923 Downey Branch Ln Unit New Hanover County
There are 2,143 low-income apartments in New Hanover County that offer reduced rents to eligible households. Low-income rents in New Hanover County, North Carolina can range from $775 to $899 depending on the number of bedrooms.
Rental assistance programs support 1,439 low-income homes in New Hanover County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $353 towards rent each month.
Affordable rent data for some communities last confirmed on July 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
New Hanover County, North Carolina Affordable Housing Data
Income Based Apartments in New Hanover County, North Carolina
New Hanover County features 1,439 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 New Hanover County, North Carolina
There are 2,143 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Hanover County.
Housing Choice Vouchers in New Hanover County, North Carolina
On average, Section 8 Housing Choice vouchers pay New Hanover County landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in New Hanover County.
The maximum amount a voucher would pay on behalf of a low-income tenant in New Hanover County, North Carolina for a two-bedroom apartment is between $1,364 and $1,667.
2024 New Hanover 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 | |
|---|---|---|---|---|---|
| New Hanover County, North Carolina Fair Market Rent | $1,027 | $1,349 | $1,515 | $2,002 | $2,561 |
| New Hanover County, North Carolina Payment Standard Range | $924 to $1,130 | $1,214 to $1,484 | $1,364 to $1,667 | $1,802 to $2,202 | $2,305 to $2,817 |
Sourced from federal housing data and AffordableHousingOnline.com research.
New Hanover County, NC Affordable Housing Snapshot
| Total Affordable Apartment Properties | 192 |
|---|---|
| Total Low Income Apartments | 3,718 |
| Total Housing Units with Rental Assistance | 1,439 |
| Percentage of Housing Units Occupied By Renters | 42.72% |
| Average Renter Household Size | 2.22 |
| Average Household Size | 2.33 |
| Median Household Income | $50,088 ±$1,305 |
| Median Rent | $907 ±$17 |
| Percentage Of Renters Overburdened | 50.25% ± 2.78pp |
| Total Population | 213,091 |
Population and Household Demographics
New Hanover County is a county in North Carolina with a population of 213,091. There are 88,403 households in the county with an average household size of 2.33 persons. 42.72% of households in New Hanover County are renters.
Income and Rent Overburden in New Hanover County
The median gross income for households in New Hanover County is $50,088 a year, or $4,174 a month. The median rent for the county is $907 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In New Hanover County, a household making less than $3,023 a month would be considered overburdened when renting an apartment at or above the median rent. 50.25% of households who rent are overburdened in New Hanover County.
Area Median Income In New Hanover 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 New Hanover County, HUD calculates the Area Median Income for a family of four as $103,000
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 New Hanover 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 New Hanover 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 New Hanover County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$18,950 | $21,650 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the New Hanover County AMI may qualify for rental assistance programs that target Very Low Income households. |
$31,600 | $36,100 | $40,600 | $45,100 | $48,750 | $52,350 | $55,950 | $59,550 |
| 80% AMI Income Limits Renters earning up to 80% of the New Hanover County AMI may qualify for rental assistance programs that target Low Income households. |
$50,550 | $57,750 | $64,950 | $72,150 | $77,950 | $83,700 | $89,500 | $95,250 |
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