Low Income Apartments and Affordable Housing For Rent in Indianola, IA

Discover affordable housing in Indianola where there are 6+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Candleridge of Indianola

1205 W Iowa Ave, Indianola, Iowa 50125

Prairie Rose Senior Apartments

2010 W 4th Avenue, Indianola, Iowa 50125

Park View Village

810 S. R Street, Indianola, Iowa 50125

Meadow Village Apartments

801 S R St, Indianola, Iowa 50125

Williams Terrace

1603 N. 9th St., Indianola, Iowa 50125

Indian Country Apts

1210 E 1st Ave, Indianola, Iowa

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Indianola, Iowa
$20.45/hour
$13.20 (+182%) more than Iowa minimum wage and $13.20 (+182%) more than the Federal minimum wage.
Learn More About Indianola, Iowa Affordable Housing ↓

What HUD offices serve Indianola, Iowa?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Indianola, Iowa.

Go to the Iowa Public Housing and Low-Income Apartments Waiting Lists page for openings near Indianola.

How many renters live in Indianola, Iowa?

The City of Indianola has 15,845 people living in 5,944 households.

There are 3,673 renters living in 1,975 renter households in this City. Renters make up 23.18 percent of the population living in Indianola.

What is the rental market like in Indianola, Iowa?

There are an estimated 6,375 housing units in the Indianola area. Of these, 2,256 units are rental homes, making up 35 percent of the housing market. For every renter household in Indianola, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Indianola?

The rental vacancy rate in Indianola is 11 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Indianola for each bedroom size?

Occupied Rental Units by Size in Indianola
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
26 412 1,127 336 30
Occupied Rental Units by Size in Indianola

A large number of apartments in Indianola 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 Indianola are overburdened by housing costs?

Among renter households in this market, 45 percent have housing cost burden. Further, 17 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 Indianola

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $833 to $1,481. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $833
One BR $899
Two BR $1,080
Three BR $1,477
Four BR $1,481
2024 Fair Market Rents in Indianola, Iowa

How many units are rented at Fair Market Rent (FMR) in Indianola?

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 26 100 percent
One BR 356 86 percent
Two BR 769 68 percent
Rental Units Below FMR in Indianola, Iowa

How many affordable rental units are in Indianola?

There are a variety of federal affordable housing programs serving households in Indianola, Iowa including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 259
Section 8 Project-Based Rental Assistance 210
USDA Section 515 Rural Rental Housing 64
Tracked Units by Federal Program in Indianola, Iowa

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Indianola, Iowa

Indianola features 277 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 Indianola, Iowa

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Indianola.

Housing Choice Vouchers in Indianola, Iowa

On average, Section 8 Housing Choice vouchers pay Indianola landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in Indianola.

The maximum amount a voucher would pay on behalf of a low-income tenant in Indianola, Iowa for a two-bedroom apartment is between $972 and $1,188.

Sourced from federal housing data and AffordableHousingOnline.com research.