Beaver City Plaza, Phase I
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There are 16 low-income apartments in Furnas County that offer reduced rents to eligible households.
Rental assistance programs support 32 low-income homes in Furnas County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $-4 towards rent each month.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Furnas County, Nebraska Affordable Housing Data
Income Based Apartments in Furnas County, Nebraska
Furnas County features 32 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 Furnas County, Nebraska
There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Furnas County.
Housing Choice Vouchers in Furnas County, Nebraska
On average, Section 8 Housing Choice vouchers pay Furnas County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Furnas County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Furnas County, Nebraska for a two-bedroom apartment is between $785 and $959.
2024 Furnas County, 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 | |
|---|---|---|---|---|---|
| Furnas County, Nebraska Fair Market Rent | $591 | $708 | $872 | $1,095 | $1,227 |
| Furnas County, Nebraska Payment Standard Range | $532 to $650 | $637 to $779 | $785 to $959 | $986 to $1,205 | $1,104 to $1,350 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Furnas County, NE Affordable Housing Snapshot
| Total Affordable Apartment Properties | 4 |
|---|---|
| Total Low Income Apartments | 48 |
| Total Housing Units with Rental Assistance | 32 |
| Percentage of Housing Units Occupied By Renters | 29.53% |
| Average Renter Household Size | 1.90 |
| Average Household Size | 2.11 |
| Median Household Income | $39,934 ±$2,282 |
| Median Rent | $527 ±$26 |
| Percentage Of Renters Overburdened | 25.74% ± 5.68pp |
| Total Population | 4,887 |
Population and Household Demographics
Furnas County is a county in Nebraska with a population of 4,887. There are 2,276 households in the county with an average household size of 2.11 persons. 29.53% of households in Furnas County are renters.
Income and Rent Overburden in Furnas County
The median gross income for households in Furnas County is $39,934 a year, or $3,328 a month. The median rent for the county is $527 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Furnas County, a household making less than $1,757 a month would be considered overburdened when renting an apartment at or above the median rent. 25.74% of households who rent are overburdened in Furnas County.
Area Median Income In Furnas 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 Furnas County, HUD calculates the Area Median Income for a family of four as $78,200
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 Furnas 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 Furnas 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 Furnas County 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 Furnas County 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 Furnas County 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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