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There are 57 low-income apartments in Teton County that offer reduced rents to eligible households.
Rental assistance programs support 130 low-income homes in Teton County where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Teton County, Wyoming Affordable Housing Data
Income Based Apartments in Teton County, Wyoming
Teton County features 130 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 Teton County, Wyoming
There are 57 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Teton County.
Housing Choice Vouchers in Teton County, Wyoming
On average, Section 8 Housing Choice vouchers pay Teton County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Teton County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Teton County, Wyoming for a two-bedroom apartment is between $1,568 and $1,916.
2024 Teton 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 | |
|---|---|---|---|---|---|
| Teton County, Wyoming Fair Market Rent | $1,317 | $1,326 | $1,742 | $2,322 | $2,896 |
| Teton County, Wyoming Payment Standard Range | $1,185 to $1,449 | $1,193 to $1,459 | $1,568 to $1,916 | $2,090 to $2,554 | $2,606 to $3,186 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Teton County, WY Affordable Housing Snapshot
| Total Affordable Apartment Properties | 8 |
|---|---|
| Total Low Income Apartments | 187 |
| Total Housing Units with Rental Assistance | 130 |
| Percentage of Housing Units Occupied By Renters | 39.5% |
| Average Renter Household Size | 2.75 |
| Average Household Size | 2.63 |
| Median Household Income | $75,325 ±$7,370 |
| Median Rent | $1,113 ±$76 |
| Percentage Of Renters Overburdened | 37.54% ± 8.48pp |
| Total Population | 22,311 |
Population and Household Demographics
Teton County is a county in Wyoming with a population of 22,311. There are 8,187 households in the county with an average household size of 2.63 persons. 39.5% of households in Teton County are renters.
Income and Rent Overburden in Teton County
The median gross income for households in Teton County is $75,325 a year, or $6,277 a month. The median rent for the county is $1,113 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Teton County, a household making less than $3,710 a month would be considered overburdened when renting an apartment at or above the median rent. 37.54% of households who rent are overburdened in Teton County.
Area Median Income In Teton 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 Teton County, HUD calculates the Area Median Income for a family of four as $127,700
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 Teton 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 Teton 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 Teton County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$26,850 | $30,650 | $34,500 | $38,300 | $41,400 | $44,450 | $47,500 | $50,600 |
| 50% AMI Income Limits Renters earning up to 50% of the Teton County AMI may qualify for rental assistance programs that target Very Low Income households. |
$44,700 | $51,100 | $57,500 | $63,850 | $69,000 | $74,100 | $79,200 | $84,300 |
| 80% AMI Income Limits Renters earning up to 80% of the Teton County AMI may qualify for rental assistance programs that target Low Income households. |
$66,300 | $75,750 | $85,200 | $94,650 | $102,250 | $109,800 | $117,400 | $124,950 |
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