Apply to Lake City Apartment Waiting Lists
- Eastcrest Apartments Public Housing is open soon.
- Lake City Housing Authority Public Housing is open.
Pine Acres
Cole Road Apartments
Palmetto Ridge Estates
Bailey Gardens Apartments
Lake City Apartments
Swann Lakes Apartments
Palmetto Frond Apartments
- «
- 1
- »
There are 187 low-income apartments in Lake City that offer reduced rents to eligible households.
Rental assistance programs support 532 low-income homes in Lake City where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $377 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.
Public Housing Agencies Serving Lake City, South 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 |
|---|---|
| Lake City Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
| Housing Authority of Florence | Section 8 Housing Choice Voucher (HCV); Public Housing |
Lake City, South Carolina Affordable Housing Data
Income Based Apartments in Lake City, South Carolina
Lake City features 532 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 Lake City, South Carolina
There are 187 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake City.
Housing Choice Vouchers in Lake City, South Carolina
On average, Section 8 Housing Choice vouchers pay Lake City landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Lake City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lake City, South Carolina for a two-bedroom apartment is between $911 and $1,113.
2024 Lake City, South 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 | |
|---|---|---|---|---|---|
| Lake City, South Carolina Fair Market Rent | $787 | $792 | $1,012 | $1,279 | $1,374 |
| Lake City, South Carolina Payment Standard Range | $708 to $866 | $713 to $871 | $911 to $1,113 | $1,151 to $1,407 | $1,237 to $1,511 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Lake City, SC Affordable Housing Snapshot
| Total Affordable Apartment Properties | 14 |
|---|---|
| Total Low Income Apartments | 719 |
| Total Housing Units with Rental Assistance | 532 |
| Percentage of Housing Units Occupied By Renters | 48.55% |
| Average Renter Household Size | 2.94 |
| Average Household Size | 2.79 |
| Median Household Income | $30,992 ±$2,539 |
| Median Rent | $606 ±$62 |
| Percentage Of Renters Overburdened | 47.53% ± 14.77pp |
| Total Population | 6,728 |
Population and Household Demographics
Lake City is a city in Florence County, South Carolina with a population of 6,728. There are 2,414 households in the city with an average household size of 2.79 persons. 48.55% of households in Lake City are renters.
Income and Rent Overburden in Lake City
The median gross income for households in Lake City is $30,992 a year, or $2,583 a month. The median rent for the city is $606 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lake City, a household making less than $2,020 a month would be considered overburdened when renting an apartment at or above the median rent. 47.53% of households who rent are overburdened in Lake City.
Area Median Income In Lake City
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 Lake City, the AMI is calculated from all households within Florence County.
In Lake City, HUD calculates the Area Median Income for a family of four as $78,500
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 Lake City
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 Lake City
| 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 Lake City AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,800 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $43,600 | $46,400 |
| 50% AMI Income Limits Renters earning up to 50% of the Lake City AMI may qualify for rental assistance programs that target Very Low Income households. |
$24,650 | $28,150 | $31,650 | $35,150 | $38,000 | $40,800 | $43,600 | $46,400 |
| 80% AMI Income Limits Renters earning up to 80% of the Lake City AMI may qualify for rental assistance programs that target Low Income households. |
$39,350 | $45,000 | $50,600 | $56,200 | $60,700 | $65,200 | $69,700 | $74,200 |
© 2002-2024 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.