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

Discover affordable housing in Askov where there are 3+ 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.

Vossevangen II Apartments

3508 Vossevangen Way, Askov, Minnesota 55704

Vossevangen I Apartments

3520 Vossevangen Way, Askov, Minnesota 55704

Ferndale Estates

6313 Pionervej, Askov, Minnesota 55704

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Askov, Minnesota
$21.70/hour
$12.85 (+145%) more than Minnesota minimum wage and $14.45 (+199%) more than the Federal minimum wage.
Learn More About Askov, Minnesota Affordable Housing ↓

How many renters live in Askov, Minnesota?

The City of Askov has 342 people living in 170 households.

There are 93 renters living in 60 renter households in this City. Renters make up 27.19 percent of the population living in Askov.

What is the rental market like in Askov, Minnesota?

There are an estimated 192 housing units in the Askov area. Of these, 64 units are rental homes, making up 33 percent of the housing market. For every renter household in Askov, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Askov?

The rental vacancy rate in Askov is 6 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 Askov for each bedroom size?

Occupied Rental Units by Size in Askov
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 43 9 3 5
Occupied Rental Units by Size in Askov

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

Among renter households in this market, 55 percent have housing cost burden. Further, 17 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 Askov

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $866 to $1,551. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $866
One BR $872
Two BR $1,146
Three BR $1,393
Four BR $1,551
2024 Fair Market Rents in Askov, Minnesota

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

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 39 91 percent
Two BR 7 78 percent
Rental Units Below FMR in Askov, Minnesota

How many affordable rental units are in Askov?

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

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 12
USDA Section 515 Rural Rental Housing 30
Tracked Units by Federal Program in Askov, Minnesota

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

Income Based Apartments in Askov, Minnesota

Askov features 46 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 Askov, Minnesota

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

Housing Choice Vouchers in Askov, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Askov, Minnesota for a two-bedroom apartment is between $1,031 and $1,261.

Sourced from federal housing data and AffordableHousingOnline.com research.