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There are 151 low-income apartments in Tipton County that offer reduced rents to eligible households. Low-income rents in Tipton County, Indiana can range from $508 to $679 depending on the number of bedrooms.
Rental assistance programs support 48 low-income homes in Tipton County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $362 towards rent each month.
Affordable rent data for some communities last confirmed on September 22nd, 2021. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Tipton 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 |
|---|---|
| Community Action of Greater Indianapolis | Section 8 Housing Choice Voucher (HCV) |
Tipton County, Indiana Affordable Housing Data
Income Based Apartments in Tipton County, Indiana
Tipton County features 48 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 Tipton County, Indiana
There are 151 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Tipton County.
Housing Choice Vouchers in Tipton County, Indiana
On average, Section 8 Housing Choice vouchers pay Tipton County landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Tipton County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Tipton County, Indiana for a two-bedroom apartment is between $833 and $1,019.
2024 Tipton 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 | |
|---|---|---|---|---|---|
| Tipton County, Indiana Fair Market Rent | $644 | $705 | $926 | $1,120 | $1,288 |
| Tipton County, Indiana Payment Standard Range | $580 to $708 | $635 to $776 | $833 to $1,019 | $1,008 to $1,232 | $1,159 to $1,417 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Tipton County, IN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 8 |
|---|---|
| Total Low Income Apartments | 199 |
| Total Housing Units with Rental Assistance | 48 |
| Percentage of Housing Units Occupied By Renters | 22.18% |
| Average Renter Household Size | 2.33 |
| Average Household Size | 2.40 |
| Median Household Income | $51,613 ±$3,342 |
| Median Rent | $696 ±$63 |
| Percentage Of Renters Overburdened | 35.61% ± 9.05pp |
| Total Population | 15,573 |
Population and Household Demographics
Tipton County is a county in Indiana with a population of 15,573. There are 6,394 households in the county with an average household size of 2.40 persons. 22.18% of households in Tipton County are renters.
Income and Rent Overburden in Tipton County
The median gross income for households in Tipton County is $51,613 a year, or $4,301 a month. The median rent for the county is $696 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Tipton County, a household making less than $2,320 a month would be considered overburdened when renting an apartment at or above the median rent. 35.61% of households who rent are overburdened in Tipton County.
Area Median Income In Tipton 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 Tipton County, HUD calculates the Area Median Income for a family of four as $88,600
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 Tipton 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 Tipton 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 Tipton County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$18,250 | $20,850 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Tipton County AMI may qualify for rental assistance programs that target Very Low Income households. |
$30,450 | $34,800 | $39,150 | $43,450 | $46,950 | $50,450 | $53,900 | $57,400 |
| 80% AMI Income Limits Renters earning up to 80% of the Tipton County AMI may qualify for rental assistance programs that target Low Income households. |
$48,650 | $55,600 | $62,550 | $69,500 | $75,100 | $80,650 | $86,200 | $91,750 |
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