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There are 205 low-income apartments in Spring City that offer reduced rents to eligible households.
Rental assistance programs support 31 low-income homes in Spring City 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 June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Spring City, Tennessee
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 |
|---|---|
| Dayton Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
Spring City, Tennessee Affordable Housing Data
Income Based Apartments in Spring City, Tennessee
Spring City features 31 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 Spring City, Tennessee
There are 205 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Spring City.
Housing Choice Vouchers in Spring City, Tennessee
On average, Section 8 Housing Choice vouchers pay Spring City landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Spring City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Spring City, Tennessee for a two-bedroom apartment is between $775 and $947.
2024 Spring City, 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 | |
|---|---|---|---|---|---|
| Spring City, Tennessee Fair Market Rent | $651 | $655 | $861 | $1,142 | $1,147 |
| Spring City, Tennessee Payment Standard Range | $586 to $716 | $590 to $721 | $775 to $947 | $1,028 to $1,256 | $1,032 to $1,262 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Spring City, TN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 5 |
|---|---|
| Total Low Income Apartments | 236 |
| Total Housing Units with Rental Assistance | 31 |
| Percentage of Housing Units Occupied By Renters | 41.28% |
| Average Renter Household Size | 2.54 |
| Average Household Size | 2.17 |
| Median Household Income | $25,685 ±$4,737 |
| Median Rent | $571 ±$159 |
| Percentage Of Renters Overburdened | 50.12% ± 15.96pp |
| Total Population | 2,248 |
Population and Household Demographics
Spring City is a city in Rhea County, Tennessee with a population of 2,248. There are 981 households in the city with an average household size of 2.17 persons. 41.28% of households in Spring City are renters.
Income and Rent Overburden in Spring City
The median gross income for households in Spring City is $25,685 a year, or $2,140 a month. The median rent for the city is $571 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Spring City, a household making less than $1,903 a month would be considered overburdened when renting an apartment at or above the median rent. 50.12% of households who rent are overburdened in Spring City.
Area Median Income In Spring 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 Spring City, the AMI is calculated from all households within Rhea County.
In Spring City, HUD calculates the Area Median Income for a family of four as $62,700
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 Spring 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 Spring 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 Spring City AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,580 | $19,720 | $24,860 | $30,000 | $35,140 | $38,750 | $41,450 | $44,100 |
| 50% AMI Income Limits Renters earning up to 50% of the Spring City AMI may qualify for rental assistance programs that target Very Low Income households. |
$23,400 | $26,750 | $30,100 | $33,400 | $36,100 | $38,750 | $41,450 | $44,100 |
| 80% AMI Income Limits Renters earning up to 80% of the Spring City AMI may qualify for rental assistance programs that target Low Income households. |
$37,400 | $42,750 | $48,100 | $53,400 | $57,700 | $61,950 | $66,250 | $70,500 |
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