What HUD offices serve Atlantic, 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.
Go to the Iowa Public Housing and Low-Income Apartments Waiting Lists page for openings near Atlantic.
How many renters live in Atlantic, Iowa?
The City of Atlantic has 6,770 people living in 3,138 households.
There are 2,082 renters living in 1,169 renter households in this City. Renters make up 30.75 percent of the population living in Atlantic.
What is the rental market like in Atlantic, Iowa?
There are an estimated 3,440 housing units in the Atlantic area. Of these, 1,339 units are rental homes, making up 39 percent of the housing market. For every renter household in Atlantic, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Atlantic?
The rental vacancy rate in Atlantic is 13 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 Atlantic for each bedroom size?
Occupied Rental Units by Size in Atlantic
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 39 | 292 | 435 | 312 | 72 |
Occupied Rental Units by Size in Atlantic
A large number of apartments in Atlantic 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 Atlantic are overburdened by housing costs?
Among renter households in this market, 52 percent have housing cost burden. Further, 26 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 Atlantic
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,342. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $630 |
| One BR | $697 |
| Two BR | $862 |
| Three BR | $1,163 |
| Four BR | $1,342 |
2024 Fair Market Rents in Atlantic, Iowa
How many units are rented at Fair Market Rent (FMR) in Atlantic?
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 | 35 | 90 percent |
| One BR | 248 | 85 percent |
| Two BR | 338 | 78 percent |
Rental Units Below FMR in Atlantic, Iowa
How many affordable rental units are in Atlantic?
There are a variety of federal affordable housing programs serving households in Atlantic, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 52 |
| Section 8 Project-Based Rental Assistance | 29 |
| USDA Section 515 Rural Rental Housing | 52 |
Tracked Units by Federal Program in Atlantic, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Atlantic, Iowa
Atlantic features 117 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 Atlantic, Iowa
There are 44 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Atlantic.
Housing Choice Vouchers in Atlantic, Iowa
On average, Section 8 Housing Choice vouchers pay Atlantic landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Atlantic.
The maximum amount a voucher would pay on behalf of a low-income tenant in Atlantic, Iowa for a two-bedroom apartment is between $776 and $948.
Sourced from federal housing data and AffordableHousingOnline.com research.
