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

Discover affordable housing in Walkerton where there are 2+ 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.

23 South Apartments Ruth a Desimone

700 Indiana St, Walkerton, Indiana 46574

76 Apartments Ruth a Desimone

506 Illinois St, Walkerton, Indiana 46574

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Walkerton, Indiana
$19.26/hour
$12.01 (+166%) more than Indiana minimum wage and $12.01 (+166%) more than the Federal minimum wage.
Learn More About Walkerton, Indiana Affordable Housing ↓

What HUD offices serve Walkerton, 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 Walkerton, Indiana.

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

How many renters live in Walkerton, Indiana?

The City of Walkerton has 2,022 people living in 754 households.

There are 410 renters living in 185 renter households in this City. Renters make up 20.28 percent of the population living in Walkerton.

What is the rental market like in Walkerton, Indiana?

There are an estimated 800 housing units in the Walkerton area. Of these, 202 units are rental homes, making up 25 percent of the housing market. For every renter household in Walkerton, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Walkerton?

The rental vacancy rate in Walkerton is 8 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 Walkerton for each bedroom size?

Occupied Rental Units by Size in Walkerton
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 48 66 58 8
Occupied Rental Units by Size in Walkerton

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

Among renter households in this market, 59 percent have housing cost burden. Further, 22 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 Walkerton

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $689 to $1,354. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $689
One BR $862
Two BR $1,017
Three BR $1,267
Four BR $1,354
2024 Fair Market Rents in Walkerton, Indiana

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

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 79 percent
Two BR 60 91 percent
Rental Units Below FMR in Walkerton, Indiana

How many affordable rental units are in Walkerton?

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

Federal Program Unit Count
Low Income Housing Tax Credit 40
USDA Section 515 Rural Rental Housing 22
Tracked Units by Federal Program in Walkerton, Indiana

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

Income Based Apartments in Walkerton, Indiana

Walkerton features 22 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 Walkerton, Indiana

There are 8 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Walkerton.

Housing Choice Vouchers in Walkerton, Indiana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Walkerton, Indiana for a two-bedroom apartment is between $915 and $1,119.

Sourced from federal housing data and AffordableHousingOnline.com research.