What HUD offices serve Cedar Falls, 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 Cedar Falls.
How many renters live in Cedar Falls, Iowa?
The City of Cedar Falls has 40,686 people living in 15,446 households.
There are 13,218 renters living in 5,787 renter households in this City. Renters make up 32.49 percent of the population living in Cedar Falls.
What is the rental market like in Cedar Falls, Iowa?
There are an estimated 16,587 housing units in the Cedar Falls area. Of these, 6,249 units are rental homes, making up 38 percent of the housing market. For every renter household in Cedar Falls, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Cedar Falls?
The rental vacancy rate in Cedar Falls 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 Cedar Falls for each bedroom size?
Occupied Rental Units by Size in Cedar Falls
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 207 | 946 | 2,402 | 913 | 1,110 |
Occupied Rental Units by Size in Cedar Falls
A large number of apartments in Cedar Falls 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 Cedar Falls are overburdened by housing costs?
Among renter households in this market, 56 percent have housing cost burden. Further, 33 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 Cedar Falls
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $640 to $1,602. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $640 |
| One BR | $737 |
| Two BR | $944 |
| Three BR | $1,250 |
| Four BR | $1,602 |
2024 Fair Market Rents in Cedar Falls, Iowa
How many units are rented at Fair Market Rent (FMR) in Cedar Falls?
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 | 66 | 32 percent |
| One BR | 310 | 33 percent |
| Two BR | 655 | 27 percent |
Rental Units Below FMR in Cedar Falls, Iowa
How many affordable rental units are in Cedar Falls?
There are a variety of federal affordable housing programs serving households in Cedar Falls, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 170 |
| Section 8 Project-Based Rental Assistance | 191 |
Tracked Units by Federal Program in Cedar Falls, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Cedar Falls, Iowa
Cedar Falls features 190 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 Cedar Falls, Iowa
There are 128 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cedar Falls.
Housing Choice Vouchers in Cedar Falls, Iowa
On average, Section 8 Housing Choice vouchers pay Cedar Falls landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Cedar Falls.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cedar Falls, Iowa for a two-bedroom apartment is between $850 and $1,038.
Sourced from federal housing data and AffordableHousingOnline.com research.
