Low Income Apartments and Affordable Housing For Rent in Boone County, IA

Discover affordable housing in Boone County where there are 10+ 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.

Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Boone County, Iowa
$17.05/hour
$9.80 (+135%) more than Iowa minimum wage and $9.80 (+135%) more than the Federal minimum wage.
Learn More About Boone County, Iowa Affordable Housing ↓

What HUD offices serve Boone County, 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 programs for Boone County, Iowa.

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

How many renters live in Boone County, Iowa?

The County of Boone County has 26,700 people living in 10,893 households.

There are 4,707 renters living in 2,217 renter households in this County. Renters make up 17.63 percent of the population living in Boone County.

What is the rental market like in Boone County, Iowa?

There are an estimated 11,950 housing units in the Boone County area. Of these, 2,497 units are rental homes, making up 21 percent of the housing market. For every renter household in Boone County, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Boone County?

The rental vacancy rate in Boone County is 7 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 Boone County for each bedroom size?

Occupied Rental Units by Size in Boone County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
53 619 850 512 157
Occupied Rental Units by Size in Boone County

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

Among renter households in this market, 33 percent have housing cost burden. Further, 13 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 Boone County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $614 to $1,348. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $614
One BR $685
Two BR $900
Three BR $1,268
Four BR $1,348
2024 Fair Market Rents in Boone County, Iowa

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

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 33 62 percent
One BR 329 53 percent
Two BR 451 53 percent
Rental Units Below FMR in Boone County, Iowa

How many affordable rental units are in Boone County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 136
Public Housing 50
Section 8 Project-Based Rental Assistance 35
USDA Section 515 Rural Rental Housing 79
Tracked Units by Federal Program in Boone County, Iowa

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

Income Based Apartments in Boone County, Iowa

Boone County features 259 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 Boone County, Iowa

There are 154 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Boone County.

Housing Choice Vouchers in Boone County, Iowa

On average, Section 8 Housing Choice vouchers pay Boone County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Boone County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Boone County, Iowa for a two-bedroom apartment is between $810 and $990.

Sourced from federal housing data and AffordableHousingOnline.com research.