Low Income Apartments and Affordable Housing For Rent in Isanti, MN

Discover affordable housing in Isanti where there are 5+ 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.

Elmhurst Apartments

825 Oakwood St NW, Isanti, Minnesota 55040

Rum River Square

603 3rd Ave NW, Isanti, Minnesota 55040

Meadows Edge Apts

106 Heritage Blvd Nw, Isanti, Minnesota

Park View Apartments

100 5th Ave N, Isanti, Minnesota 55040

Oakwood Estates

831 Oakwood St NW, Isanti, Minnesota 55040

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Isanti, 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 Isanti, Minnesota Affordable Housing ↓

How many renters live in Isanti, Minnesota?

The City of Isanti has 6,850 people living in 2,538 households.

There are 1,031 renters living in 552 renter households in this City. Renters make up 15.05 percent of the population living in Isanti.

What is the rental market like in Isanti, Minnesota?

There are an estimated 2,674 housing units in the Isanti area. Of these, 614 units are rental homes, making up 23 percent of the housing market. For every renter household in Isanti, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Isanti?

The rental vacancy rate in Isanti 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 Isanti for each bedroom size?

Occupied Rental Units by Size in Isanti
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 174 349 0 29
Occupied Rental Units by Size in Isanti

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

Among renter households in this market, 40 percent have housing cost burden. Further, 28 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 Isanti

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 Isanti, Minnesota

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

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 156 90 percent
Two BR 332 95 percent
Rental Units Below FMR in Isanti, Minnesota

How many affordable rental units are in Isanti?

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

Federal Program Unit Count
Low Income Housing Tax Credit 41
USDA Section 515 Rural Rental Housing 72
Tracked Units by Federal Program in Isanti, Minnesota

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

Income Based Apartments in Isanti, Minnesota

Isanti features 92 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 Isanti, Minnesota

There are 21 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Isanti.

Housing Choice Vouchers in Isanti, Minnesota

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.