How many renters live in West Point, Iowa?
The City of West Point has 913 people living in 386 households.
There are 130 renters living in 77 renter households in this City. Renters make up 14.24 percent of the population living in West Point.
What is the rental market like in West Point, Iowa?
There are an estimated 421 housing units in the West Point area. Of these, 87 units are rental homes, making up 21 percent of the housing market. For every renter household in West Point, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in West Point?
The rental vacancy rate in West Point 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 West Point for each bedroom size?
Occupied Rental Units by Size in West Point
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 38 | 14 | 21 | 0 |
Occupied Rental Units by Size in West Point
A large number of apartments in West Point 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 West Point are overburdened by housing costs?
Among renter households in this market, 30 percent have housing cost burden. Further, 23 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 West Point
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $598 to $1,207. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $598 |
| One BR | $672 |
| Two BR | $882 |
| Three BR | $1,185 |
| Four BR | $1,207 |
2024 Fair Market Rents in West Point, Iowa
How many units are rented at Fair Market Rent (FMR) in West Point?
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 |
| One BR | 38 | 100 percent |
| Two BR | 6 | 43 percent |
Rental Units Below FMR in West Point, Iowa
How many affordable rental units are in West Point?
There are a variety of federal affordable housing programs serving households in West Point, Iowa including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 23 |
Tracked Units by Federal Program in West Point, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in West Point, Iowa
West Point features 23 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 West Point, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in West Point.
Housing Choice Vouchers in West Point, Iowa
On average, Section 8 Housing Choice vouchers pay West Point landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in West Point.
The maximum amount a voucher would pay on behalf of a low-income tenant in West Point, Iowa for a two-bedroom apartment is between $794 and $970.
Sourced from federal housing data and AffordableHousingOnline.com research.
