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There are 178 low-income apartments in Magna that offer reduced rents to eligible households.
Rental assistance programs support 98 low-income homes in Magna where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $327 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.
Public Housing Agencies Serving Magna, Utah
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 |
|---|---|
| Housing Connect | Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV); Mainstream Voucher; Rental Assistance Demonstration (RAD); Housing Opportunities for Persons with AIDS (HOPWA); Family Unification Program (FUP) |
Magna, Utah Affordable Housing Data
Income Based Apartments in Magna, Utah
Magna features 98 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 Magna, Utah
There are 178 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Magna.
Housing Choice Vouchers in Magna, Utah
On average, Section 8 Housing Choice vouchers pay Magna landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Magna.
The maximum amount a voucher would pay on behalf of a low-income tenant in Magna, Utah for a two-bedroom apartment is between $1,445 and $1,767.
2024 Magna, Utah 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 | |
|---|---|---|---|---|---|
| Magna, Utah Fair Market Rent | $1,121 | $1,338 | $1,606 | $2,168 | $2,452 |
| Magna, Utah Payment Standard Range | $1,009 to $1,233 | $1,204 to $1,472 | $1,445 to $1,767 | $1,951 to $2,385 | $2,207 to $2,697 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Magna, UT Affordable Housing Snapshot
| Total Affordable Apartment Properties | 10 |
|---|---|
| Total Low Income Apartments | 285 |
| Total Housing Units with Rental Assistance | 98 |
| Percentage of Housing Units Occupied By Renters | 22.8% |
| Average Renter Household Size | 3.68 |
| Average Household Size | 3.45 |
| Median Household Income | $55,786 ±$2,518 |
| Median Rent | $993 ±$64 |
| Percentage Of Renters Overburdened | 49.34% ± 8.74pp |
| Total Population | 27,451 |
Population and Household Demographics
Magna is a city in Salt Lake County, Utah with a population of 27,451. There are 7,931 households in the city with an average household size of 3.45 persons. 22.8% of households in Magna are renters.
Income and Rent Overburden in Magna
The median gross income for households in Magna is $55,786 a year, or $4,649 a month. The median rent for the city is $993 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Magna, a household making less than $3,310 a month would be considered overburdened when renting an apartment at or above the median rent. 49.34% of households who rent are overburdened in Magna.
Area Median Income In Magna
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 Magna, the AMI is calculated from all households within Salt Lake County.
In Magna, HUD calculates the Area Median Income for a family of four as $106,000
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 Magna
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 Magna
| 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 Magna AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$22,300 | $25,450 | $28,650 | $31,800 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Magna AMI may qualify for rental assistance programs that target Very Low Income households. |
$37,100 | $42,400 | $47,700 | $53,000 | $57,250 | $61,500 | $65,750 | $70,000 |
| 80% AMI Income Limits Renters earning up to 80% of the Magna AMI may qualify for rental assistance programs that target Low Income households. |
$59,400 | $67,850 | $76,350 | $84,800 | $91,600 | $98,400 | $105,200 | $111,950 |
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