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

Discover affordable housing in Ferdinand 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.

Benet Hall Apartments

821 Benet Drive, Ferdinand, Indiana 47532

Ferdinand Housing for the Elderly, Phase II

234 W 9th St, Ferdinand, Indiana 47532

Golden Years Haven

855 Missouri St, Ferdinand, Indiana 47532

calendar_today Opened: Aug 15
Open Until Further Notice

Reported On February 23rd, 2024 by Ayat Elkarib

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 Ferdinand, 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 Ferdinand, Indiana Affordable Housing ↓

What HUD offices serve Ferdinand, 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 Ferdinand, Indiana.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Ferdinand, Indiana.

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

How many renters live in Ferdinand, Indiana?

The City of Ferdinand has 2,428 people living in 963 households.

There are 397 renters living in 239 renter households in this City. Renters make up 16.35 percent of the population living in Ferdinand.

What is the rental market like in Ferdinand, Indiana?

There are an estimated 1,049 housing units in the Ferdinand area. Of these, 239 units are rental homes, making up 23 percent of the housing market. For every renter household in Ferdinand, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Ferdinand?

The rental vacancy rate in Ferdinand is 0 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 Ferdinand for each bedroom size?

Occupied Rental Units by Size in Ferdinand
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
8 29 139 57 6
Occupied Rental Units by Size in Ferdinand

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

Among renter households in this market, 22 percent have housing cost burden. Further, 3 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 Ferdinand

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $600 to $1,465. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $600
One BR $657
Two BR $863
Three BR $1,216
Four BR $1,465
2024 Fair Market Rents in Ferdinand, Indiana

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

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 3 38 percent
One BR 26 90 percent
Two BR 62 45 percent
Rental Units Below FMR in Ferdinand, Indiana

How many affordable rental units are in Ferdinand?

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

Federal Program Unit Count
Low Income Housing Tax Credit 15
Section 8 Project-Based Rental Assistance 20
USDA Section 515 Rural Rental Housing 20
Tracked Units by Federal Program in Ferdinand, Indiana

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

Income Based Apartments in Ferdinand, Indiana

Ferdinand features 40 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 Ferdinand, Indiana

There are 15 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ferdinand.

Housing Choice Vouchers in Ferdinand, Indiana

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.