Fair Market Rent - Oakland County, MI
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $920 |
| 1 Bedroom | $1,019 |
| 2 Bedroom | $1,291 |
| 3 Bedroom | $1,595 |
| 4 Bedroom | $1,719 |
Income Limits - Oakland County, MI
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,800
- Very Low (50%)
- $28,000
- Low (80%)
- $44,800
- Extremely Low (30%)
- $19,200
- Very Low (50%)
- $32,000
- Low (80%)
- $51,200
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $36,000
- Low (80%)
- $57,600
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $40,000
- Low (80%)
- $64,000
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $43,200
- Low (80%)
- $69,150
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $46,400
- Low (80%)
- $74,250
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $49,600
- Low (80%)
- $79,400
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $52,800
- Low (80%)
- $84,500
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,800 | $28,000 | $44,800 |
| 2 Persons | $19,200 | $32,000 | $51,200 |
| 3 Persons | $21,960 | $36,000 | $57,600 |
| 4 Persons | $26,500 | $40,000 | $64,000 |
| 5 Persons | $31,040 | $43,200 | $69,150 |
| 6 Persons | $35,580 | $46,400 | $74,250 |
| 7 Persons | $40,120 | $49,600 | $79,400 |
| 8 Persons | $44,660 | $52,800 | $84,500 |
Frequently Asked Questions About Housing in Waterford, MI
How many affordable housing options are in Waterford, Michigan?+
There are 4 affordable housing properties in Waterford, Michigan, including 4 Low-Income Housing Tax Credit (LIHTC) listings. Browse the full list above to find options that fit your needs.
What is the average rent for affordable housing in Waterford, Michigan?+
The Fair Market Rent for Oakland County, Michigan is: Studio: $920, 1BR: $1019, 2BR: $1291, 3BR: $1595. Subsidized housing typically charges tenants 30% of their adjusted gross income, which may be significantly less than FMR.
How do I apply for Section 8 housing in Waterford, Michigan?+
To apply for Section 8 (Housing Choice Voucher) in Waterford, Michigan, contact your local housing authority. You can browse the housing authority listings on this page to find contact information. Applications are typically accepted when the waitlist is open. Eligibility is based on income (generally below 50% of Area Median Income), family size, and citizenship status.
What are the income limits for affordable housing in Oakland County, Michigan?+
For a 4-person household in Oakland County, Michigan, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $40,000, Low Income (80% AMI): $64,000. Income limits vary by household size and are updated annually by HUD.
What types of affordable housing are available in Waterford, Michigan?+
Waterford, Michigan has the following types of affordable housing: LIHTC properties (privately owned, tax-credit funded affordable apartments). Each program has different eligibility requirements and application processes.
What is the population of Waterford, Michigan?+
Waterford, Michigan has an estimated population of 0. With 4 affordable housing properties serving the area, there are housing assistance options available for eligible residents.