Apply to Sheridan Apartment Waiting Lists
- Powers Circle Apartments Low-Income Housing Tax Credit Project-Based is open.
- Libby Bortz Assisted Living Senior is open.
- Alyson Court Senior and Disabled is open.
- Amity Plaza Senior and Disabled is open.
- Bradley House Senior, Veteran, and Disabled Senior and Disabled is open.
- Overlook at Powers Park Senior Section 8 Project-Based Voucher is open.
- Orchard Place Apartments, 1 Bedroom Public Housing is open.
KINGS POINT
- «
- 1
- »
There are 76 low-income apartments in Sheridan that offer reduced rents to eligible households.
Rental assistance programs support 50 low-income homes in Sheridan where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $396 towards rent each month.
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 Sheridan, Colorado
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 |
|---|---|
| Innovative Housing Concepts | Section 8 Housing Choice Voucher (HCV); Public Housing |
| South Metro Housing Options | Section 8 Housing Choice Voucher (HCV); Public Housing |
| Housing Authority of the City of Aurora | Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV); Section 8 Project-Based Rental Assistance (PBRA); Family Unification Program (FUP) |
Sheridan, Colorado Affordable Housing Data
Income Based Apartments in Sheridan, Colorado
Sheridan features 50 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 Sheridan, Colorado
There are 76 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sheridan.
Housing Choice Vouchers in Sheridan, Colorado
On average, Section 8 Housing Choice vouchers pay Sheridan landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Sheridan.
The maximum amount a voucher would pay on behalf of a low-income tenant in Sheridan, Colorado for a two-bedroom apartment is between $1,981 and $2,421.
2024 Sheridan, 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 | |
|---|---|---|---|---|---|
| Sheridan, Colorado Fair Market Rent | $1,658 | $1,835 | $2,201 | $2,874 | $3,225 |
| Sheridan, Colorado Payment Standard Range | $1,492 to $1,824 | $1,652 to $2,019 | $1,981 to $2,421 | $2,587 to $3,161 | $2,903 to $3,548 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Sheridan, CO Affordable Housing Snapshot
| Total Affordable Apartment Properties | 2 |
|---|---|
| Total Low Income Apartments | 126 |
| Total Housing Units with Rental Assistance | 50 |
| Percentage of Housing Units Occupied By Renters | 48.09% |
| Average Renter Household Size | 2.82 |
| Average Household Size | 2.57 |
| Median Household Income | $36,815 ±$8,570 |
| Median Rent | $978 ±$64 |
| Percentage Of Renters Overburdened | 65.37% ± 12.62pp |
| Total Population | 5,912 |
Population and Household Demographics
Sheridan is a city in Arapahoe County, Colorado with a population of 5,912. There are 2,300 households in the city with an average household size of 2.57 persons. 48.09% of households in Sheridan are renters.
Income and Rent Overburden in Sheridan
The median gross income for households in Sheridan is $36,815 a year, or $3,068 a month. The median rent for the city is $978 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sheridan, a household making less than $3,260 a month would be considered overburdened when renting an apartment at or above the median rent. 65.37% of households who rent are overburdened in Sheridan.
Area Median Income In Sheridan
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 Sheridan, the AMI is calculated from all households within Arapahoe County.
In Sheridan, HUD calculates the Area Median Income for a family of four as $125,500
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 Sheridan
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 Sheridan
| 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 Sheridan AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$26,100 | $29,800 | $33,550 | $37,250 | $40,250 | $43,250 | $46,200 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Sheridan AMI may qualify for rental assistance programs that target Very Low Income households. |
$43,450 | $49,650 | $55,850 | $62,050 | $67,050 | $72,000 | $76,950 | $81,950 |
| 80% AMI Income Limits Renters earning up to 80% of the Sheridan AMI may qualify for rental assistance programs that target Low Income households. |
$66,300 | $75,750 | $85,200 | $94,650 | $102,250 | $109,800 | $117,400 | $124,950 |
© 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.