Low Income Apartments For Rent in Apex, NC

Rental assistance programs support 82 low-income homes in Apex where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $345 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 Apex, North Carolina

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
Housing Authority of the County of Wake	Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Public Housing Homeownership; Family Self-Sufficiency
Raleigh Housing Authority	Section 8 Housing Choice Voucher (HCV); Public Housing

Go to the North Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Apex.

Apex, North Carolina Affordable Housing Data

Income Based Apartments in Apex, North Carolina

Apex features 82 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 Apex, North Carolina

There are 236 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Apex.

Housing Choice Vouchers in Apex, North Carolina

On average, Section 8 Housing Choice vouchers pay Apex landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Apex.

The maximum amount a voucher would pay on behalf of a low-income tenant in Apex, North Carolina for a two-bedroom apartment is between $1,481 and $1,811.

2024 Apex, North Carolina 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
Apex, North Carolina Fair Market Rent	$1,427	$1,466	$1,646	$2,035	$2,711
Apex, North Carolina Payment Standard Range	$1,284 to $1,570	$1,319 to $1,613	$1,481 to $1,811	$1,832 to $2,239	$2,440 to $2,982

Sourced from federal housing data and AffordableHousingOnline.com research.

Apex, NC Affordable Housing Snapshot

Total Affordable Apartment Properties 8

Total Low Income Apartments 320

Total Housing Units with Rental Assistance 82

Percentage of Housing Units Occupied By Renters 29.3%

Average Renter Household Size 2.65

Average Household Size 2.92

Median Household Income $90,654 ±$4,817

Median Rent $1,121 ±$50

Percentage Of Renters Overburdened 33.59% ± 7.01pp

Total Population 42,220

Total Affordable Apartment Properties	8
Total Low Income Apartments	320
Total Housing Units with Rental Assistance	82
Percentage of Housing Units Occupied By Renters	29.3%
Average Renter Household Size	2.65
Average Household Size	2.92
Median Household Income	$90,654 ±$4,817
Median Rent	$1,121 ±$50
Percentage Of Renters Overburdened	33.59% ± 7.01pp
Total Population	42,220

Population and Household Demographics

Apex is a city in Wake County, North Carolina with a population of 42,220. There are 14,397 households in the city with an average household size of 2.92 persons. 29.3% of households in Apex are renters.

Income and Rent Overburden in Apex

The median gross income for households in Apex is $90,654 a year, or $7,555 a month. The median rent for the city is $1,121 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Apex, a household making less than $3,737 a month would be considered overburdened when renting an apartment at or above the median rent. 33.59% of households who rent are overburdened in Apex.

Area Median Income In Apex

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 Apex, the AMI is calculated from all households within Wake County.

In Apex, HUD calculates the Area Median Income for a family of four as $117,000

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 Apex

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 Apex

	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 Apex AMI may qualify for rental assistance programs that target Extremely Low Income households.	$23,800	$27,200	$30,600	$34,000	$36,750	$40,280	$45,420	$50,560
50% AMI Income Limits Renters earning up to 50% of the Apex AMI may qualify for rental assistance programs that target Very Low Income households.	$39,700	$45,350	$51,000	$56,650	$61,200	$65,750	$70,250	$74,800
80% AMI Income Limits Renters earning up to 80% of the Apex AMI may qualify for rental assistance programs that target Low Income households.	$63,500	$72,550	$81,600	$90,650	$97,950	$105,200	$112,450	$119,700