Low Income Apartments and Affordable Housing For Rent in Cedar Rapids, NE

Discover affordable housing in Cedar Rapids 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.

Cedar Valley Apartments

613 W Dayton St, Cedar Rapids, Nebraska 68627

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Cedar Rapids, Nebraska
$16.52/hour
$4.52 (+38%) more than Nebraska minimum wage and $9.27 (+128%) more than the Federal minimum wage.
Learn More About Cedar Rapids, Nebraska Affordable Housing ↓

How many renters live in Cedar Rapids, Nebraska?

The City of Cedar Rapids has 585 people living in 212 households.

There are 28 renters living in 15 renter households in this City. Renters make up 4.79 percent of the population living in Cedar Rapids.

What is the rental market like in Cedar Rapids, Nebraska?

There are an estimated 245 housing units in the Cedar Rapids area. Of these, 15 units are rental homes, making up 6 percent of the housing market. For every renter household in Cedar Rapids, Nebraska, there are 1 rental units.

What is the vacancy rate for rentals in Cedar Rapids?

The rental vacancy rate in Cedar Rapids 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 Cedar Rapids for each bedroom size?

Occupied Rental Units by Size in Cedar Rapids
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 0 8 7 0
Occupied Rental Units by Size in Cedar Rapids

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

Among renter households in this market, 33 percent have housing cost burden. Further, 0 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 Cedar Rapids

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $591 to $1,419. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $591
One BR $664
Two BR $872
Three BR $1,150
Four BR $1,419
2024 Fair Market Rents in Cedar Rapids, Nebraska

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

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
Two BR 8 100 percent
Rental Units Below FMR in Cedar Rapids, Nebraska

How many affordable rental units are in Cedar Rapids?

There are a variety of federal affordable housing programs serving households in Cedar Rapids, Nebraska including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 4
Tracked Units by Federal Program in Cedar Rapids, Nebraska

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

Income Based Apartments in Cedar Rapids, Nebraska

Cedar Rapids 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 Cedar Rapids, Nebraska

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

Housing Choice Vouchers in Cedar Rapids, Nebraska

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Cedar Rapids, Nebraska for a two-bedroom apartment is between $785 and $959.

Sourced from federal housing data and AffordableHousingOnline.com research.