There are 574 low-income apartments in Caddo Parish that offer reduced rents to eligible households. Low-income rents in Caddo Parish, Louisiana can range from $487 to $592 depending on the number of bedrooms.
Rental assistance programs support 342 low-income homes in Caddo Parish where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $293 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 Caddo Parish, Louisiana
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 |
|---|---|
| Caddo Parish Commission | Section 8 Housing Choice Voucher (HCV) |
Caddo Parish, Louisiana Affordable Housing Data
Income Based Apartments in Caddo Parish, Louisiana
Caddo Parish features 342 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 Caddo Parish, Louisiana
There are 574 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Caddo Parish.
Housing Choice Vouchers in Caddo Parish, Louisiana
On average, Section 8 Housing Choice vouchers pay Caddo Parish landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Caddo Parish.
The maximum amount a voucher would pay on behalf of a low-income tenant in Caddo Parish, Louisiana for a two-bedroom apartment is between $966 and $1,180.
2024 Caddo Parish, Louisiana 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 | |
|---|---|---|---|---|---|
| Caddo Parish, Louisiana Fair Market Rent | $779 | $927 | $1,073 | $1,358 | $1,486 |
| Caddo Parish, Louisiana Payment Standard Range | $701 to $857 | $834 to $1,020 | $966 to $1,180 | $1,222 to $1,494 | $1,337 to $1,635 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Caddo Parish, LA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 65 |
|---|---|
| Total Low Income Apartments | 1,172 |
| Total Housing Units with Rental Assistance | 342 |
| Percentage of Housing Units Occupied By Renters | 38.71% |
| Average Renter Household Size | 2.52 |
| Average Household Size | 2.55 |
| Median Household Income | $41,234 ±$1,042 |
| Median Rent | $742 ±$13 |
| Percentage Of Renters Overburdened | 46.79% ± 2.1pp |
| Total Population | 254,742 |
Population and Household Demographics
Caddo Parish is a county in Louisiana with a population of 254,742. There are 97,991 households in the county with an average household size of 2.55 persons. 38.71% of households in Caddo Parish are renters.
Income and Rent Overburden in Caddo Parish
The median gross income for households in Caddo Parish is $41,234 a year, or $3,436 a month. The median rent for the county is $742 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Caddo Parish, a household making less than $2,473 a month would be considered overburdened when renting an apartment at or above the median rent. 46.79% of households who rent are overburdened in Caddo Parish.
Area Median Income In Caddo Parish
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 Caddo Parish, HUD calculates the Area Median Income for a family of four as $69,500
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 Caddo Parish
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 Caddo Parish
| 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 Caddo Parish AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,600 | $19,720 | $24,860 | $30,000 | $35,140 | $40,200 | $43,000 | $45,750 |
| 50% AMI Income Limits Renters earning up to 50% of the Caddo Parish AMI may qualify for rental assistance programs that target Very Low Income households. |
$24,300 | $27,750 | $31,200 | $34,650 | $37,450 | $40,200 | $43,000 | $45,750 |
| 80% AMI Income Limits Renters earning up to 80% of the Caddo Parish AMI may qualify for rental assistance programs that target Low Income households. |
$38,850 | $44,400 | $49,950 | $55,450 | $59,900 | $64,350 | $68,800 | $73,200 |
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