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

Discover affordable housing in Wakonda 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.

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Wakonda

611 First Street , Wakonda, South Dakota 57073

payment Subsidized
elderly Senior
payment Income Based
auto_awesome Focus Results:
switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
elderly Senior
payment Income Based
accessibility Accessible
accessible_forward Disability

How To Identify Affordable Housing in Wakonda, South Dakota

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
 Low income apartments with no or short waiting lists.
payment Subsidized
 Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
 Apartments that accept Section 8 vouchers near you
elderly Senior
 Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
 Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
 Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
 Apartments for individuals or families with disabilities.

Vermillion Housing And Redevelopment Commission Section 8 HCV

Open Until Further Notice
touch_app Get the Application

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Wakonda, South Dakota
$18.60/hour
$7.40 (+66%) more than South Dakota minimum wage and $11.35 (+157%) more than the Federal minimum wage.
Learn More About Wakonda, South Dakota Affordable Housing ↓

What HUD offices serve Wakonda, South 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.

Vermillion Housing And Redevelopment Commission
Operates the Section 8 Housing Choice Voucher (HCV) programs for Wakonda, South Dakota.

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

How many renters live in Wakonda, South Dakota?

The City of Wakonda has people living in households.

There are renters living in renter households in this City. Renters make up 13.18 percent of the population living in Wakonda.

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

There are an estimated housing units in the Wakonda area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Wakonda, South Dakota, there are 1.21 rental units.

What is the vacancy rate for rentals in Wakonda?

The rental vacancy rate in Wakonda is 17 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 Wakonda for each bedroom size?

Occupied Rental Units by Size in Wakonda
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 2 5 17 0
Occupied Rental Units by Size in Wakonda

A large number of apartments in Wakonda have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Wakonda

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

Bed Size 2024 Fair Market Rents
Studio $666
One BR $747
Two BR $982
Three BR $1,384
Four BR $1,666
2024 Fair Market Rents in Wakonda, South Dakota

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

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 2 100 percent
Two BR 5 100 percent
Rental Units Below FMR in Wakonda, South Dakota

How many affordable rental units are in Wakonda?

Income Based Apartments in Wakonda, South Dakota

Wakonda features 16 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 Wakonda, South Dakota

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

Housing Choice Vouchers in Wakonda, South Dakota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Wakonda, South Dakota for a two-bedroom apartment is between $884 and $1,080.

Sourced from federal housing data and AffordableHousingOnline.com research.