How many renters live in Gilmore City, Iowa?
The City of Gilmore City has 609 people living in 254 households.
There are 134 renters living in 77 renter households in this City. Renters make up 22 percent of the population living in Gilmore City.
What is the rental market like in Gilmore City, Iowa?
There are an estimated 269 housing units in the Gilmore City area. Of these, 77 units are rental homes, making up 29 percent of the housing market. For every renter household in Gilmore City, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Gilmore City?
The rental vacancy rate in Gilmore City is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Gilmore City for each bedroom size?
Occupied Rental Units by Size in Gilmore City
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 19 | 11 | 26 | 14 | 7 |
Occupied Rental Units by Size in Gilmore City
A large number of apartments in Gilmore City have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Gilmore City are overburdened by housing costs?
Among renter households in this market, 35 percent have housing cost burden. Further, 25 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Gilmore City
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,224. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $630 |
| One BR | $701 |
| Two BR | $862 |
| Three BR | $1,215 |
| Four BR | $1,224 |
2024 Fair Market Rents in Gilmore City, Iowa
How many units are rented at Fair Market Rent (FMR) in Gilmore City?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 19 | 100 percent |
| One BR | 8 | 73 percent |
| Two BR | 13 | 50 percent |
Rental Units Below FMR in Gilmore City, Iowa
How many affordable rental units are in Gilmore City?
Income Based Apartments in Gilmore City, Iowa
Gilmore City features 15 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Gilmore City, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Gilmore City.
Housing Choice Vouchers in Gilmore City, Iowa
On average, Section 8 Housing Choice vouchers pay Gilmore City landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Gilmore City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Gilmore City, Iowa for a two-bedroom apartment is between $776 and $948.
Sourced from federal housing data and AffordableHousingOnline.com research.
