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

Discover affordable housing in Proctor where there are 2+ 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.

Railview Apartments

1015 2nd Ave, Proctor, Minnesota 55810

Hillside Garden

419 7th St, Proctor, Minnesota 55810

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Proctor, Minnesota
$21.08/hour
$12.23 (+138%) more than Minnesota minimum wage and $13.83 (+191%) more than the Federal minimum wage.
Learn More About Proctor, Minnesota Affordable Housing ↓

How many renters live in Proctor, Minnesota?

The City of Proctor has 3,113 people living in 1,242 households.

There are 545 renters living in 327 renter households in this City. Renters make up 17.51 percent of the population living in Proctor.

What is the rental market like in Proctor, Minnesota?

There are an estimated 1,367 housing units in the Proctor area. Of these, 352 units are rental homes, making up 26 percent of the housing market. For every renter household in Proctor, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Proctor?

The rental vacancy rate in Proctor is 7 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 Proctor for each bedroom size?

Occupied Rental Units by Size in Proctor
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
64 110 68 48 37
Occupied Rental Units by Size in Proctor

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

Among renter households in this market, 43 percent have housing cost burden. Further, 9 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 Proctor

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $762 to $1,889. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $762
One BR $868
Two BR $1,113
Three BR $1,485
Four BR $1,889
2024 Fair Market Rents in Proctor, Minnesota

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

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 64 100 percent
One BR 77 70 percent
Two BR 28 41 percent
Rental Units Below FMR in Proctor, Minnesota

How many affordable rental units are in Proctor?

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

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 105
Tracked Units by Federal Program in Proctor, Minnesota

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

Income Based Apartments in Proctor, Minnesota

Proctor features 105 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 Proctor, Minnesota

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

Housing Choice Vouchers in Proctor, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Proctor, Minnesota for a two-bedroom apartment is between $1,002 and $1,224.

Sourced from federal housing data and AffordableHousingOnline.com research.