Affordable Housing In Cerro Gordo County
Iowa

22 Low Income Apartment Communities In Cerro Gordo County

Legacy Manor of Mason City II

3300 9th St SW
Mason City, IA
$375-650
2 BR
55+
HCV Welcome
Market Rate

Regency Apartments

1531 6th Pl SE
Mason City, IA
Subsidized

Lakeland Park Apartments

210 W 10th Ave N
Clear Lake, IA
Subsidized

Autumn Park Apartments ~ Mason City

710 S Pierce Ave
Mason City, IA
Subsidized

Three Links Apartments

1033 19th St SW
Mason City, IA
62+
Accessible
Elderly Supportive Housing
Subsidized

Pilgrim Place

741 S Illinois Ave
Mason City, IA
62+
Accessible
Elderly Supportive Housing
Subsidized

Shalom Towers II

321 4th St NE
Mason City, IA
62+
Accessible
Elderly Supportive Housing
Subsidized

Westside Manor

2401 S Taft Ave
Mason City, IA
Subsidized

Pebble Creek II

190 S Grove
Mason City, IA
HCV Welcome

Grant Village

823 6th St SW
Mason City, IA
Subsidized

Housing Authorities that serve Cerro Gordo County

Housing Authority Programs
North Iowa Regional Housing Authority Public Housing

Other Housing Authorities located in Cerro Gordo County

Housing Authority Programs
Mason City Housing Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Cerro Gordo County, Iowa

There are 22 low income housing apartment communities offering 981 affordable apartments for rent in Cerro Gordo County, Iowa. Cerro Gordo County features 683 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 298 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Cerro Gordo County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Cerro Gordo County, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 22
Total Low Income Apartments 981
Total Housing Units with Rental Assistance 683
Percentage of Housing Units Occupied By Renters 28.96%
Average Renter Household Size 1.83
Average Household Size 2.17
Median Household Income $46,122 ±$1,395
Median Rent $617 ±$19
Percentage Of Renters Overburdened 39.37% ± 5.16pp
Total Population 43,481

Population and Household Demographics

Cerro Gordo County is a County in Iowa with a population of 43,481. There are 19,519 households in the county with an average household size of 2.17 persons. 28.96% of households in Cerro Gordo County are renters.

Income and Rent Overburden in Cerro Gordo County

The median gross income for households in Cerro Gordo County is $46,122 a year, or $3,844 a month. The median rent for the county is $617 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cerro Gordo County, a household making less than $2,057 a month would be considered overburdened when renting an apartment at or above the median rent. 39.37% of households who rent are overburdened in Cerro Gordo County.1

Area Median Income In Cerro Gordo 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 Cerro Gordo County, HUD calculates the Area Median Income for a family of four as $68,900

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 Cerro Gordo 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 Cerro Gordo County HUD Rental Assistance in Cerro Gordo 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
Low Income Housing Tax Credits in Cerro Gordo County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1990 to 2006, 9 low income apartment communities containing 346 rental apartments have been constructed and made affordable to low income persons in Cerro Gordo County by the Low Income Housing Tax Credit Program.

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 Cerro Gordo 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 Cerro Gordo 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 Cerro Gordo 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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$495 $576 $759 $980 $1,187

Cities In Cerro Gordo County

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

City Listings Served By
Mason City 14 The HUD funded Public Housing Agency that serves Mason City is the Mason City Housing Authority.
Clear Lake 5 The HUD funded Public Housing Agency that serves Clear Lake is the North Iowa Regional Housing Authority.
Rockwell 1 The HUD funded Public Housing Agency that serves Rockwell is the North Iowa Regional Housing Authority.
Rockwell City 2 The HUD funded Public Housing Agency that serves Rockwell City is the North Iowa Regional Housing Authority.
Nora Springs 0 The HUD funded Public Housing Agency that serves Nora Springs is the North Iowa Regional Housing Authority.
Burchinal 0 The HUD funded Public Housing Agency that serves Burchinal is the North Iowa Regional Housing Authority.
Plymouth 0 The HUD funded Public Housing Agency that serves Plymouth is the North Iowa Regional Housing Authority.
Portland 0 The HUD funded Public Housing Agency that serves Portland is the North Iowa Regional Housing Authority.
Rock Falls 0 The HUD funded Public Housing Agency that serves Rock Falls is the North Iowa Regional Housing Authority.
Ventura 0 The HUD funded Public Housing Agency that serves Ventura is the North Iowa Regional Housing Authority.
Dougherty 0 The HUD funded Public Housing Agency that serves Dougherty is the North Iowa Regional Housing Authority.
Meservey 0 The HUD funded Public Housing Agency that serves Meservey is the North Iowa Regional Housing Authority.
Swaledale 0 The HUD funded Public Housing Agency that serves Swaledale is the North Iowa Regional Housing Authority.
Thornton 0 The HUD funded Public Housing Agency that serves Thornton is the North Iowa Regional Housing Authority.