Low Income Apartments and Affordable Housing For Rent in Montello, WI

Discover affordable housing in Montello where there are 7+ 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.

Granite Hills Manor

514 Main St, Montello, Wisconsin 53949

Granite City Heights

331 Main St, Montello, Wisconsin 53949

Umos-Montello Cntr

N2912 Hwy 22 S, Montello, Wisconsin

M0181408.200.069, 230 Central

230 Central Ave, Montello, Wisconsin 53949

Fox River Senior Village

210 Town Hall Dr, Montello, Wisconsin 53949

M0181406.112.064, Cap Services

101 Village Sq, Montello, Wisconsin 53949

Rhdc0406 Cap Services

Tba, Montello, Wisconsin 53949

calendar_today Opened: Mar 21
Open Until Further Notice

Reported On March 21st, 2024 by Lorena Bentley

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

What HUD offices serve Montello, Wisconsin?

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 Montello, Wisconsin.

Go to the Wisconsin Public Housing and Low-Income Apartments Waiting Lists page for openings near Montello.

How many renters live in Montello, Wisconsin?

The City of Montello has 1,405 people living in 652 households.

There are 396 renters living in 221 renter households in this City. Renters make up 28.19 percent of the population living in Montello.

What is the rental market like in Montello, Wisconsin?

There are an estimated 846 housing units in the Montello area. Of these, 239 units are rental homes, making up 28 percent of the housing market. For every renter household in Montello, Wisconsin, there are 1 rental units.

What is the vacancy rate for rentals in Montello?

The rental vacancy rate in Montello is 8 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 Montello for each bedroom size?

Occupied Rental Units by Size in Montello
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
4 102 65 40 10
Occupied Rental Units by Size in Montello

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

Among renter households in this market, 44 percent have housing cost burden. Further, 14 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 Montello

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $635 to $1,293. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $635
One BR $689
Two BR $905
Three BR $1,158
Four BR $1,293
2024 Fair Market Rents in Montello, Wisconsin

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

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 4 100 percent
One BR 89 87 percent
Two BR 49 75 percent
Rental Units Below FMR in Montello, Wisconsin

How many affordable rental units are in Montello?

There are a variety of federal affordable housing programs serving households in Montello, Wisconsin including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 54
Section 8 Project-Based Rental Assistance 17
USDA Section 515 Rural Rental Housing 18
Tracked Units by Federal Program in Montello, Wisconsin

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

Income Based Apartments in Montello, Wisconsin

Montello features 26 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 Montello, Wisconsin

There are 50 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Montello.

Housing Choice Vouchers in Montello, Wisconsin

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.