Low Income Apartments and Affordable Housing For Rent in Elk Horn, IA

Discover affordable housing in Elk Horn where there are 1+ 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.

Elk Horn Dev Corp

4219 Union St, Elk Horn, Iowa 51531

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Elk Horn, Iowa
$16.33/hour
$9.08 (+125%) more than Iowa minimum wage and $9.08 (+125%) more than the Federal minimum wage.
Learn More About Elk Horn, Iowa Affordable Housing ↓

What HUD offices serve Elk Horn, 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), Family Self-Sufficiency programs for Elk Horn, Iowa.

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

How many renters live in Elk Horn, Iowa?

The City of Elk Horn has 544 people living in 219 households.

There are 52 renters living in 41 renter households in this City. Renters make up 9.56 percent of the population living in Elk Horn.

What is the rental market like in Elk Horn, Iowa?

There are an estimated 270 housing units in the Elk Horn area. Of these, 60 units are rental homes, making up 22 percent of the housing market. For every renter household in Elk Horn, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Elk Horn?

The rental vacancy rate in Elk Horn is 18 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 Elk Horn for each bedroom size?

Occupied Rental Units by Size in Elk Horn
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 12 17 10 2
Occupied Rental Units by Size in Elk Horn

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

Among renter households in this market, 24 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 Elk Horn

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,371. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $630
One BR $755
Two BR $862
Three BR $1,215
Four BR $1,371
2024 Fair Market Rents in Elk Horn, Iowa

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

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
One BR 12 100 percent
Two BR 14 82 percent
Rental Units Below FMR in Elk Horn, Iowa

How many affordable rental units are in Elk Horn?

Income Based Apartments in Elk Horn, Iowa

Elk Horn 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 Elk Horn, Iowa

There are 12 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Elk Horn.

Housing Choice Vouchers in Elk Horn, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Elk Horn, Iowa for a two-bedroom apartment is between $776 and $948.

Sourced from federal housing data and AffordableHousingOnline.com research.