Pinnacle at Hammock Crossings
There are 528 low-income apartments in Lynn Haven that offer reduced rents to eligible households. Low-income rents in Lynn Haven, Florida can range from $618 to $874 depending on the number of bedrooms.
Rental assistance programs support 72 low-income homes in Lynn Haven where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $367 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.
Lynn Haven, Florida Affordable Housing Data
Income Based Apartments in Lynn Haven, Florida
Lynn Haven features 72 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 Lynn Haven, Florida
There are 528 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lynn Haven.
Housing Choice Vouchers in Lynn Haven, Florida
On average, Section 8 Housing Choice vouchers pay Lynn Haven landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Lynn Haven.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lynn Haven, Florida for a two-bedroom apartment is between $1,371 and $1,675.
2024 Lynn Haven, Florida 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 | |
|---|---|---|---|---|---|
| Lynn Haven, Florida Fair Market Rent | $1,269 | $1,297 | $1,523 | $2,065 | $2,585 |
| Lynn Haven, Florida Payment Standard Range | $1,142 to $1,396 | $1,167 to $1,427 | $1,371 to $1,675 | $1,859 to $2,272 | $2,327 to $2,844 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Lynn Haven, FL Affordable Housing Snapshot
| Total Affordable Apartment Properties | 25 |
|---|---|
| Total Low Income Apartments | 620 |
| Total Housing Units with Rental Assistance | 72 |
| Percentage of Housing Units Occupied By Renters | 35.26% |
| Average Renter Household Size | 2.56 |
| Average Household Size | 2.67 |
| Median Household Income | $58,174 ±$8,185 |
| Median Rent | $939 ±$74 |
| Percentage Of Renters Overburdened | 47.37% ± 7.83pp |
| Total Population | 19,355 |
Population and Household Demographics
Lynn Haven is a city in Bay County, Florida with a population of 19,355. There are 7,238 households in the city with an average household size of 2.67 persons. 35.26% of households in Lynn Haven are renters.
Income and Rent Overburden in Lynn Haven
The median gross income for households in Lynn Haven is $58,174 a year, or $4,848 a month. The median rent for the city is $939 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lynn Haven, a household making less than $3,130 a month would be considered overburdened when renting an apartment at or above the median rent. 47.37% of households who rent are overburdened in Lynn Haven.
Area Median Income In Lynn Haven
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 Lynn Haven, the AMI is calculated from all households within Bay County.
In Lynn Haven, HUD calculates the Area Median Income for a family of four as $78,700
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 Lynn Haven
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 Lynn Haven
| 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 Lynn Haven AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$16,550 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Lynn Haven AMI may qualify for rental assistance programs that target Very Low Income households. |
$27,550 | $31,500 | $35,450 | $39,350 | $42,500 | $45,650 | $48,800 | $51,950 |
| 80% AMI Income Limits Renters earning up to 80% of the Lynn Haven AMI may qualify for rental assistance programs that target Low Income households. |
$44,100 | $50,400 | $56,700 | $62,950 | $68,000 | $73,050 | $78,100 | $83,100 |
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