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 Kernersville, HUD calculates the Area Median Income for a family of four as $85,800 For Kernersville, the AMI is calculated from all households within Forsyth 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 KernersvilleĪffordable housing program eligibility is always determined by one's income. In Kernersville, a household making less than $2,417 a month would be considered overburdened when renting an apartment at or above the median rent.Ĥ6.6% of households who rent are overburdened in Kernersville. Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. The median gross income for households in Kernersville is $48,207 a year, or $4,017 a month. Income and Rent Overburden in Kernersville 44.82% of households in Kernersville are renters. There are 10,149 households in the city with an average household size of 2.31 persons. Kernersville is a city in Forsyth County, North Carolina with a population of 23,617. ± 5.87pp Total Population 23,617 Population and Household Demographics ±$22 Percentage Of Renters Overburdened 46.6% Total Affordable Apartment Properties 11 Total Low Income Apartments 909 Total Housing Units with Rental Assistance 423 Percentage of Housing Units Occupied By Renters 44.82% Average Renter Household Size 2.12 Average Household Size 2.31 Median Household Income $48,207 Kernersville, NC Affordable Housing Snapshot 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 Kernersville, North Carolina 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 Kernersville, North Carolina for a two-bedroom apartment is between $872 and $1,066. The average voucher holder contributes $300 towards rent in Kernersville. On average, Section 8 Housing Choice vouchers pay Kernersville landlords $600 per month towards rent. Housing Choice Vouchers in Kernersville, North Carolina There are 486 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Kernersville. Low Rent Apartments in Kernersville, North Carolina Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities. Kernersville features 423 income based apartments. Kernersville, North Carolina Affordable Housing Data Income Based Apartments in Kernersville, North Carolina
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