Affordable Housing In Ely
Linn County, Iowa

1 Low Income Apartment Communities In Ely

Ely Manor

1485 Fuhrmeister St
Ely, IA
Subsidized
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Housing Authorities that serve Ely

Housing Authority Programs
Cedar Rapids Housing Services Division Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Ely, Iowa

There are 1 low income housing apartment communities offering 32 affordable apartments for rent in Ely, Iowa.

Income Based Apartments in Ely, Iowa

Ely features 32 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 Ely, Iowa

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ely.

Housing Choice Vouchers in Ely, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Ely, Iowa for a two-bedroom apartment is between $699 and $855.

2020 Ely, Iowa Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $506 $590 $777 $1,104 $1,221
Payment Standard Range $455 to $557 $531 to $649 $699 to $855 $994 to $1,214 $1,099 to $1,343

Sourced from federal housing data and AffordableHousingOnline.com research.

Ely, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 32
Total Housing Units with Rental Assistance 32
Percentage of Housing Units Occupied By Renters 16.62%
Average Renter Household Size 1.72
Average Household Size 2.83
Median Household Income $96,667 ±$8,140
Median Rent $666 ±$16
Percentage Of Renters Overburdened 18.8% ± 14.15pp
Total Population 1,994

Population and Household Demographics

Ely is a City in Linn County, Iowa with a population of 1,994. There are 704 households in the city with an average household size of 2.83 persons. 16.62% of households in Ely are renters.

Income and Rent Overburden in Ely

The median gross income for households in Ely is $96,667 a year, or $8,056 a month. The median rent for the city is $666 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ely, a household making less than $2,220 a month would be considered overburdened when renting an apartment at or above the median rent. 18.8% of households who rent are overburdened in Ely.1

Area Median Income In Ely

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Ely, the AMI is calculated from all households within Linn County.

In Ely, HUD calculates the Area Median Income for a family of four as $89,300

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 Ely

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 Ely HUD Rental Assistance in Ely

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $18,800 $21,450 $24,150 $26,800 $30,170 $34,590 $39,010 $43,430
50% of Median $31,300 $35,750 $40,200 $44,650 $48,250 $51,800 $55,400 $58,950
80% of Median $50,050 $57,200 $64,350 $71,450 $77,200 $82,900 $88,600 $94,350