What HUD offices serve Iowa City, 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 Iowa City.
How many renters live in Iowa City, Iowa?
The City of Iowa City has 75,231 people living in 29,763 households.
There are 33,213 renters living in 15,442 renter households in this City. Renters make up 44.15 percent of the population living in Iowa City.
What is the rental market like in Iowa City, Iowa?
There are an estimated 33,463 housing units in the Iowa City area. Of these, 18,246 units are rental homes, making up 55 percent of the housing market. For every renter household in Iowa City, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Iowa City?
The rental vacancy rate in Iowa City 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 Iowa City for each bedroom size?
Occupied Rental Units by Size in Iowa City
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 903 | 4,334 | 6,353 | 3,288 | 1,157 |
Occupied Rental Units by Size in Iowa City
A large number of apartments in Iowa City 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 Iowa City are overburdened by housing costs?
Among renter households in this market, 62 percent have housing cost burden. Further, 41 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 Iowa City
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $783 to $1,836. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $783 |
| One BR | $902 |
| Two BR | $1,082 |
| Three BR | $1,525 |
| Four BR | $1,836 |
2024 Fair Market Rents in Iowa City, Iowa
How many units are rented at Fair Market Rent (FMR) in Iowa City?
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 | 453 | 50 percent |
| One BR | 2,288 | 53 percent |
| Two BR | 2,826 | 44 percent |
Rental Units Below FMR in Iowa City, Iowa
How many affordable rental units are in Iowa City?
There are a variety of federal affordable housing programs serving households in Iowa City, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 687 |
| Public Housing | 86 |
| Section 8 Project-Based Rental Assistance | 516 |
| Section 811 Supportive Housing for Persons with Disabilities | 11 |
Tracked Units by Federal Program in Iowa City, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Iowa City, Iowa
Iowa City features 667 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 Iowa City, Iowa
There are 480 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Iowa City.
Housing Choice Vouchers in Iowa City, Iowa
On average, Section 8 Housing Choice vouchers pay Iowa City landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Iowa City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Iowa City, Iowa for a two-bedroom apartment is between $974 and $1,190.
Sourced from federal housing data and AffordableHousingOnline.com research.
