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There are 0 low-income apartments in Wood County that offer reduced rents to eligible households.
Rental assistance programs support 140 low-income homes in Wood County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $262 towards rent each month.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Wood County, Texas Affordable Housing Data
Income Based Apartments in Wood County, Texas
Wood County features 140 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 Wood County, Texas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wood County.
Housing Choice Vouchers in Wood County, Texas
On average, Section 8 Housing Choice vouchers pay Wood County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Wood County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wood County, Texas for a two-bedroom apartment is between $983 and $1,201.
2024 Wood County, 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 | |
|---|---|---|---|---|---|
| Wood County, Texas Fair Market Rent | $740 | $831 | $1,092 | $1,320 | $1,623 |
| Wood County, Texas Payment Standard Range | $666 to $814 | $748 to $914 | $983 to $1,201 | $1,188 to $1,452 | $1,461 to $1,785 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Wood County, TX Affordable Housing Snapshot
| Total Affordable Apartment Properties | 7 |
|---|---|
| Total Low Income Apartments | 142 |
| Total Housing Units with Rental Assistance | 140 |
| Percentage of Housing Units Occupied By Renters | 20.01% |
| Average Renter Household Size | 2.65 |
| Average Household Size | 2.57 |
| Median Household Income | $45,686 ±$2,702 |
| Median Rent | $738 ±$27 |
| Percentage Of Renters Overburdened | 43.36% ± 6.18pp |
| Total Population | 42,712 |
Population and Household Demographics
Wood County is a county in Texas with a population of 42,712. There are 16,064 households in the county with an average household size of 2.57 persons. 20.01% of households in Wood County are renters.
Income and Rent Overburden in Wood County
The median gross income for households in Wood County is $45,686 a year, or $3,807 a month. The median rent for the county is $738 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wood County, a household making less than $2,460 a month would be considered overburdened when renting an apartment at or above the median rent. 43.36% of households who rent are overburdened in Wood County.
Area Median Income In Wood 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 Wood County, HUD calculates the Area Median Income for a family of four as $80,400
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 Wood 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 Wood 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 Wood County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$15,300 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $45,150 | $48,050 |
| 50% AMI Income Limits Renters earning up to 50% of the Wood County AMI may qualify for rental assistance programs that target Very Low Income households. |
$25,500 | $29,150 | $32,800 | $36,400 | $39,350 | $42,250 | $45,150 | $48,050 |
| 80% AMI Income Limits Renters earning up to 80% of the Wood County AMI may qualify for rental assistance programs that target Low Income households. |
$40,800 | $46,600 | $52,450 | $58,250 | $62,950 | $67,600 | $72,250 | $76,900 |
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