Milnwood Village
The Meadows
Waverly Village
Keysville Manor
Cricket Hill
Yorktown Square II Apartments
Yorktown Square I Apartments
Lafayette Elderly Apartments
Lafayette Square
Prospect Homes
Parkview Gardens
There are 2,803 low-income apartments in Albemarle County that offer reduced rents to eligible households. Low-income rents in Albemarle County, Virginia can range from $858 to $1,025 depending on the number of bedrooms.
Rental assistance programs support 4,460 low-income homes in Albemarle County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $396 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 Albemarle County, Virginia
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 |
|---|---|
| Albemarle County Office of Housing | Section 8 Housing Choice Voucher (HCV); Section 8 Project-Based Rental Assistance (PBRA) |
| Virginia Housing | Section 8 Housing Choice Voucher (HCV) |
Albemarle County, Virginia Affordable Housing Data
Income Based Apartments in Albemarle County, Virginia
Albemarle County features 4,460 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 Albemarle County, Virginia
There are 2,803 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Albemarle County.
Housing Choice Vouchers in Albemarle County, Virginia
On average, Section 8 Housing Choice vouchers pay Albemarle County landlords $800 per month towards rent. The average voucher holder contributes $400 towards rent in Albemarle County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Albemarle County, Virginia for a two-bedroom apartment is between $1,510 and $1,846.
2024 Albemarle County, Virginia 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 | |
|---|---|---|---|---|---|
| Albemarle County, Virginia Fair Market Rent | $1,392 | $1,415 | $1,678 | $2,114 | $2,608 |
| Albemarle County, Virginia Payment Standard Range | $1,253 to $1,531 | $1,274 to $1,557 | $1,510 to $1,846 | $1,903 to $2,325 | $2,347 to $2,869 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Albemarle County, VA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 180 |
|---|---|
| Total Low Income Apartments | 7,651 |
| Total Housing Units with Rental Assistance | 4,460 |
| Percentage of Housing Units Occupied By Renters | 34.93% |
| Average Renter Household Size | 2.18 |
| Average Household Size | 2.45 |
| Median Household Income | $68,449 ±$3,020 |
| Median Rent | $1,117 ±$23 |
| Percentage Of Renters Overburdened | 43.13% ± 3.13pp |
| Total Population | 103,108 |
Population and Household Demographics
Albemarle County is a county in Virginia with a population of 103,108. There are 38,853 households in the county with an average household size of 2.45 persons. 34.93% of households in Albemarle County are renters.
Income and Rent Overburden in Albemarle County
The median gross income for households in Albemarle County is $68,449 a year, or $5,704 a month. The median rent for the county is $1,117 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Albemarle County, a household making less than $3,723 a month would be considered overburdened when renting an apartment at or above the median rent. 43.13% of households who rent are overburdened in Albemarle County.
Area Median Income In Albemarle 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 Albemarle County, HUD calculates the Area Median Income for a family of four as $123,300
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 Albemarle 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 Albemarle 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 Albemarle County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$23,350 | $26,650 | $30,000 | $33,300 | $36,000 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Albemarle County AMI may qualify for rental assistance programs that target Very Low Income households. |
$38,850 | $44,400 | $49,950 | $55,500 | $59,950 | $64,400 | $68,850 | $73,300 |
| 80% AMI Income Limits Renters earning up to 80% of the Albemarle County AMI may qualify for rental assistance programs that target Low Income households. |
$62,200 | $71,050 | $79,950 | $88,800 | $95,950 | $103,050 | $110,150 | $117,250 |
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