There are 7 low income housing apartment communities offering 352 affordable apartments for rent in Walton County, Florida. Walton County features 198 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there...
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Population and Household Demographics
Walton County is a county in
Florida with a population of 59,487. There are 23,490 households in the county with an average household size of 2.45 persons. 28.23% of households in Walton County are renters.
Income and Rent Overburden in Walton County
The median gross income for households in Walton County is $44,966 a year, or $3,747 a month. The median rent for the county is $971 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Walton County, a household making less than $3,237 a month would be considered overburdened when renting an apartment at or above the median rent. 48.15% of households who rent are overburdened in Walton County.
Area Median Income In Walton 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 Walton County, HUD calculates the Area Median Income for a family of four as $85,300
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.