Low Income Apartments and Affordable Housing For Rent in Osceola, IA

Discover affordable housing in Osceola where there are 7+ 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.

Southern Hills Apartments

420 S Gustin St, Osceola, Iowa 50213

Clarke Community Housing

117 Mateer Dr, Osceola, Iowa 50213

Osceola Estates Lp

603 E Ayres St, Osceola, Iowa 50213

Osceola Estates

621 E Ayers St, Osceola, Iowa 50213

North Main Manor

310 N Main St, Osceola, Iowa 50213

Fillmore Place

801 S Fillmore St, Osceola, Iowa 50213

Country Club Apartments

1100 Longview Dr E, Osceola, Iowa 50213

Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Osceola, Iowa
$16.33/hour
$9.08 (+125%) more than Iowa minimum wage and $9.08 (+125%) more than the Federal minimum wage.
Learn More About Osceola, Iowa Affordable Housing ↓

What HUD offices serve Osceola, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Osceola, Iowa.

Go to the Iowa Public Housing and Low-Income Apartments Waiting Lists page for openings near Osceola.

How many renters live in Osceola, Iowa?

The City of Osceola has 5,455 people living in 2,299 households.

There are 1,827 renters living in 916 renter households in this City. Renters make up 33.49 percent of the population living in Osceola.

What is the rental market like in Osceola, Iowa?

There are an estimated 2,672 housing units in the Osceola area. Of these, 949 units are rental homes, making up 36 percent of the housing market. For every renter household in Osceola, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Osceola?

The rental vacancy rate in Osceola is 3 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 Osceola for each bedroom size?

Occupied Rental Units by Size in Osceola
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
18 429 224 245 0
Occupied Rental Units by Size in Osceola

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

Among renter households in this market, 54 percent have housing cost burden. Further, 34 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 Osceola

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,148. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $630
One BR $656
Two BR $862
Three BR $1,144
Four BR $1,148
2024 Fair Market Rents in Osceola, Iowa

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

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 18 100 percent
One BR 274 64 percent
Two BR 184 82 percent
Rental Units Below FMR in Osceola, Iowa

How many affordable rental units are in Osceola?

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

Federal Program Unit Count
Low Income Housing Tax Credit 96
Public Housing 4
Section 202 Supportive Housing for the Elderly 56
Section 811 Supportive Housing for Persons with Disabilities 25
USDA Section 515 Rural Rental Housing 137
Tracked Units by Federal Program in Osceola, Iowa

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

Income Based Apartments in Osceola, Iowa

Osceola features 126 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 Osceola, Iowa

There are 408 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Osceola.

Housing Choice Vouchers in Osceola, Iowa

On average, Section 8 Housing Choice vouchers pay Osceola landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Osceola.

The maximum amount a voucher would pay on behalf of a low-income tenant in Osceola, Iowa for a two-bedroom apartment is between $776 and $948.

Sourced from federal housing data and AffordableHousingOnline.com research.