Affordable Housing In Grundy Center
3 Low Income Apartment Communities In Grundy Center
Guide To Affordable Housing in Grundy Center, Iowa
There are 3 low income housing apartment communities offering 68 affordable apartments for rent in Grundy Center, Iowa.
Income Based Apartments in Grundy Center, Iowa
Grundy Center features 36 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 Center, Iowa
There are 32 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Grundy Center.
Housing Choice Vouchers in Grundy Center, Iowa
On average, Section 8 Housing Choice vouchers pay Grundy Center landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Grundy Center.
The maximum amount a voucher would pay on behalf of a low-income tenant in Grundy Center, Iowa for a two-bedroom apartment is between $687 and $839.
2020 Grundy Center, 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||$517||$604||$763||$996||$1,249|
|Payment Standard Range||$465 to $569||$544 to $664||$687 to $839||$896 to $1,096||$1,124 to $1,374|
Sourced from federal housing data and AffordableHousingOnline.com research.
Grundy Center, IA Affordable Housing Snapshot
|Total Affordable Apartment Properties||3|
|Total Low Income Apartments||68|
|Total Housing Units with Rental Assistance||36|
|Percentage of Housing Units Occupied By Renters||22.96%|
|Average Renter Household Size||1.90|
|Average Household Size||2.28|
|Median Household Income||$50,000 ±$6,219|
|Median Rent||$481 ±$59|
|Percentage Of Renters Overburdened||49.43% ± 16.35pp|
Population and Household Demographics
Grundy Center is a city in Grundy County, Iowa with a population of 2,706. There are 1,154 households in the city with an average household size of 2.28 persons. 22.96% of households in Grundy Center are renters.
Income and Rent Overburden in Grundy Center
The median gross income for households in Grundy Center is $50,000 a year, or $4,167 a month. The median rent for the city is $481 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Grundy Center, a household making less than $1,603 a month would be considered overburdened when renting an apartment at or above the median rent. 49.43% of households who rent are overburdened in Grundy Center.
Area Median Income In Grundy Center
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 Grundy Center, the AMI is calculated from all households within Grundy County.
In Grundy Center, HUD calculates the Area Median Income for a family of four as $71,600
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 Grundy Center
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 HUD Rental Assistance in Grundy Center
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$15,250||$17,400||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$25,400||$29,000||$32,650||$36,250||$39,150||$42,050||$44,950||$47,850|
|80% of Median||$40,600||$46,400||$52,200||$58,000||$62,650||$67,300||$71,950||$76,600|