Friars Point Village, Lp
Yates Street Apt C/O D P Prop Mgrs
Friars Point Hsg De Lapaula's Villa C/O United Mgmt
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There are 24 low-income apartments in Friars Point that offer reduced rents to eligible households.
Rental assistance programs support 76 low-income homes in Friars Point where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $284 towards rent each month.
Affordable rent data for some communities last confirmed on July 28th, 2021. Subdsidized rents typically change once a year based on federal guidance.
Friars Point, Mississippi Affordable Housing Data
Income Based Apartments in Friars Point, Mississippi
Friars Point features 76 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 Friars Point, Mississippi
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Friars Point.
Housing Choice Vouchers in Friars Point, Mississippi
On average, Section 8 Housing Choice vouchers pay Friars Point landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Friars Point.
The maximum amount a voucher would pay on behalf of a low-income tenant in Friars Point, Mississippi for a two-bedroom apartment is between $813 and $993.
2024 Friars Point, Mississippi 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 | |
|---|---|---|---|---|---|
| Friars Point, Mississippi Fair Market Rent | $752 | $804 | $903 | $1,255 | $1,371 |
| Friars Point, Mississippi Payment Standard Range | $677 to $827 | $724 to $884 | $813 to $993 | $1,130 to $1,381 | $1,234 to $1,508 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Friars Point, MS Affordable Housing Snapshot
| Total Affordable Apartment Properties | 4 |
|---|---|
| Total Low Income Apartments | 100 |
| Total Housing Units with Rental Assistance | 76 |
| Percentage of Housing Units Occupied By Renters | 49.23% |
| Average Renter Household Size | 2.42 |
| Average Household Size | 2.24 |
| Median Household Income | $18,889 ±$3,313 |
| Median Rent | $453 ±$149 |
| Percentage Of Renters Overburdened | 39.27% ± 14.2pp |
| Total Population | 870 |
Population and Household Demographics
Friars Point is a city in Coahoma County, Mississippi with a population of 870. There are 388 households in the city with an average household size of 2.24 persons. 49.23% of households in Friars Point are renters.
Income and Rent Overburden in Friars Point
The median gross income for households in Friars Point is $18,889 a year, or $1,574 a month. The median rent for the city is $453 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Friars Point, a household making less than $1,510 a month would be considered overburdened when renting an apartment at or above the median rent. 39.27% of households who rent are overburdened in Friars Point.
Area Median Income In Friars Point
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 Friars Point, the AMI is calculated from all households within Coahoma County.
In Friars Point, HUD calculates the Area Median Income for a family of four as $45,800
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 Friars Point
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 Friars Point
| 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 Friars Point AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,580 | $19,720 | $24,860 | $30,000 | $33,600 | $36,100 | $38,600 | $41,100 |
| 50% AMI Income Limits Renters earning up to 50% of the Friars Point AMI may qualify for rental assistance programs that target Very Low Income households. |
$21,800 | $24,900 | $28,000 | $31,100 | $33,600 | $36,100 | $38,600 | $41,100 |
| 80% AMI Income Limits Renters earning up to 80% of the Friars Point AMI may qualify for rental assistance programs that target Low Income households. |
$34,850 | $39,800 | $44,800 | $49,750 | $53,750 | $57,750 | $61,700 | $65,700 |
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