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There are 4 low-income apartments in Big Springs that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Big Springs where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Big Springs, Nebraska Affordable Housing Data
Income Based Apartments in Big Springs, Nebraska
Big Springs features 0 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 Big Springs, Nebraska
There are 4 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Big Springs.
Housing Choice Vouchers in Big Springs, Nebraska
On average, Section 8 Housing Choice vouchers pay Big Springs landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Big Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Big Springs, Nebraska for a two-bedroom apartment is between $785 and $959.
2024 Big Springs, Nebraska 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 | |
|---|---|---|---|---|---|
| Big Springs, Nebraska Fair Market Rent | $591 | $664 | $872 | $1,073 | $1,163 |
| Big Springs, Nebraska Payment Standard Range | $532 to $650 | $598 to $730 | $785 to $959 | $966 to $1,180 | $1,047 to $1,279 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Big Springs, NE Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 4 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 35.06% |
| Average Renter Household Size | 3.07 |
| Average Household Size | 2.49 |
| Median Household Income | $46,250 ±$8,756 |
| Median Rent | $594 ±$65 |
| Percentage Of Renters Overburdened | 33.33% ± 23.62pp |
| Total Population | 575 |
Population and Household Demographics
Big Springs is a city in Deuel County, Nebraska with a population of 575. There are 231 households in the city with an average household size of 2.49 persons. 35.06% of households in Big Springs are renters.
Income and Rent Overburden in Big Springs
The median gross income for households in Big Springs is $46,250 a year, or $3,854 a month. The median rent for the city is $594 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Big Springs, a household making less than $1,980 a month would be considered overburdened when renting an apartment at or above the median rent. 33.33% of households who rent are overburdened in Big Springs.
Area Median Income In Big Springs
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 Big Springs, the AMI is calculated from all households within Deuel County.
In Big Springs, HUD calculates the Area Median Income for a family of four as $73,700
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 Big Springs
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 Big Springs
| 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 Big Springs AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,500 | $20,000 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Big Springs AMI may qualify for rental assistance programs that target Very Low Income households. |
$29,150 | $33,300 | $37,450 | $41,600 | $44,950 | $48,300 | $51,600 | $54,950 |
| 80% AMI Income Limits Renters earning up to 80% of the Big Springs AMI may qualify for rental assistance programs that target Low Income households. |
$46,600 | $53,250 | $59,900 | $66,550 | $71,900 | $77,200 | $82,550 | $87,850 |
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