; Low Income Apartments For Rent in Silt, CO
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Silt Senior Housing

701 HOME AVE
Silt, Colorado
Subsidized
PBV
Call For Rent
Studio-1 BR
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There are 0 low-income apartments in Silt that offer reduced rents to eligible households.

Rental assistance programs support 19 low-income homes in Silt where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $315 towards rent each month.

Affordable rent data for some communities last confirmed on June 15th, 2021. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Silt, 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
Garfield County Housing Authority Section 8 Housing Choice Voucher (HCV)
Go to the Colorado Public Housing and Low-Income Apartments Waiting Lists page for openings near Silt.

Silt, Colorado Affordable Housing Data

Income Based Apartments in Silt, Colorado

Silt features 19 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 Silt, Colorado

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Silt.

Housing Choice Vouchers in Silt, Colorado

On average, Section 8 Housing Choice vouchers pay Silt landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Silt.

The maximum amount a voucher would pay on behalf of a low-income tenant in Silt, Colorado for a two-bedroom apartment is between $1,383 and $1,691.

2024 Silt, 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
Silt, Colorado Fair Market Rent $1,162 $1,170 $1,537 $2,166 $2,438
Silt, Colorado Payment Standard Range $1,046 to $1,278 $1,053 to $1,287 $1,383 to $1,691 $1,949 to $2,383 $2,194 to $2,682

Sourced from federal housing data and AffordableHousingOnline.com research.

Silt, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 19
Total Housing Units with Rental Assistance 19
Percentage of Housing Units Occupied By Renters 33.44%
Average Renter Household Size 2.78
Average Household Size 3.09
Median Household Income $56,268 ±$5,972
Median Rent $1,146 ±$126
Percentage Of Renters Overburdened 50.93% ± 14.71pp
Total Population 2,976

Population and Household Demographics

Silt is a city in Garfield County, Colorado with a population of 2,976. There are 963 households in the city with an average household size of 3.09 persons. 33.44% of households in Silt are renters.

Income and Rent Overburden in Silt

The median gross income for households in Silt is $56,268 a year, or $4,689 a month. The median rent for the city is $1,146 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Silt, a household making less than $3,820 a month would be considered overburdened when renting an apartment at or above the median rent. 50.93% of households who rent are overburdened in Silt.

Area Median Income In Silt

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 Silt, the AMI is calculated from all households within Garfield County.

In Silt, HUD calculates the Area Median Income for a family of four as $99,200

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 Silt

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 Silt

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30% AMI Income Limits
Renters earning up to 30% of the Silt AMI may qualify for rental assistance programs that target Extremely Low Income households.		 $20,850 $23,800 $26,800 $30,000 $35,140 $40,280 $45,420 $50,560
50% AMI Income Limits
Renters earning up to 50% of the Silt AMI may qualify for rental assistance programs that target Very Low Income households.		 $34,750 $39,700 $44,650 $49,600 $53,600 $57,550 $61,550 $65,500
80% AMI Income Limits
Renters earning up to 80% of the Silt AMI may qualify for rental assistance programs that target Low Income households.		 $55,550 $63,500 $71,450 $79,350 $85,700 $92,050 $98,400 $104,750