- «
- 1
- »
There are 0 low-income apartments in Cheyenne Wells that offer reduced rents to eligible households.
Rental assistance programs support 25 low-income homes in Cheyenne Wells where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on October 30th, 2019. Subdsidized rents typically change once a year based on federal guidance.
Cheyenne Wells, Colorado Affordable Housing Data
Income Based Apartments in Cheyenne Wells, Colorado
Cheyenne Wells features 25 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 Cheyenne Wells, Colorado
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cheyenne Wells.
Housing Choice Vouchers in Cheyenne Wells, Colorado
On average, Section 8 Housing Choice vouchers pay Cheyenne Wells landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Cheyenne Wells.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cheyenne Wells, Colorado for a two-bedroom apartment is between $834 and $1,020.
2024 Cheyenne Wells, Colorado 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 | |
|---|---|---|---|---|---|
| Cheyenne Wells, Colorado Fair Market Rent | $701 | $706 | $927 | $1,298 | $1,493 |
| Cheyenne Wells, Colorado Payment Standard Range | $631 to $771 | $635 to $777 | $834 to $1,020 | $1,168 to $1,428 | $1,344 to $1,642 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Cheyenne Wells, CO Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 25 |
| Total Housing Units with Rental Assistance | 25 |
| Percentage of Housing Units Occupied By Renters | 27.61% |
| Average Renter Household Size | 2.04 |
| Average Household Size | 2.37 |
| Median Household Income | $43,750 ±$8,615 |
| Median Rent | $591 ±$81 |
| Percentage Of Renters Overburdened | 34.95% ± 15.22pp |
| Total Population | 909 |
Population and Household Demographics
Cheyenne Wells is a city in Cheyenne County, Colorado with a population of 909. There are 373 households in the city with an average household size of 2.37 persons. 27.61% of households in Cheyenne Wells are renters.
Income and Rent Overburden in Cheyenne Wells
The median gross income for households in Cheyenne Wells is $43,750 a year, or $3,646 a month. The median rent for the city is $591 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cheyenne Wells, a household making less than $1,970 a month would be considered overburdened when renting an apartment at or above the median rent. 34.95% of households who rent are overburdened in Cheyenne Wells.
Area Median Income In Cheyenne Wells
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 Cheyenne Wells, the AMI is calculated from all households within Cheyenne County.
In Cheyenne Wells, HUD calculates the Area Median Income for a family of four as $96,000
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 Cheyenne Wells
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 Cheyenne Wells
| 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 Cheyenne Wells AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$19,000 | $21,700 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Cheyenne Wells AMI may qualify for rental assistance programs that target Very Low Income households. |
$31,650 | $36,200 | $40,700 | $45,200 | $48,850 | $52,450 | $56,050 | $59,700 |
| 80% AMI Income Limits Renters earning up to 80% of the Cheyenne Wells AMI may qualify for rental assistance programs that target Low Income households. |
$50,650 | $57,850 | $65,100 | $72,300 | $78,100 | $83,900 | $89,700 | $95,450 |
© 2002-2024 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.