What HUD offices serve Big Falls, Minnesota?
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.
Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Big Falls.
How many renters live in Big Falls, Minnesota?
The City of Big Falls has 153 people living in 102 households.
There are 26 renters living in 26 renter households in this City. Renters make up 16.99 percent of the population living in Big Falls.
What is the rental market like in Big Falls, Minnesota?
There are an estimated 154 housing units in the Big Falls area. Of these, 36 units are rental homes, making up 23 percent of the housing market. For every renter household in Big Falls, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Big Falls?
The rental vacancy rate in Big Falls is 25 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 Big Falls for each bedroom size?
Occupied Rental Units by Size in Big Falls
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 26 | 0 | 0 | 0 |
Occupied Rental Units by Size in Big Falls
A large number of apartments in Big Falls 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 Big Falls are overburdened by housing costs?
Among renter households in this market, 23 percent have housing cost burden. Further, 0 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 Big Falls
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $613 to $1,309. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $613 |
| One BR | $689 |
| Two BR | $905 |
| Three BR | $1,141 |
| Four BR | $1,309 |
2024 Fair Market Rents in Big Falls, Minnesota
How many units are rented at Fair Market Rent (FMR) in Big Falls?
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 | 22 | 85 percent |
Rental Units Below FMR in Big Falls, Minnesota
How many affordable rental units are in Big Falls?
There are a variety of federal affordable housing programs serving households in Big Falls, Minnesota including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 32 |
Tracked Units by Federal Program in Big Falls, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Big Falls, Minnesota
Big Falls features 12 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 Big Falls, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Big Falls.
Housing Choice Vouchers in Big Falls, Minnesota
On average, Section 8 Housing Choice vouchers pay Big Falls landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Big Falls.
The maximum amount a voucher would pay on behalf of a low-income tenant in Big Falls, Minnesota for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
