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

Discover affordable housing in Foley 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.

Catherine Square Apartments

111 4th Ave S, Foley, Minnesota 56329

Foley Square Apartments

153 4th Ave S, Foley, Minnesota 56329

Dewey Place

455 Dewey St, Foley, Minnesota 56329

Pine Street Apartments

280 Pine St, Foley, Minnesota 56329

Falconshire Apartments

150 Main St, Foley, Minnesota 56329

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Foley, Minnesota
$21.88/hour
$13.03 (+147%) more than Minnesota minimum wage and $14.63 (+202%) more than the Federal minimum wage.
Learn More About Foley, Minnesota Affordable Housing ↓

What HUD offices serve Foley, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Foley, Minnesota.

Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Foley.

How many renters live in Foley, Minnesota?

The City of Foley has 2,695 people living in 965 households.

There are 671 renters living in 304 renter households in this City. Renters make up 24.9 percent of the population living in Foley.

What is the rental market like in Foley, Minnesota?

There are an estimated 1,006 housing units in the Foley area. Of these, 304 units are rental homes, making up 30 percent of the housing market. For every renter household in Foley, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Foley?

The rental vacancy rate in Foley 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 Foley for each bedroom size?

Occupied Rental Units by Size in Foley
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
3 124 86 44 0
Occupied Rental Units by Size in Foley

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

Among renter households in this market, 45 percent have housing cost burden. Further, 18 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 Foley

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $877 to $1,820. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $877
One BR $906
Two BR $1,155
Three BR $1,531
Four BR $1,820
2024 Fair Market Rents in Foley, Minnesota

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

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 2 67 percent
One BR 109 88 percent
Two BR 51 59 percent
Rental Units Below FMR in Foley, Minnesota

How many affordable rental units are in Foley?

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

Federal Program Unit Count
Low Income Housing Tax Credit 44
Section 8 Project-Based Rental Assistance 36
USDA Section 515 Rural Rental Housing 45
Tracked Units by Federal Program in Foley, Minnesota

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

Income Based Apartments in Foley, Minnesota

Foley features 81 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 Foley, Minnesota

There are 20 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Foley.

Housing Choice Vouchers in Foley, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Foley, Minnesota for a two-bedroom apartment is between $1,040 and $1,271.

Sourced from federal housing data and AffordableHousingOnline.com research.