Low Income Apartments and Affordable Housing For Rent in Grundy Center, IA

Discover affordable housing in Grundy Center 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.

Pheasant Hollow Apartments

91 D Ave, Grundy Center, Iowa 50638

Sunrise Apartments

101-209 F Avenue, Grundy Center, Iowa

Arlington Inv. III - 101 D Avenue

101 D Ave, Grundy Center, Iowa 50638

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Grundy Center, Iowa
$17.88/hour
$10.63 (+147%) more than Iowa minimum wage and $10.63 (+147%) more than the Federal minimum wage.
Learn More About Grundy Center, Iowa Affordable Housing ↓

How many renters live in Grundy Center, Iowa?

The City of Grundy Center has 2,792 people living in 1,086 households.

There are 384 renters living in 209 renter households in this City. Renters make up 13.75 percent of the population living in Grundy Center.

What is the rental market like in Grundy Center, Iowa?

There are an estimated 1,150 housing units in the Grundy Center area. Of these, 227 units are rental homes, making up 20 percent of the housing market. For every renter household in Grundy Center, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Grundy Center?

The rental vacancy rate in Grundy Center is 8 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 Grundy Center for each bedroom size?

Occupied Rental Units by Size in Grundy Center
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 88 65 27 29
Occupied Rental Units by Size in Grundy Center

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

Among renter households in this market, 31 percent have housing cost burden. Further, 20 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 Grundy Center

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $640 to $1,602. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $640
One BR $737
Two BR $944
Three BR $1,250
Four BR $1,602
2024 Fair Market Rents in Grundy Center, Iowa

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

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 69 78 percent
Two BR 59 91 percent
Rental Units Below FMR in Grundy Center, Iowa

How many affordable rental units are in Grundy Center?

There are a variety of federal affordable housing programs serving households in Grundy Center, Iowa including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 16
USDA Section 515 Rural Rental Housing 60
Tracked Units by Federal Program in Grundy Center, Iowa

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

Income Based Apartments in Grundy Center, Iowa

Grundy Center features 36 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 Grundy Center, Iowa

There are 32 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Grundy Center.

Housing Choice Vouchers in Grundy Center, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Grundy Center, Iowa for a two-bedroom apartment is between $850 and $1,038.

Sourced from federal housing data and AffordableHousingOnline.com research.