 | $68,850 |
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