Apply to Lake Stevens Apartment Waiting Lists
Glenwood Apartments
Lake Stevens Manor
Cedarwood IV
Cedarwood I Apartments
Craigmont
Lake Village East
There are 82 low-income apartments in Lake Stevens that offer reduced rents to eligible households. Low-income rents in Lake Stevens, Washington can range from $604 to $621 depending on the number of bedrooms.
Rental assistance programs support 222 low-income homes in Lake Stevens where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $435 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 Lake Stevens, Washington
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 |
|---|---|
| Housing Authority of Snohomish County | Section 8 Housing Choice Voucher (HCV); Section 8 Project-Based Voucher (PBV) |
| Everett Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing; Section 8 Project-Based Voucher (PBV) |
Lake Stevens, Washington Affordable Housing Data
Income Based Apartments in Lake Stevens, Washington
Lake Stevens features 222 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 Lake Stevens, Washington
There are 82 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Stevens.
Housing Choice Vouchers in Lake Stevens, Washington
On average, Section 8 Housing Choice vouchers pay Lake Stevens landlords $1,100 per month towards rent. The average voucher holder contributes $400 towards rent in Lake Stevens.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Stevens, Washington for a two-bedroom apartment is between $2,381 and $2,910.
2024 Lake Stevens, Washington 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 | |
|---|---|---|---|---|---|
| Lake Stevens, Washington Fair Market Rent | $2,211 | $2,269 | $2,645 | $3,510 | $4,080 |
| Lake Stevens, Washington Payment Standard Range | $1,990 to $2,432 | $2,042 to $2,496 | $2,381 to $2,910 | $3,159 to $3,861 | $3,672 to $4,488 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Lake Stevens, WA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 26 |
|---|---|
| Total Low Income Apartments | 321 |
| Total Housing Units with Rental Assistance | 222 |
| Percentage of Housing Units Occupied By Renters | 28.68% |
| Average Renter Household Size | 3.10 |
| Average Household Size | 2.91 |
| Median Household Income | $74,159 ±$4,569 |
| Median Rent | $1,237 ±$70 |
| Percentage Of Renters Overburdened | 47.46% ± 8.04pp |
| Total Population | 29,774 |
Population and Household Demographics
Lake Stevens is a city in Snohomish County, Washington with a population of 29,774. There are 10,213 households in the city with an average household size of 2.91 persons. 28.68% of households in Lake Stevens are renters.
Income and Rent Overburden in Lake Stevens
The median gross income for households in Lake Stevens is $74,159 a year, or $6,180 a month. The median rent for the city is $1,237 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lake Stevens, a household making less than $4,123 a month would be considered overburdened when renting an apartment at or above the median rent. 47.46% of households who rent are overburdened in Lake Stevens.
Area Median Income In Lake Stevens
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 Lake Stevens, the AMI is calculated from all households within Snohomish County.
In Lake Stevens, HUD calculates the Area Median Income for a family of four as $146,500
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 Lake Stevens
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 Lake Stevens
| 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 Lake Stevens AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$28,800 | $32,900 | $37,000 | $41,100 | $44,400 | $47,700 | $51,000 | $54,300 |
| 50% AMI Income Limits Renters earning up to 50% of the Lake Stevens AMI may qualify for rental assistance programs that target Very Low Income households. |
$47,950 | $54,800 | $61,650 | $68,500 | $74,000 | $79,500 | $84,950 | $90,450 |
| 80% AMI Income Limits Renters earning up to 80% of the Lake Stevens AMI may qualify for rental assistance programs that target Low Income households. |
$70,650 | $80,750 | $90,850 | $100,900 | $109,000 | $117,050 | $125,150 | $133,200 |
© 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.