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There are 0 low-income apartments in Old Hickory that offer reduced rents to eligible households.
Rental assistance programs support 205 low-income homes in Old Hickory where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Old Hickory, Tennessee Affordable Housing Data
Income Based Apartments in Old Hickory, Tennessee
Old Hickory features 205 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 Old Hickory, Tennessee
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Old Hickory.
Housing Choice Vouchers in Old Hickory, Tennessee
On average, Section 8 Housing Choice vouchers pay Old Hickory landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Old Hickory.
The maximum amount a voucher would pay on behalf of a low-income tenant in Old Hickory, Tennessee for a two-bedroom apartment is between $1,457 and $1,781.
2024 Old Hickory, Tennessee 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 | |
|---|---|---|---|---|---|
| Old Hickory, Tennessee Fair Market Rent | $1,404 | $1,442 | $1,619 | $2,035 | $2,482 |
| Old Hickory, Tennessee Payment Standard Range | $1,264 to $1,544 | $1,298 to $1,586 | $1,457 to $1,781 | $1,832 to $2,239 | $2,234 to $2,730 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Area Median Income In Old Hickory
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 Old Hickory, the AMI is calculated from all households within Davidson County.
In Old Hickory, HUD calculates the Area Median Income for a family of four as $102,500
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 Old Hickory
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 Old Hickory
| 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 Old Hickory AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$21,000 | $24,000 | $27,000 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Old Hickory AMI may qualify for rental assistance programs that target Very Low Income households. |
$34,950 | $39,950 | $44,950 | $49,900 | $53,900 | $57,900 | $61,900 | $65,900 |
| 80% AMI Income Limits Renters earning up to 80% of the Old Hickory AMI may qualify for rental assistance programs that target Low Income households. |
$55,900 | $63,900 | $71,900 | $79,850 | $86,250 | $92,650 | $99,050 | $105,450 |
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