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There are 8 low-income apartments in Shoshoni that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Shoshoni where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on July 5th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Shoshoni, Wyoming Affordable Housing Data
Income Based Apartments in Shoshoni, Wyoming
Shoshoni features 0 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 Shoshoni, Wyoming
There are 8 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Shoshoni.
Housing Choice Vouchers in Shoshoni, Wyoming
On average, Section 8 Housing Choice vouchers pay Shoshoni landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Shoshoni.
The maximum amount a voucher would pay on behalf of a low-income tenant in Shoshoni, Wyoming for a two-bedroom apartment is between $922 and $1,126.
2024 Shoshoni, 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 | |
|---|---|---|---|---|---|
| Shoshoni, Wyoming Fair Market Rent | $774 | $779 | $1,024 | $1,434 | $1,559 |
| Shoshoni, Wyoming Payment Standard Range | $697 to $851 | $701 to $857 | $922 to $1,126 | $1,291 to $1,577 | $1,403 to $1,715 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Shoshoni, WY Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 8 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 39.27% |
| Average Renter Household Size | 2.21 |
| Average Household Size | 2.15 |
| Median Household Income | $40,903 ±$10,553 |
| Median Rent | $630 ±$81 |
| Percentage Of Renters Overburdened | 27.84% ± 27.21pp |
| Total Population | 530 |
Population and Household Demographics
Shoshoni is a city in Fremont County, Wyoming with a population of 530. There are 247 households in the city with an average household size of 2.15 persons. 39.27% of households in Shoshoni are renters.
Income and Rent Overburden in Shoshoni
The median gross income for households in Shoshoni is $40,903 a year, or $3,409 a month. The median rent for the city is $630 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Shoshoni, a household making less than $2,100 a month would be considered overburdened when renting an apartment at or above the median rent. 27.84% of households who rent are overburdened in Shoshoni.
Area Median Income In Shoshoni
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 Shoshoni, the AMI is calculated from all households within Fremont County.
In Shoshoni, HUD calculates the Area Median Income for a family of four as $81,000
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 Shoshoni
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 Shoshoni
| 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 Shoshoni 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 Shoshoni 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 Shoshoni 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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