Low Income Apartments and Affordable Housing For Rent in Redkey, IN

Discover affordable housing in Redkey where there are 3+ 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.

Westwind Ltd.

700 W. Main Street, Redkey, Indiana 47373

Westwind Limited % Deardorf Property

700 W Main Stret, Redkey, Indiana

Redkey Limited % Deardorf Property

700 W Main Stret, Redkey, Indiana

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Redkey, Indiana
$16.34/hour
$9.09 (+125%) more than Indiana minimum wage and $9.09 (+125%) more than the Federal minimum wage.
Learn More About Redkey, Indiana Affordable Housing ↓

What HUD offices serve Redkey, Indiana?

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 Redkey, Indiana.

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

How many renters live in Redkey, Indiana?

The City of Redkey has 1,547 people living in 550 households.

There are 377 renters living in 155 renter households in this City. Renters make up 24.37 percent of the population living in Redkey.

What is the rental market like in Redkey, Indiana?

There are an estimated 601 housing units in the Redkey area. Of these, 163 units are rental homes, making up 27 percent of the housing market. For every renter household in Redkey, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Redkey?

The rental vacancy rate in Redkey is 5 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 Redkey for each bedroom size?

Occupied Rental Units by Size in Redkey
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 24 63 52 0
Occupied Rental Units by Size in Redkey

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

Among renter households in this market, 32 percent have housing cost burden. Further, 29 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 Redkey

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $611 to $1,149. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $611
One BR $657
Two BR $863
Three BR $1,109
Four BR $1,149
2024 Fair Market Rents in Redkey, Indiana

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

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 16 67 percent
Two BR 29 46 percent
Rental Units Below FMR in Redkey, Indiana

How many affordable rental units are in Redkey?

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

Federal Program Unit Count
Low Income Housing Tax Credit 32
USDA Section 515 Rural Rental Housing 16
Tracked Units by Federal Program in Redkey, Indiana

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

Income Based Apartments in Redkey, Indiana

Redkey features 32 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 Redkey, Indiana

There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Redkey.

Housing Choice Vouchers in Redkey, Indiana

On average, Section 8 Housing Choice vouchers pay Redkey landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Redkey.

The maximum amount a voucher would pay on behalf of a low-income tenant in Redkey, Indiana for a two-bedroom apartment is between $777 and $949.

Sourced from federal housing data and AffordableHousingOnline.com research.