Low Income Apartments and Affordable Housing For Rent in Lake Odessa, MI

Discover affordable housing in Lake Odessa where there are 1+ 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.

Lake Manor Apartments

1059 Emerson St, Lake Odessa, Michigan 48849

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lake Odessa, Michigan
$20.98/hour
$10.65 (+103%) more than Michigan minimum wage and $13.73 (+189%) more than the Federal minimum wage.
Learn More About Lake Odessa, Michigan Affordable Housing ↓

What HUD offices serve Lake Odessa, 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 Lake Odessa, Michigan.

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

How many renters live in Lake Odessa, Michigan?

The City of Lake Odessa has 2,129 people living in 757 households.

There are 451 renters living in 174 renter households in this City. Renters make up 21.18 percent of the population living in Lake Odessa.

What is the rental market like in Lake Odessa, Michigan?

There are an estimated 825 housing units in the Lake Odessa area. Of these, 191 units are rental homes, making up 23 percent of the housing market. For every renter household in Lake Odessa, Michigan, there are 1 rental units.

What is the vacancy rate for rentals in Lake Odessa?

The rental vacancy rate in Lake Odessa is 9 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 Lake Odessa for each bedroom size?

Occupied Rental Units by Size in Lake Odessa
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
36 48 50 15 19
Occupied Rental Units by Size in Lake Odessa

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

Among renter households in this market, 41 percent have housing cost burden. Further, 20 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 Lake Odessa

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $795 to $1,683. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $795
One BR $843
Two BR $1,108
Three BR $1,369
Four BR $1,683
2024 Fair Market Rents in Lake Odessa, Michigan

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

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 25 69 percent
One BR 45 94 percent
Two BR 36 72 percent
Rental Units Below FMR in Lake Odessa, Michigan

How many affordable rental units are in Lake Odessa?

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

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 56
Tracked Units by Federal Program in Lake Odessa, Michigan

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

Income Based Apartments in Lake Odessa, Michigan

Lake Odessa 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 Lake Odessa, Michigan

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Odessa.

Housing Choice Vouchers in Lake Odessa, Michigan

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Odessa, Michigan for a two-bedroom apartment is between $997 and $1,219.

Sourced from federal housing data and AffordableHousingOnline.com research.