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

Discover affordable housing in Wayland 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.

Heritage Village I

425 E Maple St, Wayland, Michigan 49348

Heritage Village II CO Gardner Mgmt

424 E Elm St, Wayland, Michigan 49348

Westbury Apartments

201 Hickory Ct, Wayland, Michigan 49348

Sawmill Estates Senior

1185 Eagle Dr, Wayland, Michigan 49348

Heritage Vlg III

428 E. Elm Street, Wayland, Michigan

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Wayland, Michigan
$20.85/hour
$10.52 (+102%) more than Michigan minimum wage and $13.60 (+188%) more than the Federal minimum wage.
Learn More About Wayland, Michigan Affordable Housing ↓

How many renters live in Wayland, Michigan?

The City of Wayland has 4,411 people living in 1,784 households.

There are 1,194 renters living in 584 renter households in this City. Renters make up 27.07 percent of the population living in Wayland.

What is the rental market like in Wayland, Michigan?

There are an estimated 1,832 housing units in the Wayland area. Of these, 584 units are rental homes, making up 32 percent of the housing market. For every renter household in Wayland, Michigan, there are 1 rental units.

What is the vacancy rate for rentals in Wayland?

The rental vacancy rate in Wayland is 0 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 Wayland for each bedroom size?

Occupied Rental Units by Size in Wayland
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 171 286 87 40
Occupied Rental Units by Size in Wayland

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

Among renter households in this market, 33 percent have housing cost burden. Further, 5 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 Wayland

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $832 to $1,466. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $832
One BR $838
Two BR $1,101
Three BR $1,427
Four BR $1,466
2024 Fair Market Rents in Wayland, Michigan

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

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 57 33 percent
Two BR 181 63 percent
Rental Units Below FMR in Wayland, Michigan

How many affordable rental units are in Wayland?

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

Federal Program Unit Count
Low Income Housing Tax Credit 113
USDA Section 515 Rural Rental Housing 84
Tracked Units by Federal Program in Wayland, Michigan

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

Income Based Apartments in Wayland, Michigan

Wayland features 112 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 Wayland, Michigan

There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wayland.

Housing Choice Vouchers in Wayland, Michigan

On average, Section 8 Housing Choice vouchers pay Wayland landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Wayland.

The maximum amount a voucher would pay on behalf of a low-income tenant in Wayland, Michigan for a two-bedroom apartment is between $991 and $1,211.

Sourced from federal housing data and AffordableHousingOnline.com research.