In March, we answered a reader question about affordable housing as part of our #AskedandAnswered series. They asked about who qualified for the “sweet new downtown apartments that are going up” on Eagle Street + Hilliard/Clingman.

#Answered: The Hillard Avenue Apartments at 338 Hillard Ave. will include 64 affordable units which will have 20-units for those making 80% of the median income ($34,350 for a single person) + 13 units for those making 60% of the median income. This is part of a land-use initiative grant, voted on by City Council.

Mountain Housing Opportunities is spearheading the Eagle Market Place project, which us a 90,000 SF building on the corner of Eagle + Market St. It will include 62 affordable units, where rent will range from $200 - $780.

However, there are many facets to affordable housing in Asheville. So, we break down some of the FAQ’s. Here is the skinny on affordable housing in Asheville.

What is considered affordable housing?

According to the City of Asheville:

“Homes for sale: Must be sold to buyers whose total housing obligation (principal and interested repayments, taxes, hazard insurance, and mortgage insurance) does not exceed 30% of the buyer's household income. The buyer's total household income cannot exceed the area median income, as established by the US Department of Housing and Urban Development, by household size.”

“Rental units: Must be rented at or below the maximum program rents and the first tenants must have household income below 80% of the area median income adjusted for family size.”

Who qualifies?

Here are the 2018 income limit guidelines for Asheville, according to HUD:

Low (80%): $49,050 (family of 4), $34,350 (single person)
Very low (50%): $30,650 (family of 4) , $21,500 (single person)
Extremely low: $25,100 (family of 4), $12,900 (single person)

There are a few different programs that all have different qualificatoins. But, the ones above regulate who falls into these brackets.

For example, The Asheville Housing Authority provides affordable housing to households at 50% of the Area median Income and below ( $21,500 for a single person; $30,650 for a family of four).

Other programs include mixed-income housing, where developers set aside a certain number of units to be at a lower rate which are considered “affordable” for those who qualify. (More on that below).

SocialServe + NCHousingSearch.org are two websites that list affordable rental units. Mountain Housing Opportunities is an Asheville organization with “the mission to build and improve homes, neighborhoods, communities, and lives.”

What is “fair market rent”?

According to HUD, $713 for a one bedroom, $891 for two bedrooms, $937 for three bedrooms in Asheville.

This is used to determine rental voucher amounts for government assistance housing programs such as Housing Choice Voucher Program (where HUD will cover part of your rent through a voucher). HUD can use the fair market rent rate to decide how much rent is covered through Section 8 for low income families and individuals.

It’s also sometimes used by tax appraisers to determine tax rates. See FMR’s around N.C. here.

What is mixed-income housing?

Housing that is partly rented as on the competitive rental market, which has a number of affordable units. Skylofts of Asheville, which are marketed as “luxury” apartments downtown, have 7 affordable units. RAD Lofts on Clingman will have 12 affordable units.

Here are mixed-income developments with units affordable to households at 80% of the median income (that’s $34,350 for a single person):

There are 13 mixed-income developments with units affordable to households at 60% of the median income (that’s just above $21,500 for a single person). However, they don’t include how many units. They include Mars Hills Commons, Glen Rock Apartments, NorthPoint Apartments, and more.

The Asheville Housing Authority provides affordable housing to households at 50% of the Area median Income and below( $21,500 for a single person; $30,650 for a family of four). Click below to visit the Asheville Housing Authority webpage to learn more information.

Can builders get credits for mixed-income housing?

Yes. Community Development Block Grant is a federal program through HUG which provides grants for projects that serve low moderate-income residents.

There's another program, HOME, which reimburses funds to those who provide affordable housing + expand the capacity to non-profit housing providers.

Plus, the Land Use Incentive Grant, which can approve incentives (through City Council) which fulfil important public purpose.

What is the application process?

Individuals can apply Mon. - Thurs. At 165 S. Broad from 9 - 4.

However, there is a “extensive waiting period to receive housing” according to Asheville Housing Authority.