2024	Median Family Income	2024 Yearly Income Limit	2024 Yearly Income Limit - Person(s) in Family
Income Limits		Category	1	2	3	4	5
Johnson County, IN	$102,900	Very Low Income (50%)	$36,050	$41,200	$46,350	$51,450	$55,600
Extremely Low Income (30%)	$21,600	$24,700	$27,800	$31,200	$36,580
Low Income (80%)	$57,650	$65,850	$74,100	$82,300	$88,900

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HUD Housing Low Income Tax Credit (LIHTC) Properties In Franklin, IN

Listed below are the Section 42, LIHTC apartments in Franklin, IN. LIHTC apartment rents are not based on the tenants income. Income credit set aside brackets are selected during the apartment credit applications are used to determine the apartment rents.

The rents are based upon the Area Medium Income (AMI) and tenant based utility allowances. At least 20% of these apartments (listed below), must provide these low rates for low-income tenants.

HUD housing LIHTC Eligibility Requirements

Income: Households must earn below a certain income level, which is set by the HUD and varies by location. In general, households must earn below 60% of the area median income (AMI) to be eligible for LIHTC housing.
Citizenship or residency status: Households must be U.S. citizens or legal permanent residents.
Need for housing assistance: Households must have a demonstrated need for housing assistance. This means that they must be unable to afford housing on their own.

In addition to the above requirements, some LIHTC properties may have additional eligibility requirements, such as age restrictions or preferences for certain types of households (e.g., families with children, veterans, etc.).

To determine if you are eligible for LIHTC housing, you can contact your local housing authority (listed above) or search for LIHTC properties (listed below).

LIHTC Maximum Rents

The maximum allowable rents are equal to 30% of the Area Medium Income (AMI), less the utility allowances.

HUD Fair Market Rents for Franklin, IN Johnson County

Apartment Size	HUD's Monthly Fair Market Rent For Area	LIHTC Maximum Rent
Studio Apartments	$982	Estimated $294.60 - utility allowance
One Bedroom Apartments	$1145	Estimated $343.50 - utility allowance
Two Bedroom Apartments	$1349	Estimated $404.70 - utility allowance
Three Bedroom Apartments	$1758	Estimated $527.40 - utility allowance

Available LIHTC Properties In Franklin, IN

Using the table above you can estimate what you would be paying by checking the LIHTC Maximum Rent section.

Contact these properties for openings and wait lists and price lists.

Franklin Greens Village

Upper Shelbville Rd
Franklin, IN - 46131
Total Apartment Units: 74

Lakeview Apartments

1280 N Lakeview Cir
Franklin, IN - 46131
Total Apartment Units: 160
Total Apartment Low Income Apartments: 160
1 Bedroom apartments 64
2 Bedroom apartments 96
Years In Service Since: 1992

Lakeview Apartments Phase Ii

1800 Lakeside Dr
Franklin, IN - 46131
Total Apartment Units: 64
Total Apartment Low Income Apartments: 64
1 Bedroom apartments 16
2 Bedroom apartments 44
3 Bedroom apartments 4
Years In Service Since: 1995

Traditions Apartments

1600 Traditions Ct
Franklin, IN - 46131
Total Apartment Units: 124
Total Apartment Low Income Apartments: 124
2 Bedroom apartments 64
3 Bedroom apartments 30
4 Bedroom apartments 30
Years In Service Since: 1996

Franklin Place Apartments

1721 Franklin Pl Ct
Franklin, IN - 46131
Total Apartment Units: 120
Total Apartment Low Income Apartments: 120
1 Bedroom apartments 24
2 Bedroom apartments 60
3 Bedroom apartments 36
Years In Service Since: 2000

HUD Housing Section 8 and Multifamily Properties in Franklin, IN

The US Department of Housing and Urban Development provides active listings of Section 8 and Multifamily apartments. We have listed them below for you to contact. Check with them to see if they have current availabilities and/or waiting lists. With Section 8 properties, you will need a voucher. Contact the Johnson County Public Housing Authorities, listed at the top of this page.

Eligibility for HUD Housing Section 8, you must meet the following requirements:

Income: Your income must be below a certain level, which is set by the HUD and varies by location. In general, households must earn below 50% of the area median income (AMI) to be eligible for Section 8 housing.
Citizenship or residency status: You must be a U.S. citizen or legal permanent resident.
Need for housing assistance: You must have a demonstrated need for housing assistance. This means that you must be unable to afford housing on your own.

In addition to the above requirements, some Section 8 programs may have additional eligibility requirements, such as age restrictions or preferences for certain types of households (e.g., families with children, veterans, etc.).

To determine if you are eligible for Section 8 housing, you can contact your local Public Housing Authority (listed above). The Public Housing Authorities can provide you with information on the application process and help you determine if you are eligible for Section 8 assistance.

Tips To Get In To Section 8 Housing:

Local Rules: Each local housing authority has different rules around Section 8. Decide where you want to live and find the housing authorities in charge of those neighborhoods.
Applying for a Voucher: Contact your local Public Housing Agency (PHA) to apply for a voucher. They can tell you if they’re currently accepting new applicants and provide application details.
Payment Standards: Section 8 doesn’t specify a fixed dollar amount for rent assistance. Instead, the PHA sets a payment standard based on local housing market rates.

Northwood Apartments Franklin

2018 Cedar Lane
Franklin, IN - 46131
Phone: 317-738-2121
Total Apartment Units: 100
Type of Listing: Insured-Subsidized

Franklin Cove

2015 Franklin Cove Ct
Franklin, IN - 46131
Phone: 317-736-6264
Total Apartment Units: 108
Type of Listing: Insured-Subsidized

Qualifying For HUD Housing Section 8 Vouchers In Franklin, IN

HUD Housing eligibility is determined by the Johnson County Public Housing Authority.

HUD Income Limits 2024 in Franklin, IN.