Low Income Apartments For Rent in Richmond, VT

Rental assistance programs support 16 low-income homes in Richmond where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $-4 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 Richmond, Vermont

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
Vermont State Housing Authority	Section 8 Housing Choice Voucher (HCV)

Go to the Vermont Public Housing and Low-Income Apartments Waiting Lists page for openings near Richmond.

Richmond, Vermont Affordable Housing Data

Income Based Apartments in Richmond, Vermont

Richmond features 16 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 Richmond, Vermont

There are 32 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Richmond.

Housing Choice Vouchers in Richmond, Vermont

On average, Section 8 Housing Choice vouchers pay Richmond landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Richmond.

The maximum amount a voucher would pay on behalf of a low-income tenant in Richmond, Vermont for a two-bedroom apartment is between $1,698 and $2,076.

2024 Richmond, Vermont 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
Richmond, Vermont Fair Market Rent	$1,341	$1,441	$1,887	$2,390	$2,513
Richmond, Vermont Payment Standard Range	$1,207 to $1,475	$1,297 to $1,585	$1,698 to $2,076	$2,151 to $2,629	$2,262 to $2,764

Sourced from federal housing data and AffordableHousingOnline.com research.

Richmond, VT Affordable Housing Snapshot

Total Affordable Apartment Properties 3

Total Low Income Apartments 48

Total Housing Units with Rental Assistance 16

Percentage of Housing Units Occupied By Renters 60.87%

Average Renter Household Size 2.26

Average Household Size 2.28

Median Household Income $44,688 ±$22,804

Median Rent $962 ±$218

Percentage Of Renters Overburdened 39.29% ± 23.49pp

Total Population 630

Total Affordable Apartment Properties	3
Total Low Income Apartments	48
Total Housing Units with Rental Assistance	16
Percentage of Housing Units Occupied By Renters	60.87%
Average Renter Household Size	2.26
Average Household Size	2.28
Median Household Income	$44,688 ±$22,804
Median Rent	$962 ±$218
Percentage Of Renters Overburdened	39.29% ± 23.49pp
Total Population	630

Population and Household Demographics

Richmond is a city in Chittenden County, Vermont with a population of 630. There are 276 households in the city with an average household size of 2.28 persons. 60.87% of households in Richmond are renters.

Income and Rent Overburden in Richmond

The median gross income for households in Richmond is $44,688 a year, or $3,724 a month. The median rent for the city is $962 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Richmond, a household making less than $3,207 a month would be considered overburdened when renting an apartment at or above the median rent. 39.29% of households who rent are overburdened in Richmond.

Area Median Income In Richmond

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 Richmond, the AMI is calculated from all households within Chittenden County.

In Richmond, HUD calculates the Area Median Income for a family of four as $115,700

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 Richmond

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 Richmond

	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 Richmond AMI may qualify for rental assistance programs that target Extremely Low Income households.	$23,900	$27,300	$30,700	$34,100	$36,850	$40,280	$45,420	$50,560
50% AMI Income Limits Renters earning up to 50% of the Richmond AMI may qualify for rental assistance programs that target Very Low Income households.	$39,800	$45,450	$51,150	$56,800	$61,350	$65,900	$70,450	$75,000
80% AMI Income Limits Renters earning up to 80% of the Richmond AMI may qualify for rental assistance programs that target Low Income households.	$63,600	$72,700	$81,800	$90,850	$98,150	$105,400	$112,700	$119,950