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. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811. Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. In Madison, HUD calculates the Area Median Income for a family of four as $123,400 For Madison, the AMI is calculated from all households within Dane County. 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. The AMI is calculated and published each year by HUD. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. Each household's income is compared to the incomes of all other households in the area. Area Median Income In MadisonĪffordable housing program eligibility is always determined by one's income. The median gross income for households in Madison is $0 a year, or $0 a month. There are 0 households in the city with an average household size of 0.00 persons. Madison is a city in Dane County, Wisconsin with a population of 0. ±$0 Total Population 0 Population and Household Demographics Total Affordable Apartment Properties 108 Total Low Income Apartments 7,906 Total Housing Units with Rental Assistance 2,782 Percentage of Housing Units Occupied By Renters % Average Renter Household Size 0.00 Average Household Size 0.00 Median Household Income $0 Sourced from federal housing data and research. 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. 2023 Madison, Wisconsin Fair Market Rents and Housing Choice Voucher Payment Standardsįair Market Rents can be used to better understand the average housing costs of an area. The maximum amount a voucher would pay on behalf of a low-income tenant in Madison, Wisconsin for a two-bedroom apartment is between $1,240 and $1,516. The average voucher holder contributes $0 towards rent in Madison. On average, Section 8 Housing Choice vouchers pay Madison landlords $0 per month towards rent. Housing Choice Vouchers in Madison, Wisconsin There are 4,571 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison. Low Rent Apartments in Madison, Wisconsin Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities. Madison features 2,782 income based apartments. Madison, Wisconsin Affordable Housing Data Income Based Apartments in Madison, Wisconsin
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