Low Income Apartments and Affordable Housing For Rent in New London, MN

Discover affordable housing in New London 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.

New London Housing

11 1st Avenue Ne, New London, Minnesota

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In New London, Minnesota
$17.73/hour
$8.88 (+100%) more than Minnesota minimum wage and $10.48 (+145%) more than the Federal minimum wage.
Learn More About New London, Minnesota Affordable Housing ↓

What HUD offices serve New London, 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, Moving to Work programs for New London, Minnesota.

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

How many renters live in New London, Minnesota?

The City of New London has 1,193 people living in 490 households.

There are 237 renters living in 133 renter households in this City. Renters make up 19.87 percent of the population living in New London.

What is the rental market like in New London, Minnesota?

There are an estimated 552 housing units in the New London area. Of these, 144 units are rental homes, making up 26 percent of the housing market. For every renter household in New London, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in New London?

The rental vacancy rate in New London is 8 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 New London for each bedroom size?

Occupied Rental Units by Size in New London
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
5 70 42 13 3
Occupied Rental Units by Size in New London

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

Among renter households in this market, 48 percent have housing cost burden. Further, 32 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 New London

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $768 to $1,544. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $768
One BR $773
Two BR $936
Three BR $1,319
Four BR $1,544
2024 Fair Market Rents in New London, Minnesota

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

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 0 100 percent
One BR 23 33 percent
Two BR 16 38 percent
Rental Units Below FMR in New London, Minnesota

How many affordable rental units are in New London?

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

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in New London, Minnesota

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

Income Based Apartments in New London, Minnesota

New London 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 New London, Minnesota

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

Housing Choice Vouchers in New London, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in New London, Minnesota for a two-bedroom apartment is between $842 and $1,030.

Sourced from federal housing data and AffordableHousingOnline.com research.