9/3/2023 0 Comments Apartments in meridian msThe 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 MeridianĪffordable housing program eligibility is always determined by one's income. In Meridian, a household making less than $2,233 a month would be considered overburdened when renting an apartment at or above the median rent.Ĥ6.44% of households who rent are overburdened in Meridian. Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. The median gross income for households in Meridian is $30,355 a year, or $2,530 a month. 48.68% of households in Meridian are renters. There are 15,937 households in the city with an average household size of 2.45 persons. Meridian is a city in Lauderdale County, Mississippi with a population of 40,507. ± 5.16pp Total Population 40,507 Population and Household Demographics ±$25 Percentage Of Renters Overburdened 46.44% Total Affordable Apartment Properties 30 Total Low Income Apartments 2,790 Total Housing Units with Rental Assistance 2,195 Percentage of Housing Units Occupied By Renters 48.68% Average Renter Household Size 2.54 Average Household Size 2.45 Median Household Income $30,355 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 Meridian, Mississippi 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 Meridian, Mississippi for a two-bedroom apartment is between $730 and $892. The average voucher holder contributes $300 towards rent in Meridian. On average, Section 8 Housing Choice vouchers pay Meridian landlords $500 per month towards rent. Housing Choice Vouchers in Meridian, Mississippi There are 563 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Meridian. Low Rent Apartments in Meridian, Mississippi Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities. Meridian features 2,195 income based apartments. Meridian, Mississippi Affordable Housing Data Income Based Apartments in Meridian, Mississippi
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