In Fostoria, HUD calculates the Area Median Income for a family of four as $89,500 For Fostoria, the AMI is calculated from all households within Hancock 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 FostoriaĪffordable housing program eligibility is always determined by one's income. In Fostoria, a household making less than $1,897 a month would be considered overburdened when renting an apartment at or above the median rent.Ĥ9.66% of households who rent are overburdened in Fostoria. Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. The median gross income for households in Fostoria is $33,485 a year, or $2,790 a month. 31.79% of households in Fostoria are renters. There are 5,587 households in the city with an average household size of 2.29 persons. ± 7.42pp Total Population 13,187 Population and Household Demographicsįostoria is a city in Hancock County, Ohio with a population of 13,187. ±$51 Percentage Of Renters Overburdened 49.66% Total Affordable Apartment Properties 10 Total Low Income Apartments 730 Total Housing Units with Rental Assistance 516 Percentage of Housing Units Occupied By Renters 31.79% Average Renter Household Size 2.32 Average Household Size 2.29 Median Household Income $33,485 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 Fostoria, Ohio 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 Fostoria, Ohio for a two-bedroom apartment is between $815 and $996. The average voucher holder contributes $300 towards rent in Fostoria. On average, Section 8 Housing Choice vouchers pay Fostoria landlords $300 per month towards rent. Housing Choice Vouchers in Fostoria, Ohio There are 214 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fostoria. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities. Fostoria, Ohio Affordable Housing Data Income Based Apartments in Fostoria, Ohioįostoria features 516 income based apartments.
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