What HUD offices serve Farmington, Iowa?
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 Iowa Public Housing and Low-Income Apartments Waiting Lists page for openings near Farmington.
How many renters live in Farmington, Iowa?
The City of Farmington has 506 people living in 247 households.
There are 52 renters living in 41 renter households in this City. Renters make up 10.28 percent of the population living in Farmington.
What is the rental market like in Farmington, Iowa?
There are an estimated 327 housing units in the Farmington area. Of these, 50 units are rental homes, making up 15 percent of the housing market. For every renter household in Farmington, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Farmington?
The rental vacancy rate in Farmington is 18 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 Farmington for each bedroom size?
Occupied Rental Units by Size in Farmington
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 10 | 25 | 6 | 0 |
Occupied Rental Units by Size in Farmington
A large number of apartments in Farmington 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 Farmington are overburdened by housing costs?
Among renter households in this market, 59 percent have housing cost burden. Further, 12 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 Farmington
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,346. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $630 |
| One BR | $768 |
| Two BR | $862 |
| Three BR | $1,139 |
| Four BR | $1,346 |
2024 Fair Market Rents in Farmington, Iowa
How many units are rented at Fair Market Rent (FMR) in Farmington?
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 | 10 | 100 percent |
| Two BR | 15 | 60 percent |
Rental Units Below FMR in Farmington, Iowa
How many affordable rental units are in Farmington?
Income Based Apartments in Farmington, Iowa
Farmington features 8 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 Farmington, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Farmington.
Housing Choice Vouchers in Farmington, Iowa
On average, Section 8 Housing Choice vouchers pay Farmington landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Farmington.
The maximum amount a voucher would pay on behalf of a low-income tenant in Farmington, Iowa for a two-bedroom apartment is between $776 and $948.
Sourced from federal housing data and AffordableHousingOnline.com research.
