Affordable Housing In Audubon County
Iowa

3 Low Income Apartment Communities In Audubon County

Audubon Friendship

615 Northwestern Ave
Audubon, IA
Subsidized

Exira Home Dev Corp

405 S Carthage St
Exira, IA
Subsidized

Kimballton Comm Housing

206 Esbeck St
Kimballton, IA
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There are 3 low income housing apartment complexes which contain 150 affordable apartments for rent in Audubon County. Many of these rental apartments are income based housing with 132 apartments that set rent based on your income. In Audubon County, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 18 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Audubon County

Housing Authority Programs
Region XII Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Family Self-sufficiency

Guide To Affordable Housing in Audubon County, Iowa

Audubon County, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 150
Total Rent Assisted Apartments 132
Percentage of Housing Units Occupied By Renters 17.6%
Average Renter Household Size 2.16
Total Population 5,869
Housing Units 2,659
Average Household Size 2.15
Median Household Income $46,979 ±$4,662
Median Rent $547 ±$51
Percentage Of Renters Overburdened 21.15% ± 6.94pp

Population and Household Demographics

Audubon County is a County in Iowa with a population of 5,869. There are 2,659 households in the county with an average household size of 2.15 persons. 17.6% of households in Audubon County are renters.

Income and Rent Overburden in Audubon County

The median gross income for households in Audubon County is $46,979 a year, or $3,915 a month. The median rent for the county is $547 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Audubon County, a household making less than $1,823 a month would be considered overburdened when renting an apartment at or above the median rent. 21.15% of households who rent are overburdened in Audubon County.1

Area Median Income In Audubon County

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.

In Audubon County, HUD calculates the Area Median Income for a family of four as $67,400

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 Audubon County

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 Audubon County HUD Rental Assistance in Audubon County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,600 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,300 $27,800 $31,250 $34,700 $37,500 $40,300 $43,050 $45,850
80% of Median $38,850 $44,400 $49,950 $55,500 $59,950 $64,400 $68,850 $73,300

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Audubon County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $24,300 $27,800 $31,250 $34,700 $37,500 $40,300 $43,050 $45,850
60% of Median $29,160 $33,360 $37,500 $41,640 $45,000 $48,360 $51,660 $55,020

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Audubon County is $37,500 a year, or $3,125 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,125 by 30% to get a maximum rent of $938 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $608 $651 $781 $903 $1,008 $1,111
60% $729 $782 $938 $1,083 $1,209 $1,334
Fair Market Rents in Audubon County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$481 $502 $664 $863 $898

Cities In Audubon County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Audubon 1 The HUD funded Public Housing Agency that serves Audubon is the Region XII Regional Housing Authority.
Kimballton 1 The HUD funded Public Housing Agency that serves Kimballton is the Region XII Regional Housing Authority.
Exira 1 The HUD funded Public Housing Agency that serves Exira is the Region XII Regional Housing Authority.
Gray 0 The HUD funded Public Housing Agency that serves Gray is the Region XII Regional Housing Authority.
Brayton 0 The HUD funded Public Housing Agency that serves Brayton is the Region XII Regional Housing Authority.