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There are 0 low-income apartments in Peyton that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Peyton where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Peyton, Colorado Affordable Housing Data
Income Based Apartments in Peyton, Colorado
Peyton features 0 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 Peyton, Colorado
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Peyton.
Housing Choice Vouchers in Peyton, Colorado
On average, Section 8 Housing Choice vouchers pay Peyton landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Peyton.
The maximum amount a voucher would pay on behalf of a low-income tenant in Peyton, Colorado for a two-bedroom apartment is between $1,561 and $1,907.
2024 Peyton, 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 | |
|---|---|---|---|---|---|
| Peyton, Colorado Fair Market Rent | $1,190 | $1,408 | $1,734 | $2,444 | $2,875 |
| Peyton, Colorado Payment Standard Range | $1,071 to $1,309 | $1,267 to $1,549 | $1,561 to $1,907 | $2,200 to $2,688 | $2,588 to $3,163 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Peyton, CO Affordable Housing Snapshot
| Total Affordable Apartment Properties | 12 |
|---|---|
| Total Low Income Apartments | 12 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | % |
| Average Renter Household Size | 0.00 |
| Average Household Size | 3.27 |
| Median Household Income | $51,643 ±$43,208 |
| Median Rent | $0 ±$0 |
| Total Population | 307 |
Population and Household Demographics
Peyton is a city in El Paso County, Colorado with a population of 307. There are 94 households in the city with an average household size of 3.27 persons. % of households in Peyton are renters.
Income and Rent Overburden in Peyton
The median gross income for households in Peyton is $51,643 a year, or $4,304 a month. The median rent for the city is $0 a month.
Area Median Income In Peyton
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 Peyton, the AMI is calculated from all households within El Paso County.
In Peyton, HUD calculates the Area Median Income for a family of four as $105,100
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 Peyton
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 Peyton
| 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 Peyton AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$20,500 | $23,400 | $26,350 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Peyton AMI may qualify for rental assistance programs that target Very Low Income households. |
$34,150 | $39,000 | $43,900 | $48,750 | $52,650 | $56,550 | $60,450 | $64,350 |
| 80% AMI Income Limits Renters earning up to 80% of the Peyton AMI may qualify for rental assistance programs that target Low Income households. |
$54,600 | $62,400 | $70,200 | $78,000 | $84,250 | $90,500 | $96,750 | $103,000 |
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