Low Income Apartments and Affordable Housing For Rent in Finley, ND

Discover affordable housing in Finley 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.

Finley Housing Corp

119 Main St, Finley, North Dakota 58230

Finley Housing Corp

300 Lexington Ave, Finley, North Dakota 58230

Open Until Further Notice

Reported On February 23rd, 2024 by Robin Lovelace

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Finley, North Dakota
$16.27/hour
$9.02 (+124%) more than North Dakota minimum wage and $9.02 (+124%) more than the Federal minimum wage.
Learn More About Finley, North Dakota Affordable Housing ↓

What HUD offices serve Finley, North Dakota?

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 programs for Finley, North Dakota.

Go to the North Dakota Public Housing and Low-Income Apartments Waiting Lists page for openings near Finley.

How many renters live in Finley, North Dakota?

The City of Finley has 291 people living in 133 households.

There are 75 renters living in 36 renter households in this City. Renters make up 25.77 percent of the population living in Finley.

What is the rental market like in Finley, North Dakota?

There are an estimated 198 housing units in the Finley area. Of these, 53 units are rental homes, making up 27 percent of the housing market. For every renter household in Finley, North Dakota, there are 1 rental units.

What is the vacancy rate for rentals in Finley?

The rental vacancy rate in Finley is 32 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 Finley for each bedroom size?

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

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

Among renter households in this market, 8 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 Finley

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $688 to $1,458. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $688
One BR $692
Two BR $859
Three BR $1,211
Four BR $1,458
2024 Fair Market Rents in Finley, North Dakota

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

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 6 75 percent
Two BR 14 70 percent
Rental Units Below FMR in Finley, North Dakota

How many affordable rental units are in Finley?

There are a variety of federal affordable housing programs serving households in Finley, North Dakota including the following:

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 36
Tracked Units by Federal Program in Finley, North Dakota

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

Income Based Apartments in Finley, North Dakota

Finley features 18 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 Finley, North Dakota

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

Housing Choice Vouchers in Finley, North Dakota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Finley, North Dakota for a two-bedroom apartment is between $773 and $945.

Sourced from federal housing data and AffordableHousingOnline.com research.