Cedar Street
Woods Edge
Windsor Court
Jersey Park Apartments
120 Bishops Reach Unit Furnished bedroom
- «
- 1
- »
There are 124 low-income apartments in Isle of Wight County that offer reduced rents to eligible households. Low-income rents in Isle of Wight County, Virginia can range from $865 to $990 depending on the number of bedrooms.
Rental assistance programs support 268 low-income homes in Isle of Wight County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $358 towards rent each month.
Affordable rent data for some communities last confirmed on July 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Isle of Wight 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 |
|---|---|
| Suffolk Redevelopment and Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH) |
Isle of Wight County, Virginia Affordable Housing Data
Income Based Apartments in Isle of Wight County, Virginia
Isle of Wight County features 268 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 Isle of Wight County, Virginia
There are 124 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Isle of Wight County.
Housing Choice Vouchers in Isle of Wight County, Virginia
On average, Section 8 Housing Choice vouchers pay Isle of Wight County landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Isle of Wight County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Isle of Wight County, Virginia for a two-bedroom apartment is between $1,344 and $1,642.
2024 Isle of Wight 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 | |
|---|---|---|---|---|---|
| Isle of Wight County, Virginia Fair Market Rent | $1,279 | $1,287 | $1,493 | $2,079 | $2,532 |
| Isle of Wight County, 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.
Isle of Wight County, VA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 12 |
|---|---|
| Total Low Income Apartments | 397 |
| Total Housing Units with Rental Assistance | 268 |
| Percentage of Housing Units Occupied By Renters | 21.93% |
| Average Renter Household Size | 2.48 |
| Average Household Size | 2.57 |
| Median Household Income | $65,741 ±$3,250 |
| Median Rent | $959 ±$111 |
| Percentage Of Renters Overburdened | 43.34% ± 6.71pp |
| Total Population | 35,740 |
Population and Household Demographics
Isle of Wight County is a county in Virginia with a population of 35,740. There are 13,769 households in the county with an average household size of 2.57 persons. 21.93% of households in Isle of Wight County are renters.
Income and Rent Overburden in Isle of Wight County
The median gross income for households in Isle of Wight County is $65,741 a year, or $5,478 a month. The median rent for the county is $959 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Isle of Wight County, a household making less than $3,197 a month would be considered overburdened when renting an apartment at or above the median rent. 43.34% of households who rent are overburdened in Isle of Wight County.
Area Median Income In Isle of Wight 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 Isle of Wight County, 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 Isle of Wight 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 Isle of Wight 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 Isle of Wight County 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 Isle of Wight County 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 Isle of Wight County 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 |
© 2002-2024 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.