Low Income Apartments and Affordable Housing For Rent in Altoona, IA

Discover affordable housing in Altoona where there are 8+ 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.

Meadow Vista Senior Villas

1806 28th Ave SW, Altoona, Iowa 50009

Meadow Vista Parkside

1806 28th Avenue SW, Altoona, Iowa 50009

Clover Ridge Apartments

858 8th Street SE , Altoona, Iowa 50009

Centennial Place I

720 8th St SE, Altoona, Iowa 50009

Venbury Trail Apartments

900 8th St SW, Altoona, Iowa 50009

Greenway Altoona II

1039 Greenway Ct, Altoona, Iowa

Altoona Meadows

623 17th Ave NW, Altoona, Iowa 50009

The Meadows

619 17th Ave NW, Altoona, Iowa 50009

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Altoona, Iowa
$20.45/hour
$13.20 (+182%) more than Iowa minimum wage and $13.20 (+182%) more than the Federal minimum wage.
Learn More About Altoona, Iowa Affordable Housing ↓

What HUD offices serve Altoona, Iowa?

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), Public Housing, Family Self-Sufficiency, Emergency Housing Voucher (EHV) programs for Altoona, Iowa.

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

How many renters live in Altoona, Iowa?

The City of Altoona has 20,017 people living in 7,526 households.

There are 5,660 renters living in 2,325 renter households in this City. Renters make up 28.28 percent of the population living in Altoona.

What is the rental market like in Altoona, Iowa?

There are an estimated 7,893 housing units in the Altoona area. Of these, 2,490 units are rental homes, making up 32 percent of the housing market. For every renter household in Altoona, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Altoona?

The rental vacancy rate in Altoona is 5 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 Altoona for each bedroom size?

Occupied Rental Units by Size in Altoona
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
55 702 826 531 211
Occupied Rental Units by Size in Altoona

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

Among renter households in this market, 40 percent have housing cost burden. Further, 19 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 Altoona

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $833 to $1,481. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $833
One BR $899
Two BR $1,080
Three BR $1,477
Four BR $1,481
2024 Fair Market Rents in Altoona, Iowa

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

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 0 100 percent
One BR 301 43 percent
Two BR 366 44 percent
Rental Units Below FMR in Altoona, Iowa

How many affordable rental units are in Altoona?

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

Federal Program Unit Count
Low Income Housing Tax Credit 456
USDA Section 515 Rural Rental Housing 44
Tracked Units by Federal Program in Altoona, Iowa

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

Income Based Apartments in Altoona, Iowa

Altoona features 44 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 Altoona, Iowa

There are 432 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Altoona.

Housing Choice Vouchers in Altoona, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Altoona, Iowa for a two-bedroom apartment is between $972 and $1,188.

Sourced from federal housing data and AffordableHousingOnline.com research.