Canyon Village Apartments
- «
- 1
- »
There are 0 low-income apartments in Hot Springs County that offer reduced rents to eligible households.
Rental assistance programs support 48 low-income homes in Hot Springs County where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on July 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Hot Springs County, Wyoming Affordable Housing Data
Income Based Apartments in Hot Springs County, Wyoming
Hot Springs County features 48 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 Hot Springs County, Wyoming
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hot Springs County.
Housing Choice Vouchers in Hot Springs County, Wyoming
On average, Section 8 Housing Choice vouchers pay Hot Springs County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Hot Springs County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Hot Springs County, Wyoming for a two-bedroom apartment is between $815 and $996.
2024 Hot Springs County, Wyoming 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 | |
|---|---|---|---|---|---|
| Hot Springs County, Wyoming Fair Market Rent | $684 | $689 | $905 | $1,275 | $1,536 |
| Hot Springs County, Wyoming Payment Standard Range | $616 to $752 | $620 to $758 | $815 to $996 | $1,148 to $1,403 | $1,382 to $1,690 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Hot Springs County, WY Affordable Housing Snapshot
| Total Affordable Apartment Properties | 3 |
|---|---|
| Total Low Income Apartments | 49 |
| Total Housing Units with Rental Assistance | 48 |
| Percentage of Housing Units Occupied By Renters | 25.71% |
| Average Renter Household Size | 2.22 |
| Average Household Size | 2.15 |
| Median Household Income | $45,278 ±$4,773 |
| Median Rent | $669 ±$51 |
| Percentage Of Renters Overburdened | 25.13% ± 9.45pp |
| Total Population | 4,809 |
Population and Household Demographics
Hot Springs County is a county in Wyoming with a population of 4,809. There are 2,182 households in the county with an average household size of 2.15 persons. 25.71% of households in Hot Springs County are renters.
Income and Rent Overburden in Hot Springs County
The median gross income for households in Hot Springs County is $45,278 a year, or $3,773 a month. The median rent for the county is $669 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hot Springs County, a household making less than $2,230 a month would be considered overburdened when renting an apartment at or above the median rent. 25.13% of households who rent are overburdened in Hot Springs County.
Area Median Income In Hot Springs 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 Hot Springs County, HUD calculates the Area Median Income for a family of four as $84,400
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 Hot Springs 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 Hot Springs 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 Hot Springs County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$19,500 | $22,250 | $25,050 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Hot Springs County AMI may qualify for rental assistance programs that target Very Low Income households. |
$32,450 | $37,100 | $41,750 | $46,350 | $50,100 | $53,800 | $57,500 | $61,200 |
| 80% AMI Income Limits Renters earning up to 80% of the Hot Springs County AMI may qualify for rental assistance programs that target Low Income households. |
$51,950 | $59,350 | $66,750 | $74,150 | $80,100 | $86,050 | $91,950 | $97,900 |
© 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.