Affordable Housing In Agency
Wapello County, Iowa

1 Low Income Apartment Communities In Agency

Agency Housing Authority

307 North Ann
Agency, Iowa
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Housing Authorities that serve Agency

Housing Authority Programs
Area XV Multi-County Housing Agency Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Agency, Iowa

There are 1 low income housing apartment communities offering 21 affordable apartments for rent in Agency, Iowa.

Income Based Apartments in Agency, Iowa

Agency features 21 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 Agency, Iowa

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

Housing Choice Vouchers in Agency, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Agency, Iowa for a two-bedroom apartment is between $683 and $835.

2021 Agency, Iowa Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Agency, Iowa Fair Market Rent $563 $576 $759 $967 $1,134
Agency, Iowa Payment Standard Range $507 to $619 $518 to $634 $683 to $835 $870 to $1,064 $1,021 to $1,247

Sourced from federal housing data and research.

Agency, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 21
Total Housing Units with Rental Assistance 21
Percentage of Housing Units Occupied By Renters 24.5%
Average Renter Household Size 2.01
Average Household Size 2.17
Median Household Income $37,857 ±$5,169
Median Rent $505 ±$52
Percentage Of Renters Overburdened 25.68% ± 17pp
Total Population 655

Population and Household Demographics

Agency is a city in Wapello County, Iowa with a population of 655. There are 302 households in the city with an average household size of 2.17 persons. 24.5% of households in Agency are renters.

Income and Rent Overburden in Agency

The median gross income for households in Agency is $37,857 a year, or $3,155 a month. The median rent for the city is $505 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Agency, a household making less than $1,683 a month would be considered overburdened when renting an apartment at or above the median rent. 25.68% of households who rent are overburdened in Agency.

Area Median Income In Agency

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Agency, the AMI is calculated from all households within Wapello County.

In Agency, HUD calculates the Area Median Income for a family of four as $60,000

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Agency

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Agency

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Agency AMI may qualify for rental assistance programs that target Extremely Low Income households.
$15,100 $17,420 $21,960 $26,500 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Agency AMI may qualify for rental assistance programs that target Very Low Income households.
$25,150 $28,750 $32,350 $35,900 $38,800 $41,650 $44,550 $47,400
80% AMI Income Limits
Renters earning up to 80% of the Agency AMI may qualify for rental assistance programs that target Low Income households.
$40,250 $46,000 $51,750 $57,450 $62,050 $66,650 $71,250 $75,850