There are 1,349 low-income apartments in Tippecanoe County that offer reduced rents to eligible households.
Rental assistance programs support 1,289 low-income homes in Tippecanoe County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $288 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.
Public Housing Agencies Serving Tippecanoe County, Indiana
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 |
|---|---|
| Area IV Agency on Aging and Community Action Programs Inc | Section 8 Housing Choice Voucher (HCV) |
Tippecanoe County, Indiana Affordable Housing Data
Income Based Apartments in Tippecanoe County, Indiana
Tippecanoe County features 1,289 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 Tippecanoe County, Indiana
There are 1,349 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Tippecanoe County.
Housing Choice Vouchers in Tippecanoe County, Indiana
On average, Section 8 Housing Choice vouchers pay Tippecanoe County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Tippecanoe County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Tippecanoe County, Indiana for a two-bedroom apartment is between $962 and $1,176.
2024 Tippecanoe County, Indiana 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 | |
|---|---|---|---|---|---|
| Tippecanoe County, Indiana Fair Market Rent | $778 | $908 | $1,069 | $1,293 | $1,604 |
| Tippecanoe County, Indiana Payment Standard Range | $700 to $856 | $817 to $999 | $962 to $1,176 | $1,164 to $1,422 | $1,444 to $1,764 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Tippecanoe County, IN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 75 |
|---|---|
| Total Low Income Apartments | 2,698 |
| Total Housing Units with Rental Assistance | 1,289 |
| Percentage of Housing Units Occupied By Renters | 47.21% |
| Average Renter Household Size | 2.28 |
| Average Household Size | 2.46 |
| Median Household Income | $45,932 ±$1,223 |
| Median Rent | $795 ±$12 |
| Percentage Of Renters Overburdened | 53.24% ± 2.67pp |
| Total Population | 180,952 |
Population and Household Demographics
Tippecanoe County is a county in Indiana with a population of 180,952. There are 67,756 households in the county with an average household size of 2.46 persons. 47.21% of households in Tippecanoe County are renters.
Income and Rent Overburden in Tippecanoe County
The median gross income for households in Tippecanoe County is $45,932 a year, or $3,828 a month. The median rent for the county is $795 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Tippecanoe County, a household making less than $2,650 a month would be considered overburdened when renting an apartment at or above the median rent. 53.24% of households who rent are overburdened in Tippecanoe County.
Area Median Income In Tippecanoe County
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.
In Tippecanoe County, HUD calculates the Area Median Income for a family of four as $87,200
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 Tippecanoe County
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 Tippecanoe County
| 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 Tippecanoe County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,600 | $20,100 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Tippecanoe County AMI may qualify for rental assistance programs that target Very Low Income households. |
$29,300 | $33,500 | $37,700 | $41,850 | $45,200 | $48,550 | $51,900 | $55,250 |
| 80% AMI Income Limits Renters earning up to 80% of the Tippecanoe County AMI may qualify for rental assistance programs that target Low Income households. |
$46,900 | $53,600 | $60,300 | $66,950 | $72,350 | $77,700 | $83,050 | $88,400 |
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