Low Income Apartments and Affordable Housing For Rent in Hoven, SD

Discover affordable housing in Hoven 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.

Hoven Enterprises

48 6th Avenue, Hoven, South Dakota

Sunrise Apts

504 South Davlin Street, Hoven, South Dakota

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Hoven, South Dakota
$18.62/hour
$7.42 (+66%) more than South Dakota minimum wage and $11.37 (+157%) more than the Federal minimum wage.
Learn More About Hoven, South Dakota Affordable Housing ↓

How many renters live in Hoven, South Dakota?

The City of Hoven has 317 people living in 115 households.

There are 49 renters living in 27 renter households in this City. Renters make up 15.46 percent of the population living in Hoven.

What is the rental market like in Hoven, South Dakota?

There are an estimated 150 housing units in the Hoven area. Of these, 27 units are rental homes, making up 18 percent of the housing market. For every renter household in Hoven, South Dakota, there are 1 rental units.

What is the vacancy rate for rentals in Hoven?

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

Occupied Rental Units by Size in Hoven
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 0 16 5 2
Occupied Rental Units by Size in Hoven

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

Among renter households in this market, 15 percent have housing cost burden. Further, 15 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 Hoven

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $666 to $1,309. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $666
One BR $748
Two BR $983
Three BR $1,301
Four BR $1,309
2024 Fair Market Rents in Hoven, South Dakota

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

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 16 100 percent
Rental Units Below FMR in Hoven, South Dakota

How many affordable rental units are in Hoven?

Income Based Apartments in Hoven, South Dakota

Hoven features 20 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 Hoven, South Dakota

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

Housing Choice Vouchers in Hoven, South Dakota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Hoven, South Dakota for a two-bedroom apartment is between $885 and $1,081.

Sourced from federal housing data and AffordableHousingOnline.com research.