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

Discover affordable housing in Parnell where there are 1+ 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.

Franklin Arms

356 Naughton St, Parnell, Iowa

calendar_today Opened: Oct 1
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 Parnell, 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 Parnell, Iowa Affordable Housing ↓

What HUD offices serve Parnell, 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, Homeownership Voucher, Family Self-Sufficiency programs for Parnell, Iowa.

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

How many renters live in Parnell, Iowa?

The City of Parnell has 241 people living in 108 households.

There are 48 renters living in 17 renter households in this City. Renters make up 19.92 percent of the population living in Parnell.

What is the rental market like in Parnell, Iowa?

There are an estimated 112 housing units in the Parnell area. Of these, 17 units are rental homes, making up 15 percent of the housing market. For every renter household in Parnell, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Parnell?

The rental vacancy rate in Parnell is 0 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 Parnell for each bedroom size?

Occupied Rental Units by Size in Parnell
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 1 11 5 0
Occupied Rental Units by Size in Parnell

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

Among renter households in this market, 24 percent have housing cost burden. Further, 24 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 Parnell

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,434. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $630
One BR $696
Two BR $862
Three BR $1,215
Four BR $1,434
2024 Fair Market Rents in Parnell, Iowa

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

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 1 100 percent
Two BR 4 36 percent
Rental Units Below FMR in Parnell, Iowa

How many affordable rental units are in Parnell?

Income Based Apartments in Parnell, Iowa

Parnell features 6 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 Parnell, Iowa

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Parnell.

Housing Choice Vouchers in Parnell, Iowa

On average, Section 8 Housing Choice vouchers pay Parnell landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Parnell.

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

Sourced from federal housing data and AffordableHousingOnline.com research.