Low Income Housing in Georgetown

According to http://affordablehousingonline.com/  the total number of renter households in Georgetown is 5,118, which is 27.2% of all households in the city. There are 740 units financed through a variety of Federal programs, including Section 8 and Low Income Housing Tax Credits.

The average number of units per property for affordable rentals in Georgetown is 92.50. The largest Federally assisted affordable rental community in the city is Oaks At Georgetown L.p. at 192 units and the smallest is Georgetown at 20 unit(s). One apartment property provides housing for seniors containing 100 units. Of the 740 units, 281 units include some form of rental assistance (like Section 8) to make rent more affordable for very low income families.

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties.

In Georgetown, there are 4 affordable housing properties providing rental assistance to 281 very low income households. In addition, Georgetown Housing Authority provides 100 Section 8 rental vouchers in Georgetown and the surrounding area.

The Area Median Income (AMI) for the Georgetown/Williamson county Metropolitan Statistical Area is $76,800 for a family of four. Rental assistance can be provided for those earning 50% or less of AMI, or $38,400 for a family of four.

Five projects consisting of 601 units have been built in Georgetown using Tax Credits. The proposals before the City Council would build an additional 104 units (Kaia Pointe), 220 units (Merritt Heritage Apartments), or 108 units at Live Oak Apartments.  Potentially there will be built 432 low income units along Williams Drive using a variety of Federal funding sources if the City Councils approves these additional developments.