Low Income Apartments and Affordable Housing For Rent in Three Lakes, WI

Discover affordable housing in Three Lakes 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.

Old Orchard Estates Apartments

6972 Orchard Ln, Three Lakes, Wisconsin 54562

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 Three Lakes, Wisconsin
$18.75/hour
$11.50 (+159%) more than Wisconsin minimum wage and $11.50 (+159%) more than the Federal minimum wage.
Learn More About Three Lakes, Wisconsin Affordable Housing ↓

What HUD offices serve Three Lakes, 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 Three Lakes, Wisconsin.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Three Lakes, Wisconsin.

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

How many renters live in Three Lakes, Wisconsin?

The City of Three Lakes has 433 people living in 218 households.

There are 98 renters living in 50 renter households in this City. Renters make up 22.63 percent of the population living in Three Lakes.

What is the rental market like in Three Lakes, Wisconsin?

There are an estimated 371 housing units in the Three Lakes area. Of these, 80 units are rental homes, making up 22 percent of the housing market. For every renter household in Three Lakes, Wisconsin, there are 2 rental units.

What is the vacancy rate for rentals in Three Lakes?

The rental vacancy rate in Three Lakes is 38 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 Three Lakes for each bedroom size?

Occupied Rental Units by Size in Three Lakes
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 10 15 10 0
Occupied Rental Units by Size in Three Lakes

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

Among renter households in this market, 68 percent have housing cost burden. Further, 10 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 Three Lakes

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $694 to $1,437. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $694
One BR $807
Two BR $990
Three BR $1,197
Four BR $1,437
2024 Fair Market Rents in Three Lakes, Wisconsin

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

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 6 60 percent
Two BR 15 100 percent
Rental Units Below FMR in Three Lakes, Wisconsin

How many affordable rental units are in Three Lakes?

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

Federal Program Unit Count
Low Income Housing Tax Credit 24
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Three Lakes, Wisconsin

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

Income Based Apartments in Three Lakes, Wisconsin

Three Lakes features 24 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 Three Lakes, Wisconsin

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

Housing Choice Vouchers in Three Lakes, Wisconsin

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Three Lakes, Wisconsin for a two-bedroom apartment is between $891 and $1,089.

Sourced from federal housing data and AffordableHousingOnline.com research.