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There are 1,808 low-income apartments in Buncombe County that offer reduced rents to eligible households. Low-income rents in Buncombe County, North Carolina can range from $376 to $644 depending on the number of bedrooms.
Rental assistance programs support 2,967 low-income homes in Buncombe County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $238 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.
Buncombe County, North Carolina Affordable Housing Data
Income Based Apartments in Buncombe County, North Carolina
Buncombe County features 2,967 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 Buncombe County, North Carolina
There are 1,808 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Buncombe County.
Housing Choice Vouchers in Buncombe County, North Carolina
On average, Section 8 Housing Choice vouchers pay Buncombe County landlords $600 per month towards rent. The average voucher holder contributes $200 towards rent in Buncombe County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Buncombe County, North Carolina for a two-bedroom apartment is between $1,512 and $1,848.
2024 Buncombe County, 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 | |
|---|---|---|---|---|---|
| Buncombe County, North Carolina Fair Market Rent | $1,428 | $1,496 | $1,680 | $2,160 | $2,851 |
| Buncombe County, North Carolina Payment Standard Range | $1,285 to $1,571 | $1,346 to $1,646 | $1,512 to $1,848 | $1,944 to $2,376 | $2,566 to $3,136 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Buncombe County, NC Affordable Housing Snapshot
| Total Affordable Apartment Properties | 120 |
|---|---|
| Total Low Income Apartments | 4,913 |
| Total Housing Units with Rental Assistance | 2,967 |
| Percentage of Housing Units Occupied By Renters | 36.55% |
| Average Renter Household Size | 2.18 |
| Average Household Size | 2.36 |
| Median Household Income | $45,167 ±$1,056 |
| Median Rent | $829 ±$16 |
| Percentage Of Renters Overburdened | 46.76% ± 2.73pp |
| Total Population | 247,336 |
Population and Household Demographics
Buncombe County is a county in North Carolina with a population of 247,336. There are 101,860 households in the county with an average household size of 2.36 persons. 36.55% of households in Buncombe County are renters.
Income and Rent Overburden in Buncombe County
The median gross income for households in Buncombe County is $45,167 a year, or $3,764 a month. The median rent for the county is $829 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Buncombe County, a household making less than $2,763 a month would be considered overburdened when renting an apartment at or above the median rent. 46.76% of households who rent are overburdened in Buncombe County.
Area Median Income In Buncombe 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 Buncombe County, HUD calculates the Area Median Income for a family of four as $90,300
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 Buncombe 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 Buncombe 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 Buncombe County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,850 | $20,400 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Buncombe County AMI may qualify for rental assistance programs that target Very Low Income households. |
$29,750 | $34,000 | $38,250 | $42,500 | $45,900 | $49,300 | $52,700 | $56,100 |
| 80% AMI Income Limits Renters earning up to 80% of the Buncombe County AMI may qualify for rental assistance programs that target Low Income households. |
$47,600 | $54,400 | $61,200 | $68,000 | $73,450 | $78,900 | $84,350 | $89,800 |
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