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There are 0 low-income apartments in Mustang Ridge that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Mustang Ridge 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.
Mustang Ridge, Texas Affordable Housing Data
Income Based Apartments in Mustang Ridge, Texas
Mustang Ridge features 0 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 Mustang Ridge, Texas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mustang Ridge.
Housing Choice Vouchers in Mustang Ridge, Texas
On average, Section 8 Housing Choice vouchers pay Mustang Ridge landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Mustang Ridge.
The maximum amount a voucher would pay on behalf of a low-income tenant in Mustang Ridge, Texas for a two-bedroom apartment is between $1,732 and $2,116.
2024 Mustang Ridge, Texas 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 | |
|---|---|---|---|---|---|
| Mustang Ridge, Texas Fair Market Rent | $1,519 | $1,635 | $1,924 | $2,470 | $2,840 |
| Mustang Ridge, Texas Payment Standard Range | $1,367 to $1,671 | $1,472 to $1,799 | $1,732 to $2,116 | $2,223 to $2,717 | $2,556 to $3,124 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Mustang Ridge, TX Affordable Housing Snapshot
| Total Affordable Apartment Properties | 5 |
|---|---|
| Total Low Income Apartments | 5 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 40.11% |
| Average Renter Household Size | 3.06 |
| Average Household Size | 3.43 |
| Median Household Income | $51,917 ±$18,232 |
| Median Rent | $889 ±$288 |
| Percentage Of Renters Overburdened | 22.22% ± 24.47pp |
| Total Population | 1,232 |
Population and Household Demographics
Mustang Ridge is a city in Bastrop County, Texas with a population of 1,232. There are 359 households in the city with an average household size of 3.43 persons. 40.11% of households in Mustang Ridge are renters.
Income and Rent Overburden in Mustang Ridge
The median gross income for households in Mustang Ridge is $51,917 a year, or $4,326 a month. The median rent for the city is $889 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Mustang Ridge, a household making less than $2,963 a month would be considered overburdened when renting an apartment at or above the median rent. 22.22% of households who rent are overburdened in Mustang Ridge.
Area Median Income In Mustang Ridge
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 Mustang Ridge, the AMI is calculated from all households within Bastrop County.
In Mustang Ridge, HUD calculates the Area Median Income for a family of four as $122,300
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 Mustang Ridge
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 Mustang Ridge
| 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 Mustang Ridge AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$24,550 | $28,050 | $31,550 | $35,050 | $37,900 | $40,700 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Mustang Ridge AMI may qualify for rental assistance programs that target Very Low Income households. |
$40,900 | $46,750 | $52,600 | $58,400 | $63,100 | $67,750 | $72,450 | $77,100 |
| 80% AMI Income Limits Renters earning up to 80% of the Mustang Ridge AMI may qualify for rental assistance programs that target Low Income households. |
$65,450 | $74,800 | $84,150 | $93,450 | $100,950 | $108,450 | $115,900 | $123,400 |
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