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There are 0 low-income apartments in Buena Vista that offer reduced rents to eligible households.
Rental assistance programs support 106 low-income homes in Buena Vista where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $299 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 Buena Vista, 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 |
|---|---|
| Virginia Housing | Section 8 Housing Choice Voucher (HCV) |
| Rockbridge Area Rental Assistance Office | Section 8 Housing Choice Voucher (HCV) |
Buena Vista, Virginia Affordable Housing Data
Income Based Apartments in Buena Vista, Virginia
Buena Vista features 106 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 Buena Vista, Virginia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Buena Vista.
Housing Choice Vouchers in Buena Vista, Virginia
On average, Section 8 Housing Choice vouchers pay Buena Vista landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Buena Vista.
The maximum amount a voucher would pay on behalf of a low-income tenant in Buena Vista, Virginia for a two-bedroom apartment is between $851 and $1,040.
2024 Buena Vista, 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 | |
|---|---|---|---|---|---|
| Buena Vista, Virginia Fair Market Rent | $772 | $842 | $945 | $1,332 | $1,466 |
| Buena Vista, Virginia Payment Standard Range | $695 to $849 | $758 to $926 | $851 to $1,040 | $1,199 to $1,465 | $1,319 to $1,613 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Buena Vista, VA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 3 |
|---|---|
| Total Low Income Apartments | 106 |
| Total Housing Units with Rental Assistance | 106 |
| Percentage of Housing Units Occupied By Renters | 41.36% |
| Average Renter Household Size | 2.34 |
| Average Household Size | 2.26 |
| Median Household Income | $29,097 ±$4,461 |
| Median Rent | $691 ±$69 |
| Percentage Of Renters Overburdened | 65.99% ± 17.07pp |
| Total Population | 6,666 |
Population and Household Demographics
Buena Vista is a city in Virginia with a population of 6,666. There are 2,737 households in the city with an average household size of 2.26 persons. 41.36% of households in Buena Vista are renters.
Income and Rent Overburden in Buena Vista
The median gross income for households in Buena Vista is $29,097 a year, or $2,425 a month. The median rent for the city is $691 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Buena Vista, a household making less than $2,303 a month would be considered overburdened when renting an apartment at or above the median rent. 65.99% of households who rent are overburdened in Buena Vista.
Area Median Income In Buena Vista
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 Buena Vista, HUD calculates the Area Median Income for a family of four as $77,000
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 Buena Vista
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 Buena Vista
| 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 Buena Vista AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$15,200 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $44,900 | $47,800 |
| 50% AMI Income Limits Renters earning up to 50% of the Buena Vista AMI may qualify for rental assistance programs that target Very Low Income households. |
$25,350 | $29,000 | $32,600 | $36,200 | $39,100 | $42,000 | $44,900 | $47,800 |
| 80% AMI Income Limits Renters earning up to 80% of the Buena Vista AMI may qualify for rental assistance programs that target Low Income households. |
$40,550 | $46,350 | $52,150 | $57,900 | $62,550 | $67,200 | $71,800 | $76,450 |
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