Low Income Apartments and Affordable Housing For Rent in Forest Lake, MN

Discover affordable housing in Forest Lake 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.

Forest Oak Apartments

19838 Forest Rd N, Forest Lake, Minnesota 55025

Fitzgerald Flats

19951 Headwaters Blvd N, Forest Lake, Minnesota 55025

Headwaters Landing

20041 Fitzgerald Trail North, Forest Lake, Minnesota 55025

Kilkenny Court Apartments

1440 4th St SE, Forest Lake, Minnesota 55025

Forest Ridge Townhomes

1210 4th St SE, Forest Lake, Minnesota 55025

Westridge Townhomes

816 12th Street SW, Forest Lake, Minnesota 55025

Whispering Pines

7 5th Ave NE, Forest Lake, Minnesota 55025

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Forest Lake, Minnesota
$30.72/hour
$21.87 (+247%) more than Minnesota minimum wage and $23.47 (+324%) more than the Federal minimum wage.
Learn More About Forest Lake, Minnesota Affordable Housing ↓

What HUD offices serve Forest Lake, Minnesota?

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 Forest Lake, Minnesota.
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Forest Lake, Minnesota.

Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Forest Lake.

How many renters live in Forest Lake, Minnesota?

The City of Forest Lake has 20,553 people living in 8,051 households.

There are 4,922 renters living in 2,164 renter households in this City. Renters make up 23.95 percent of the population living in Forest Lake.

What is the rental market like in Forest Lake, Minnesota?

There are an estimated 8,445 housing units in the Forest Lake area. Of these, 2,332 units are rental homes, making up 28 percent of the housing market. For every renter household in Forest Lake, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Forest Lake?

The rental vacancy rate in Forest Lake is 5 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 Forest Lake for each bedroom size?

Occupied Rental Units by Size in Forest Lake
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
58 682 819 411 119
Occupied Rental Units by Size in Forest Lake

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

Among renter households in this market, 54 percent have housing cost burden. Further, 21 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 Forest Lake

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,174 to $2,478. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,174
One BR $1,327
Two BR $1,622
Three BR $2,188
Four BR $2,478
2024 Fair Market Rents in Forest Lake, Minnesota

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

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 30 52 percent
One BR 483 71 percent
Two BR 555 68 percent
Rental Units Below FMR in Forest Lake, Minnesota

How many affordable rental units are in Forest Lake?

There are a variety of federal affordable housing programs serving households in Forest Lake, Minnesota including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 244
Public Housing 40
Section 8 Project-Based Rental Assistance 165
Tracked Units by Federal Program in Forest Lake, Minnesota

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

Income Based Apartments in Forest Lake, Minnesota

Forest Lake features 174 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 Forest Lake, Minnesota

There are 172 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Forest Lake.

Housing Choice Vouchers in Forest Lake, Minnesota

On average, Section 8 Housing Choice vouchers pay Forest Lake landlords $3,300 per month towards rent. The average voucher holder contributes $300 towards rent in Forest Lake.

The maximum amount a voucher would pay on behalf of a low-income tenant in Forest Lake, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.

Sourced from federal housing data and AffordableHousingOnline.com research.