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There are 92 low-income apartments in Park County that offer reduced rents to eligible households. Low-income rents in Park County, Wyoming can range from $588 to $825 depending on the number of bedrooms.
Rental assistance programs support 250 low-income homes in Park County 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 July 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Park County, Wyoming Affordable Housing Data
Income Based Apartments in Park County, Wyoming
Park County features 250 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 Park County, Wyoming
There are 92 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Park County.
Housing Choice Vouchers in Park County, Wyoming
On average, Section 8 Housing Choice vouchers pay Park County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Park County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Park County, Wyoming for a two-bedroom apartment is between $914 and $1,117.
2024 Park 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 | |
|---|---|---|---|---|---|
| Park County, Wyoming Fair Market Rent | $767 | $772 | $1,015 | $1,405 | $1,722 |
| Park County, Wyoming Payment Standard Range | $690 to $844 | $695 to $849 | $914 to $1,117 | $1,265 to $1,546 | $1,550 to $1,894 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Park County, WY Affordable Housing Snapshot
| Total Affordable Apartment Properties | 15 |
|---|---|
| Total Low Income Apartments | 344 |
| Total Housing Units with Rental Assistance | 250 |
| Percentage of Housing Units Occupied By Renters | 27.98% |
| Average Renter Household Size | 2.10 |
| Average Household Size | 2.38 |
| Median Household Income | $56,363 ±$2,521 |
| Median Rent | $692 ±$36 |
| Percentage Of Renters Overburdened | 19.07% ± 5.84pp |
| Total Population | 28,985 |
Population and Household Demographics
Park County is a county in Wyoming with a population of 28,985. There are 11,822 households in the county with an average household size of 2.38 persons. 27.98% of households in Park County are renters.
Income and Rent Overburden in Park County
The median gross income for households in Park County is $56,363 a year, or $4,697 a month. The median rent for the county is $692 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Park County, a household making less than $2,307 a month would be considered overburdened when renting an apartment at or above the median rent. 19.07% of households who rent are overburdened in Park County.
Area Median Income In Park 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 Park County, HUD calculates the Area Median Income for a family of four as $84,000
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 Park 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 Park 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 Park 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 Park 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 Park 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 |
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