What is an “affordable” property for Denton-area homeless?
A house or apartment is affordable when it costs about 30 percent of one’s annual income, according to the U.S. Department of Housing and Urban Development. But for those who don’t have a job or a home, affordability is sometimes determined by “fair market rents.”
Designated by HUD, fair market rents are slightly below the average gross rent in specific geographic areas. Gross rents include rent and utility costs.
In order for some local homeless support agencies to provide rental assistance for homeless clients, caseworkers must place them in a property that does not exceed fair market rent prices.
In the 76201 ZIP code, which covers most of Denton, the fair market rent for a one-bedroom apartment costs $760; for a two-bedroom, $940; for a three-bedroom, $1,270; and for a four-bedroom, $1,610.
Those fair market rents are among the lowest in Denton County.
The 75028 ZIP code, which covers a large portion of Flower Mound, has some of the highest fair market rent prices in the county. One-bedroom units cost $1,150; two-bedroom, $1,430; three-bedroom, $1,940; and four-bedroom, $2,450.
— Julian Gill
SOURCE: U.S. Department of Housing and Urban Development
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