How many renters live in Grundy County, Iowa?
The County of Grundy County has 12,351 people living in 5,062 households.
There are 1,743 renters living in 847 renter households in this County. Renters make up 14.11 percent of the population living in Grundy County.
What is the rental market like in Grundy County, Iowa?
There are an estimated 5,457 housing units in the Grundy County area. Of these, 939 units are rental homes, making up 17 percent of the housing market. For every renter household in Grundy County, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Grundy County?
The rental vacancy rate in Grundy County is 10 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 Grundy County for each bedroom size?
Occupied Rental Units by Size in Grundy County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 9 | 248 | 245 | 168 | 128 |
Occupied Rental Units by Size in Grundy County
A large number of apartments in Grundy County 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 Grundy County are overburdened by housing costs?
Among renter households in this market, 26 percent have housing cost burden. Further, 15 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 Grundy County
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 Grundy County, Iowa
How many units are rented at Fair Market Rent (FMR) in Grundy County?
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 | 5 | 56 percent |
| One BR | 140 | 56 percent |
| Two BR | 187 | 76 percent |
Rental Units Below FMR in Grundy County, Iowa
How many affordable rental units are in Grundy County?
There are a variety of federal affordable housing programs serving households in Grundy County, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 16 |
| USDA Section 515 Rural Rental Housing | 56 |
Tracked Units by Federal Program in Grundy County, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Grundy County, Iowa
Grundy County features 56 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 Grundy County, Iowa
There are 32 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Grundy County.
Housing Choice Vouchers in Grundy County, Iowa
On average, Section 8 Housing Choice vouchers pay Grundy County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Grundy County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Grundy County, Iowa for a two-bedroom apartment is between $850 and $1,038.
Sourced from federal housing data and AffordableHousingOnline.com research.
