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

Discover affordable housing in Boonville where there are 4+ 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.

Lincoln Place Of Boonville

1201 Millis Ave, Boonville, Indiana 47601

Boonville Homes

414 W. Main Street and scattered site lots, Boonville, Indiana 47601

Governor Boon Square Apartments

1225 N Rockport Rd, Boonville, Indiana 47601

Oaks 5 Boonville CO Landmark Mgmt

1120 Country Place Dr, Boonville, Indiana 47601

calendar_today Opened: Jan 15
Open Until Further Notice

Reported On January 15th, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Boonville, Indiana
$20.27/hour
$13.02 (+180%) more than Indiana minimum wage and $13.02 (+180%) more than the Federal minimum wage.
Learn More About Boonville, Indiana Affordable Housing ↓

What HUD offices serve Boonville, 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 Boonville, Indiana.

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

How many renters live in Boonville, Indiana?

The City of Boonville has 6,670 people living in 2,777 households.

There are 2,246 renters living in 1,007 renter households in this City. Renters make up 33.67 percent of the population living in Boonville.

What is the rental market like in Boonville, Indiana?

There are an estimated 3,087 housing units in the Boonville area. Of these, 1,057 units are rental homes, making up 34 percent of the housing market. For every renter household in Boonville, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Boonville?

The rental vacancy rate in Boonville 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 Boonville for each bedroom size?

Occupied Rental Units by Size in Boonville
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
55 208 533 188 23
Occupied Rental Units by Size in Boonville

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

Among renter households in this market, 23 percent have housing cost burden. Further, 18 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 Boonville

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $766 to $1,558. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $766
One BR $850
Two BR $1,070
Three BR $1,360
Four BR $1,558
2024 Fair Market Rents in Boonville, Indiana

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

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 20 36 percent
One BR 172 83 percent
Two BR 395 74 percent
Rental Units Below FMR in Boonville, Indiana

How many affordable rental units are in Boonville?

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

Federal Program Unit Count
Low Income Housing Tax Credit 44
Section 8 Project-Based Rental Assistance 121
USDA Section 515 Rural Rental Housing 32
Tracked Units by Federal Program in Boonville, Indiana

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

Income Based Apartments in Boonville, Indiana

Boonville features 197 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 Boonville, Indiana

There are 44 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Boonville.

Housing Choice Vouchers in Boonville, Indiana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Boonville, Indiana for a two-bedroom apartment is between $963 and $1,177.

Sourced from federal housing data and AffordableHousingOnline.com research.