Low Income Apartments and Affordable Housing For Rent in Medicine Lake, MT

Discover affordable housing in Medicine Lake 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.

Lake Apartments

116 Main St, Medicine Lake, Montana 59247

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Medicine Lake, Montana
$17.14/hour
$13.14 (+329%) more than Montana minimum wage and $9.89 (+136%) more than the Federal minimum wage.
Learn More About Medicine Lake, Montana Affordable Housing ↓

What HUD offices serve Medicine Lake, Montana?

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) programs for Medicine Lake, Montana.

Go to the Montana Public Housing and Low-Income Apartments Waiting Lists page for openings near Medicine Lake.

How many renters live in Medicine Lake, Montana?

The City of Medicine Lake has 206 people living in 116 households.

There are 63 renters living in 37 renter households in this City. Renters make up 30.58 percent of the population living in Medicine Lake.

What is the rental market like in Medicine Lake, Montana?

There are an estimated 141 housing units in the Medicine Lake area. Of these, 42 units are rental homes, making up 30 percent of the housing market. For every renter household in Medicine Lake, Montana, there are 1 rental units.

What is the vacancy rate for rentals in Medicine Lake?

The rental vacancy rate in Medicine Lake is 12 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 Medicine Lake for each bedroom size?

Occupied Rental Units by Size in Medicine Lake
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 13 4 18 2
Occupied Rental Units by Size in Medicine Lake

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

Among renter households in this market, 41 percent have housing cost burden. Further, 16 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 Medicine Lake

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $658 to $1,205. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $658
One BR $806
Two BR $905
Three BR $1,201
Four BR $1,205
2024 Fair Market Rents in Medicine Lake, Montana

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

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 62 percent
Two BR 2 50 percent
Rental Units Below FMR in Medicine Lake, Montana

How many affordable rental units are in Medicine Lake?

There are a variety of federal affordable housing programs serving households in Medicine Lake, Montana including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 4
Tracked Units by Federal Program in Medicine Lake, Montana

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

Income Based Apartments in Medicine Lake, Montana

Medicine Lake features 0 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 Medicine Lake, Montana

There are 4 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Medicine Lake.

Housing Choice Vouchers in Medicine Lake, Montana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Medicine Lake, Montana for a two-bedroom apartment is between $815 and $996.

Sourced from federal housing data and AffordableHousingOnline.com research.