What HUD offices serve Knightstown, 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.
Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Knightstown.
How many renters live in Knightstown, Indiana?
The City of Knightstown has 2,175 people living in 867 households.
There are 680 renters living in 316 renter households in this City. Renters make up 31.26 percent of the population living in Knightstown.
What is the rental market like in Knightstown, Indiana?
There are an estimated 1,027 housing units in the Knightstown area. Of these, 340 units are rental homes, making up 33 percent of the housing market. For every renter household in Knightstown, Indiana, there are 1 rental units.
What is the vacancy rate for rentals in Knightstown?
The rental vacancy rate in Knightstown is 7 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 Knightstown for each bedroom size?
Occupied Rental Units by Size in Knightstown
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 68 | 183 | 53 | 8 |
Occupied Rental Units by Size in Knightstown
A large number of apartments in Knightstown 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 Knightstown are overburdened by housing costs?
Among renter households in this market, 61 percent have housing cost burden. Further, 23 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 Knightstown
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $678 to $1,204. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $678 |
| One BR | $682 |
| Two BR | $863 |
| Three BR | $1,083 |
| Four BR | $1,204 |
2024 Fair Market Rents in Knightstown, Indiana
How many units are rented at Fair Market Rent (FMR) in Knightstown?
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 | 46 | 68 percent |
| Two BR | 87 | 48 percent |
Rental Units Below FMR in Knightstown, Indiana
How many affordable rental units are in Knightstown?
There are a variety of federal affordable housing programs serving households in Knightstown, Indiana including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 38 |
| Section 8 Project-Based Rental Assistance | 24 |
| USDA Section 515 Rural Rental Housing | 24 |
Tracked Units by Federal Program in Knightstown, Indiana
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Knightstown, Indiana
Knightstown features 62 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 Knightstown, Indiana
There are 38 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Knightstown.
Housing Choice Vouchers in Knightstown, Indiana
On average, Section 8 Housing Choice vouchers pay Knightstown landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Knightstown.
The maximum amount a voucher would pay on behalf of a low-income tenant in Knightstown, Indiana for a two-bedroom apartment is between $777 and $949.
Sourced from federal housing data and AffordableHousingOnline.com research.
