What HUD offices serve Walnut, 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 Walnut.
How many renters live in Walnut, Iowa?
The City of Walnut has 990 people living in 350 households.
There are 201 renters living in 111 renter households in this City. Renters make up 20.3 percent of the population living in Walnut.
What is the rental market like in Walnut, Iowa?
There are an estimated 426 housing units in the Walnut area. Of these, 126 units are rental homes, making up 30 percent of the housing market. For every renter household in Walnut, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Walnut?
The rental vacancy rate in Walnut is 12 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 Walnut for each bedroom size?
Occupied Rental Units by Size in Walnut
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 47 | 21 | 29 | 12 |
Occupied Rental Units by Size in Walnut
A large number of apartments in Walnut 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 Walnut are overburdened by housing costs?
Among renter households in this market, 41 percent have housing cost burden. Further, 23 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 Walnut
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $895 to $1,733. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $895 |
| One BR | $971 |
| Two BR | $1,170 |
| Three BR | $1,562 |
| Four BR | $1,733 |
2024 Fair Market Rents in Walnut, Iowa
How many units are rented at Fair Market Rent (FMR) in Walnut?
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 | 37 | 79 percent |
| Two BR | 21 | 100 percent |
Rental Units Below FMR in Walnut, Iowa
How many affordable rental units are in Walnut?
There are a variety of federal affordable housing programs serving households in Walnut, Iowa including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 17 |
Tracked Units by Federal Program in Walnut, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Walnut, Iowa
Walnut features 69 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 Walnut, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Walnut.
Housing Choice Vouchers in Walnut, Iowa
On average, Section 8 Housing Choice vouchers pay Walnut landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Walnut.
The maximum amount a voucher would pay on behalf of a low-income tenant in Walnut, Iowa for a two-bedroom apartment is between $1,053 and $1,287.
Sourced from federal housing data and AffordableHousingOnline.com research.
