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

Discover affordable housing in Verndale 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.

Village Green (Verndale)

101 S Thompson Street, Verndale, Minnesota

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Verndale, Minnesota
$18.45/hour
$9.60 (+108%) more than Minnesota minimum wage and $11.20 (+154%) more than the Federal minimum wage.
Learn More About Verndale, Minnesota Affordable Housing ↓

How many renters live in Verndale, Minnesota?

The City of Verndale has 480 people living in 249 households.

There are 117 renters living in 71 renter households in this City. Renters make up 24.38 percent of the population living in Verndale.

What is the rental market like in Verndale, Minnesota?

There are an estimated 271 housing units in the Verndale area. Of these, 78 units are rental homes, making up 29 percent of the housing market. For every renter household in Verndale, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Verndale?

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

Occupied Rental Units by Size in Verndale
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 8 35 20 4
Occupied Rental Units by Size in Verndale

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

Among renter households in this market, 27 percent have housing cost burden. Further, 3 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 Verndale

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $660 to $1,297. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $660
One BR $756
Two BR $974
Three BR $1,178
Four BR $1,297
2024 Fair Market Rents in Verndale, Minnesota

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

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 8 100 percent
Two BR 33 94 percent
Rental Units Below FMR in Verndale, Minnesota

How many affordable rental units are in Verndale?

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

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 9
Tracked Units by Federal Program in Verndale, Minnesota

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

Income Based Apartments in Verndale, Minnesota

Verndale features 9 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 Verndale, Minnesota

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

Housing Choice Vouchers in Verndale, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Verndale, Minnesota for a two-bedroom apartment is between $877 and $1,071.

Sourced from federal housing data and AffordableHousingOnline.com research.