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There are 126 low-income apartments in Cottonwood that offer reduced rents to eligible households.
Rental assistance programs support 413 low-income homes in Cottonwood where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $263 towards rent each month.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Cottonwood, Arizona
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 |
|---|---|
| Arizona Department of Housing | Section 8 Housing Choice Voucher (HCV); Public Housing |
Cottonwood, Arizona Affordable Housing Data
Income Based Apartments in Cottonwood, Arizona
Cottonwood features 413 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 Cottonwood, Arizona
There are 126 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cottonwood.
Housing Choice Vouchers in Cottonwood, Arizona
On average, Section 8 Housing Choice vouchers pay Cottonwood landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Cottonwood.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cottonwood, Arizona for a two-bedroom apartment is between $1,263 and $1,543.
2024 Cottonwood, Arizona 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 | |
|---|---|---|---|---|---|
| Cottonwood, Arizona Fair Market Rent | $951 | $1,140 | $1,403 | $1,943 | $2,273 |
| Cottonwood, Arizona Payment Standard Range | $856 to $1,046 | $1,026 to $1,254 | $1,263 to $1,543 | $1,749 to $2,137 | $2,046 to $2,500 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Cottonwood, AZ Affordable Housing Snapshot
| Total Affordable Apartment Properties | 13 |
|---|---|
| Total Low Income Apartments | 543 |
| Total Housing Units with Rental Assistance | 413 |
| Percentage of Housing Units Occupied By Renters | 42.83% |
| Average Renter Household Size | 2.21 |
| Average Household Size | 2.28 |
| Median Household Income | $36,440 ±$5,647 |
| Median Rent | $751 ±$68 |
| Percentage Of Renters Overburdened | 42.95% ± 9.2pp |
| Total Population | 11,493 |
Population and Household Demographics
Cottonwood is a city in Yavapai County, Arizona with a population of 11,493. There are 4,985 households in the city with an average household size of 2.28 persons. 42.83% of households in Cottonwood are renters.
Income and Rent Overburden in Cottonwood
The median gross income for households in Cottonwood is $36,440 a year, or $3,037 a month. The median rent for the city is $751 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cottonwood, a household making less than $2,503 a month would be considered overburdened when renting an apartment at or above the median rent. 42.95% of households who rent are overburdened in Cottonwood.
Area Median Income In Cottonwood
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 Cottonwood, the AMI is calculated from all households within Yavapai County.
In Cottonwood, HUD calculates the Area Median Income for a family of four as $76,700
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 Cottonwood
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 Cottonwood
| 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 Cottonwood AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$15,900 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $49,850 |
| 50% AMI Income Limits Renters earning up to 50% of the Cottonwood AMI may qualify for rental assistance programs that target Very Low Income households. |
$26,450 | $30,200 | $34,000 | $37,750 | $40,800 | $43,800 | $46,850 | $49,850 |
| 80% AMI Income Limits Renters earning up to 80% of the Cottonwood AMI may qualify for rental assistance programs that target Low Income households. |
$42,300 | $48,350 | $54,400 | $60,400 | $65,250 | $70,100 | $74,900 | $79,750 |
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