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

Discover affordable housing in Austin 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.

Austin Village

856 Broadway Street, Austin, Indiana 47102

Austin Apartments I ,

85 Audrey Ln, Austin, Indiana 47102

Austin Apartments

85 Audrey Lane, Austin, Indiana 47102

Waters Edge Apartments I

20 Red Oak Way, Austin, Indiana 47102

Waters Edge Apartments II

100 Red Oak Way, Austin, Indiana 47102

Town of Austin

Town of Austin, Austin, Indiana 46000

calendar_today Opened: Nov 1
Open Until Further Notice

Reported On February 23rd, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Austin, Indiana
$18.22/hour
$10.97 (+151%) more than Indiana minimum wage and $10.97 (+151%) more than the Federal minimum wage.
Learn More About Austin, Indiana Affordable Housing ↓

What HUD offices serve Austin, 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), Mainstream Voucher programs for Austin, Indiana.

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

How many renters live in Austin, Indiana?

The City of Austin has 3,596 people living in 1,651 households.

There are 1,413 renters living in 685 renter households in this City. Renters make up 39.29 percent of the population living in Austin.

What is the rental market like in Austin, Indiana?

There are an estimated 1,975 housing units in the Austin area. Of these, 727 units are rental homes, making up 37 percent of the housing market. For every renter household in Austin, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Austin?

The rental vacancy rate in Austin is 6 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 Austin for each bedroom size?

Occupied Rental Units by Size in Austin
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
206 33 191 181 62
Occupied Rental Units by Size in Austin

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

Among renter households in this market, 55 percent have housing cost burden. Further, 19 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 Austin

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $652 to $1,281. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $652
One BR $732
Two BR $962
Three BR $1,203
Four BR $1,281
2024 Fair Market Rents in Austin, Indiana

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

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 96 47 percent
One BR 32 97 percent
Two BR 137 72 percent
Rental Units Below FMR in Austin, Indiana

How many affordable rental units are in Austin?

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

Federal Program Unit Count
Low Income Housing Tax Credit 102
Section 8 Project-Based Rental Assistance 76
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Austin, Indiana

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

Income Based Apartments in Austin, Indiana

Austin features 100 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 Austin, Indiana

There are 114 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Austin.

Housing Choice Vouchers in Austin, Indiana

On average, Section 8 Housing Choice vouchers pay Austin landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Austin.

The maximum amount a voucher would pay on behalf of a low-income tenant in Austin, Indiana for a two-bedroom apartment is between $866 and $1,058.

Sourced from federal housing data and AffordableHousingOnline.com research.