Affordable Housing In Buchanan County
Iowa

5 Low Income Apartment Communities In Buchanan County

Townhouses of Independence

201 16th Ave NW
Independence, IA
Accepts Vouchers

Community Housing Wildberry Manor

1300 3rd St NW
Independence, IA

Quasqueton Housing

608 E Cedar St
Quasqueton, IA
Subsidized

Operation Threshold - 900 - 914 6th Ave Ne

900 6th Ave NE
Independence, IA
Accepts Vouchers

Wapsie Valley Apartments

200 17th Ave NW
Independence, IA
Subsidized
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Guide To Affordable Housing in Buchanan County, Iowa

There are 5 low income housing apartment communities offering 85 affordable apartments for rent in Buchanan County, Iowa.

Income Based Apartments in Buchanan County, Iowa

Buchanan County features 37 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 Buchanan County, Iowa

There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Buchanan County.

Housing Choice Vouchers in Buchanan County, Iowa

On average, Section 8 Housing Choice vouchers pay Buchanan County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Buchanan County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Buchanan County, Iowa for a two-bedroom apartment is between $626 and $766.

2020 Buchanan County, 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 $479 $541 $696 $939 $943
Payment Standard Range $431 to $527 $487 to $595 $626 to $766 $845 to $1,033 $849 to $1,037

Sourced from federal housing data and AffordableHousingOnline.com research.

Buchanan County, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 85
Total Housing Units with Rental Assistance 37
Percentage of Housing Units Occupied By Renters 20.46%
Average Renter Household Size 2.17
Average Household Size 2.50
Median Household Income $56,150 ±$2,046
Median Rent $629 ±$28
Percentage Of Renters Overburdened 31.56% ± 7.15pp
Total Population 20,998

Population and Household Demographics

Buchanan County is a County in Iowa with a population of 20,998. There are 8,268 households in the county with an average household size of 2.50 persons. 20.46% of households in Buchanan County are renters.

Income and Rent Overburden in Buchanan County

The median gross income for households in Buchanan County is $56,150 a year, or $4,679 a month. The median rent for the county is $629 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Buchanan County, a household making less than $2,097 a month would be considered overburdened when renting an apartment at or above the median rent. 31.56% of households who rent are overburdened in Buchanan County.1

Area Median Income In Buchanan 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 Buchanan County, HUD calculates the Area Median Income for a family of four as $76,600

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 Buchanan 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 Buchanan County HUD Rental Assistance in Buchanan County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,100 $18,400 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $26,850 $30,650 $34,500 $38,300 $41,400 $44,450 $47,500 $50,600
80% of Median $42,950 $49,050 $55,200 $61,300 $66,250 $71,150 $76,050 $80,950

Cities In Buchanan County

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

City Listings Served By
Winthrop 0
Fairbank 0
Independence 4
Quasqueton 1
Lamont 0
Aurora 0
Brandon 0
Hazleton 0
Rowley 0
Stanley 0