Low Income Apartments and Affordable Housing For Rent in Coralville, IA

Discover affordable housing in Coralville where there are 3+ 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.

Coralville Senior Residences

1799 5th St, Coralville, Iowa 52241

Coral Ridge Apartments

915 20th Ave, Coralville, Iowa

Coral North Apartments

2500 Holiday Ct., Coralville, Iowa 52241

calendar_today Opened: Oct 1
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 Coralville, Iowa
$20.49/hour
$13.24 (+183%) more than Iowa minimum wage and $13.24 (+183%) more than the Federal minimum wage.
Learn More About Coralville, Iowa Affordable Housing ↓

What HUD offices serve Coralville, 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, Homeownership Voucher, Family Self-Sufficiency programs for Coralville, Iowa.

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

How many renters live in Coralville, Iowa?

The City of Coralville has 22,494 people living in 9,584 households.

There are 8,221 renters living in 4,415 renter households in this City. Renters make up 36.55 percent of the population living in Coralville.

What is the rental market like in Coralville, Iowa?

There are an estimated 9,987 housing units in the Coralville area. Of these, 4,639 units are rental homes, making up 46 percent of the housing market. For every renter household in Coralville, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Coralville?

The rental vacancy rate in Coralville is 5 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Coralville for each bedroom size?

Occupied Rental Units by Size in Coralville
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
424 904 2,665 291 119
Occupied Rental Units by Size in Coralville

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

Among renter households in this market, 53 percent have housing cost burden. Further, 23 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 Coralville

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $783 to $1,836. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $783
One BR $902
Two BR $1,082
Three BR $1,525
Four BR $1,836
2024 Fair Market Rents in Coralville, Iowa

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

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 184 43 percent
One BR 375 41 percent
Two BR 1,380 52 percent
Rental Units Below FMR in Coralville, Iowa

How many affordable rental units are in Coralville?

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

Federal Program Unit Count
Low Income Housing Tax Credit 152
Section 8 Project-Based Rental Assistance 60
Tracked Units by Federal Program in Coralville, Iowa

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

Income Based Apartments in Coralville, Iowa

Coralville features 57 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 Coralville, Iowa

There are 30 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Coralville.

Housing Choice Vouchers in Coralville, Iowa

On average, Section 8 Housing Choice vouchers pay Coralville landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Coralville.

The maximum amount a voucher would pay on behalf of a low-income tenant in Coralville, Iowa for a two-bedroom apartment is between $974 and $1,190.

Sourced from federal housing data and AffordableHousingOnline.com research.