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Affordable Housing In Bussey
Marion County, Iowa

Housing Authorities that serve Bussey

Housing Authority Programs
Central Iowa Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Bussey, Iowa

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Bussey, Iowa.

Income Based Apartments in Bussey, Iowa

Bussey features 0 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 Bussey, Iowa

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bussey.

Housing Choice Vouchers in Bussey, Iowa

On average, Section 8 Housing Choice vouchers pay Bussey landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Bussey.

The maximum amount a voucher would pay on behalf of a low-income tenant in Bussey, Iowa for a two-bedroom apartment is between $661 and $807.

2020 Bussey, 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 $566 $569 $734 $915 $1,027
Payment Standard Range $509 to $623 $512 to $626 $661 to $807 $824 to $1,007 $924 to $1,130

Sourced from federal housing data and AffordableHousingOnline.com research.

Bussey, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 26%
Average Renter Household Size 2.27
Average Household Size 2.41
Median Household Income $36,250 ±$12,664
Median Rent $473 ±$83
Percentage Of Renters Overburdened 11.54% ± 27.71pp
Total Population 482

Population and Household Demographics

Bussey is a city in Marion County, Iowa with a population of 482. There are 200 households in the city with an average household size of 2.41 persons. 26% of households in Bussey are renters.

Income and Rent Overburden in Bussey

The median gross income for households in Bussey is $36,250 a year, or $3,021 a month. The median rent for the city is $473 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bussey, a household making less than $1,577 a month would be considered overburdened when renting an apartment at or above the median rent. 11.54% of households who rent are overburdened in Bussey.

Area Median Income In Bussey

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 Bussey, the AMI is calculated from all households within Marion County.

In Bussey, HUD calculates the Area Median Income for a family of four as $76,400

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 Bussey

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 Bussey

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,050 $18,350 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $26,750 $30,600 $34,400 $38,200 $41,300 $44,350 $47,400 $50,450
80% of Median $42,800 $48,900 $55,000 $61,100 $66,000 $70,900 $75,800 $80,700