How many renters live in Monona County, Iowa?
The County of Monona County has 8,671 people living in 3,852 households.
There are 1,773 renters living in 839 renter households in this County. Renters make up 20.45 percent of the population living in Monona County.
What is the rental market like in Monona County, Iowa?
There are an estimated 4,403 housing units in the Monona County area. Of these, 899 units are rental homes, making up 20 percent of the housing market. For every renter household in Monona County, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Monona County?
The rental vacancy rate in Monona County 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 Monona County for each bedroom size?
Occupied Rental Units by Size in Monona County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 7 | 176 | 289 | 244 | 104 |
Occupied Rental Units by Size in Monona County
A large number of apartments in Monona County 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 Monona County are overburdened by housing costs?
Among renter households in this market, 35 percent have housing cost burden. Further, 16 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 Monona County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $652 to $1,385. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $652 |
| One BR | $656 |
| Two BR | $862 |
| Three BR | $1,042 |
| Four BR | $1,385 |
2024 Fair Market Rents in Monona County, Iowa
How many units are rented at Fair Market Rent (FMR) in Monona County?
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 | 4 | 57 percent |
| One BR | 91 | 52 percent |
| Two BR | 175 | 61 percent |
Rental Units Below FMR in Monona County, Iowa
How many affordable rental units are in Monona County?
There are a variety of federal affordable housing programs serving households in Monona County, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 24 |
| Public Housing | 62 |
| Section 202 Supportive Housing for the Elderly | 16 |
| Section 811 Supportive Housing for Persons with Disabilities | 8 |
| USDA Section 515 Rural Rental Housing | 10 |
Tracked Units by Federal Program in Monona County, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Monona County, Iowa
Monona County features 116 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 Monona County, Iowa
There are 42 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monona County.
Housing Choice Vouchers in Monona County, Iowa
On average, Section 8 Housing Choice vouchers pay Monona County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Monona County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Monona County, Iowa for a two-bedroom apartment is between $776 and $948.
Sourced from federal housing data and AffordableHousingOnline.com research.
