Low Income Apartments and Affordable Housing For Rent in Shepherd, MI

Discover affordable housing in Shepherd where there are 2+ 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.

Salt River Village Apartments II

232 S Union St, Shepherd, Michigan 48883

Salt River Vlg II Kmg Prestige, Inc.

276 S Union Street, Shepherd, Michigan

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Shepherd, Michigan
$17.82/hour
$7.49 (+73%) more than Michigan minimum wage and $10.57 (+146%) more than the Federal minimum wage.
Learn More About Shepherd, Michigan Affordable Housing ↓

What HUD offices serve Shepherd, Michigan?

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), Homeownership Voucher, Family Self-Sufficiency, Veteran Affairs Supportive Housing (VASH), Section 8 Project-Based Voucher (PBV) programs for Shepherd, Michigan.

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

How many renters live in Shepherd, Michigan?

The City of Shepherd has 1,415 people living in 506 households.

There are 337 renters living in 145 renter households in this City. Renters make up 23.82 percent of the population living in Shepherd.

What is the rental market like in Shepherd, Michigan?

There are an estimated 561 housing units in the Shepherd area. Of these, 168 units are rental homes, making up 30 percent of the housing market. For every renter household in Shepherd, Michigan, there are 1 rental units.

What is the vacancy rate for rentals in Shepherd?

The rental vacancy rate in Shepherd is 2 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 Shepherd for each bedroom size?

Occupied Rental Units by Size in Shepherd
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
16 17 77 15 14
Occupied Rental Units by Size in Shepherd

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

Among renter households in this market, 36 percent have housing cost burden. Further, 12 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 Shepherd

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $810 to $1,253. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $810
One BR $815
Two BR $941
Three BR $1,245
Four BR $1,253
2024 Fair Market Rents in Shepherd, Michigan

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

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 16 100 percent
One BR 13 76 percent
Two BR 47 61 percent
Rental Units Below FMR in Shepherd, Michigan

How many affordable rental units are in Shepherd?

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

Federal Program Unit Count
Low Income Housing Tax Credit 24
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Shepherd, Michigan

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

Income Based Apartments in Shepherd, Michigan

Shepherd features 24 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 Shepherd, Michigan

There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Shepherd.

Housing Choice Vouchers in Shepherd, Michigan

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Shepherd, Michigan for a two-bedroom apartment is between $847 and $1,035.

Sourced from federal housing data and AffordableHousingOnline.com research.