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Affordable Housing In Ames
Story County, Iowa

7 Low Income Apartment Communities In Ames

Eastwood Apartments

420 E 7th St
Ames, Iowa

Keystone and Stonehaven Apartments

3115 Roy Key Ave
Ames, Iowa
Elderly Supportive Housing

Meadow Wood of Ames

4350 Maricopa Dr
Ames, Iowa

Laverne Apartments

919 S 16th St
Ames, Iowa

Windsor Pointe

3709 Tripp St
Ames, Iowa

The Rose of Ames

1315 Coconino Rd
Ames, Iowa

Prairie View Apartments

2330 Prairie View West
Ames, Iowa
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Housing Authorities that serve Ames

Housing Authority Programs
City of Ames -
Central Iowa Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Ames, Iowa

There are 7 low income housing apartment communities offering 549 affordable apartments for rent in Ames, Iowa.

Income Based Apartments in Ames, Iowa

Ames features 170 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 Ames, Iowa

There are 379 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ames.

Housing Choice Vouchers in Ames, Iowa

On average, Section 8 Housing Choice vouchers pay Ames landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Ames.

The maximum amount a voucher would pay on behalf of a low-income tenant in Ames, Iowa for a two-bedroom apartment is between $813 and $993.

2021 Ames, 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
Fair Market Rent $749 $752 $903 $1,282 $1,481
Payment Standard Range $674 to $824 $677 to $827 $813 to $993 $1,154 to $1,410 $1,333 to $1,629

Sourced from federal housing data and research.

Ames, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 7
Total Low Income Apartments 549
Total Housing Units with Rental Assistance 170
Percentage of Housing Units Occupied By Renters 59.02%
Average Renter Household Size 2.16
Average Household Size 2.25
Median Household Income $41,616 ±$2,388
Median Rent $785 ±$17
Percentage Of Renters Overburdened 57.76% ± 4.13pp
Total Population 62,815

Population and Household Demographics

Ames is a city in Story County, Iowa with a population of 62,815. There are 24,004 households in the city with an average household size of 2.25 persons. 59.02% of households in Ames are renters.

Income and Rent Overburden in Ames

The median gross income for households in Ames is $41,616 a year, or $3,468 a month. The median rent for the city is $785 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ames, a household making less than $2,617 a month would be considered overburdened when renting an apartment at or above the median rent. 57.76% of households who rent are overburdened in Ames.

Area Median Income In Ames

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 Ames, the AMI is calculated from all households within Story County.

In Ames, HUD calculates the Area Median Income for a family of four as $104,300

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 Ames

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 Ames

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $19,900 $22,750 $25,600 $28,400 $30,700 $35,160 $39,640 $44,120
50% of Median $33,150 $37,850 $42,600 $47,300 $51,100 $54,900 $58,700 $62,450
80% of Median $53,000 $60,600 $68,150 $75,700 $81,800 $87,850 $93,900 $99,950