How many renters live in Redby, Minnesota?
The City of Redby has 1,228 people living in 287 households.
There are 460 renters living in 85 renter households in this City. Renters make up 37.46 percent of the population living in Redby.
What is the rental market like in Redby, Minnesota?
There are an estimated 296 housing units in the Redby area. Of these, 94 units are rental homes, making up 32 percent of the housing market. For every renter household in Redby, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Redby?
The rental vacancy rate in Redby is 10 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 Redby for each bedroom size?
Occupied Rental Units by Size in Redby
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 16 | 4 | 51 | 14 |
Occupied Rental Units by Size in Redby
A large number of apartments in Redby 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 Redby are overburdened by housing costs?
Among renter households in this market, 60 percent have housing cost burden. Further, 36 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 Redby
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $820 to $1,576. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $820 |
| One BR | $851 |
| Two BR | $1,118 |
| Three BR | $1,352 |
| Four BR | $1,576 |
2024 Fair Market Rents in Redby, Minnesota
How many units are rented at Fair Market Rent (FMR) in Redby?
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 | 16 | 100 percent |
| Two BR | 4 | 100 percent |
Rental Units Below FMR in Redby, Minnesota
How many affordable rental units are in Redby?
There are a variety of federal affordable housing programs serving households in Redby, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 65 |
| Section 811 Supportive Housing for Persons with Disabilities | 5 |
Tracked Units by Federal Program in Redby, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Redby, Minnesota
Redby features 0 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 Redby, Minnesota
There are 35 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Redby.
Housing Choice Vouchers in Redby, Minnesota
On average, Section 8 Housing Choice vouchers pay Redby landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Redby.
The maximum amount a voucher would pay on behalf of a low-income tenant in Redby, Minnesota for a two-bedroom apartment is between $1,006 and $1,230.
Sourced from federal housing data and AffordableHousingOnline.com research.
