Low Income Apartments and Affordable Housing For Rent in Lake County, IN

Discover affordable housing in Lake County where there are 92+ 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.

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lake County, Indiana
$23.75/hour
$16.50 (+228%) more than Indiana minimum wage and $16.50 (+228%) more than the Federal minimum wage.
Learn More About Lake County, Indiana Affordable Housing ↓

What HUD offices serve Lake County, Indiana?

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 Lake County, Indiana.

Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Lake County.

How many renters live in Lake County, Indiana?

The County of Lake County has 499,689 people living in 194,191 households.

There are 135,585 renters living in 56,536 renter households in this County. Renters make up 27.13 percent of the population living in Lake County.

What is the rental market like in Lake County, Indiana?

There are an estimated 217,680 housing units in the Lake County area. Of these, 59,241 units are rental homes, making up 27 percent of the housing market. For every renter household in Lake County, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Lake County?

The rental vacancy rate in Lake County is 4 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 Lake County for each bedroom size?

Occupied Rental Units by Size in Lake County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
937 10,492 26,757 13,297 4,524
Occupied Rental Units by Size in Lake County

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

Among renter households in this market, 41 percent have housing cost burden. Further, 22 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 Lake County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $869 to $1,672. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $869
One BR $1,027
Two BR $1,254
Three BR $1,539
Four BR $1,672
2024 Fair Market Rents in Lake County, Indiana

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

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 357 38 percent
One BR 7,570 72 percent
Two BR 17,455 65 percent
Rental Units Below FMR in Lake County, Indiana

How many affordable rental units are in Lake County?

There are a variety of federal affordable housing programs serving households in Lake County, Indiana including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 3,861
Public Housing 1,165
Section 8 Project-Based Rental Assistance 3,416
Mod Rehab Project-Based Rental Assistance 53
Section 202 Supportive Housing for the Elderly 443
Section 811 Supportive Housing for Persons with Disabilities 109
USDA Section 515 Rural Rental Housing 94
Tracked Units by Federal Program in Lake County, Indiana

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

Income Based Apartments in Lake County, Indiana

Lake County features 6,381 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 Lake County, Indiana

There are 2,863 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake County.

Housing Choice Vouchers in Lake County, Indiana

On average, Section 8 Housing Choice vouchers pay Lake County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Lake County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lake County, Indiana for a two-bedroom apartment is between $1,129 and $1,379.

Sourced from federal housing data and AffordableHousingOnline.com research.