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There are 3,457 low-income apartments in Chesapeake that offer reduced rents to eligible households. Low-income rents in Chesapeake, Virginia can range from $855 to $1,063 depending on the number of bedrooms.
Rental assistance programs support 1,371 low-income homes in Chesapeake where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $444 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 Chesapeake, 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 |
|---|---|
| Chesapeake Redevelopment and Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency; Section 8 Project-Based Voucher (PBV) |
Chesapeake, Virginia Affordable Housing Data
Income Based Apartments in Chesapeake, Virginia
Chesapeake features 1,371 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 Chesapeake, Virginia
There are 3,457 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Chesapeake.
Housing Choice Vouchers in Chesapeake, Virginia
On average, Section 8 Housing Choice vouchers pay Chesapeake landlords $800 per month towards rent. The average voucher holder contributes $400 towards rent in Chesapeake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Chesapeake, Virginia for a two-bedroom apartment is between $1,344 and $1,642.
2024 Chesapeake, 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 | |
|---|---|---|---|---|---|
| Chesapeake, Virginia Fair Market Rent | $1,279 | $1,287 | $1,493 | $2,079 | $2,532 |
| Chesapeake, Virginia Payment Standard Range | $1,151 to $1,407 | $1,158 to $1,416 | $1,344 to $1,642 | $1,871 to $2,287 | $2,279 to $2,785 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Chesapeake, VA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 80 |
|---|---|
| Total Low Income Apartments | 4,926 |
| Total Housing Units with Rental Assistance | 1,371 |
| Percentage of Housing Units Occupied By Renters | 29.62% |
| Average Renter Household Size | 2.63 |
| Average Household Size | 2.75 |
| Median Household Income | $68,620 ±$1,695 |
| Median Rent | $1,176 ±$20 |
| Percentage Of Renters Overburdened | 50.36% ± 2.93pp |
| Total Population | 230,601 |
Population and Household Demographics
Chesapeake is a city in Virginia with a population of 230,601. There are 81,518 households in the city with an average household size of 2.75 persons. 29.62% of households in Chesapeake are renters.
Income and Rent Overburden in Chesapeake
The median gross income for households in Chesapeake is $68,620 a year, or $5,718 a month. The median rent for the city is $1,176 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Chesapeake, a household making less than $3,920 a month would be considered overburdened when renting an apartment at or above the median rent. 50.36% of households who rent are overburdened in Chesapeake.
Area Median Income In Chesapeake
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 Chesapeake, HUD calculates the Area Median Income for a family of four as $100,500
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 Chesapeake
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 Chesapeake
| 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 Chesapeake AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$20,800 | $23,800 | $26,750 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Chesapeake AMI may qualify for rental assistance programs that target Very Low Income households. |
$34,650 | $39,600 | $44,550 | $49,500 | $53,500 | $57,450 | $61,400 | $65,350 |
| 80% AMI Income Limits Renters earning up to 80% of the Chesapeake AMI may qualify for rental assistance programs that target Low Income households. |
$55,450 | $63,400 | $71,300 | $79,200 | $85,550 | $91,900 | $98,250 | $104,550 |
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