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

Discover affordable housing in Waterloo where there are 4+ 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.

Monroe Street Apartments

217 N. Monroe Street, Waterloo, Wisconsin 53594

Waterloo Green Apts

620 Knowlton St, Waterloo, Wisconsin

Wisconsin

1085 Jaystone Ter, Waterloo, Wisconsin 53594

Waterloo Meadows

580 Knowlton St, Waterloo, Wisconsin 53594

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 Waterloo, Wisconsin
$20.09/hour
$12.84 (+177%) more than Wisconsin minimum wage and $12.84 (+177%) more than the Federal minimum wage.
Learn More About Waterloo, Wisconsin Affordable Housing ↓

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

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

How many renters live in Waterloo, Wisconsin?

The City of Waterloo has 3,511 people living in 1,557 households.

There are 949 renters living in 486 renter households in this City. Renters make up 27.03 percent of the population living in Waterloo.

What is the rental market like in Waterloo, Wisconsin?

There are an estimated 1,617 housing units in the Waterloo area. Of these, 546 units are rental homes, making up 34 percent of the housing market. For every renter household in Waterloo, Wisconsin, there are 1 rental units.

What is the vacancy rate for rentals in Waterloo?

The rental vacancy rate in Waterloo is 11 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 Waterloo for each bedroom size?

Occupied Rental Units by Size in Waterloo
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 92 366 28 0
Occupied Rental Units by Size in Waterloo

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

Among renter households in this market, 43 percent have housing cost burden. Further, 29 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 Waterloo

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $719 to $1,420. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $719
One BR $812
Two BR $1,061
Three BR $1,415
Four BR $1,420
2024 Fair Market Rents in Waterloo, Wisconsin

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

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 23 25 percent
Two BR 260 71 percent
Rental Units Below FMR in Waterloo, Wisconsin

How many affordable rental units are in Waterloo?

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

Federal Program Unit Count
Low Income Housing Tax Credit 29
Tracked Units by Federal Program in Waterloo, Wisconsin

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

Income Based Apartments in Waterloo, Wisconsin

Waterloo 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 Waterloo, Wisconsin

There are 51 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Waterloo.

Housing Choice Vouchers in Waterloo, Wisconsin

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Waterloo, Wisconsin for a two-bedroom apartment is between $955 and $1,167.

Sourced from federal housing data and AffordableHousingOnline.com research.