Affordable Housing In Hamilton County
Iowa

1 Low Income Apartment Communities In Hamilton County

Jewell Housing Inc

1002 2nd St
Jewell, IA
Subsidized
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Guide To Affordable Housing in Hamilton County, Iowa

There are 1 low income housing apartment communities offering 32 affordable apartments for rent in Hamilton County, Iowa. Hamilton County features 32 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Hamilton County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Hamilton County, 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 30.06%
Average Renter Household Size 2.16
Average Household Size 2.36
Median Household Income $49,813 ±$3,439
Median Rent $638 ±$46
Percentage Of Renters Overburdened 32.31% ± 7.43pp
Total Population 15,297

Population and Household Demographics

Hamilton County is a County in Iowa with a population of 15,297. There are 6,384 households in the county with an average household size of 2.36 persons. 30.06% of households in Hamilton County are renters.

Income and Rent Overburden in Hamilton County

The median gross income for households in Hamilton County is $49,813 a year, or $4,151 a month. The median rent for the county is $638 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hamilton County, a household making less than $2,127 a month would be considered overburdened when renting an apartment at or above the median rent. 32.31% of households who rent are overburdened in Hamilton County.1

Area Median Income In Hamilton County

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.

In Hamilton County, HUD calculates the Area Median Income for a family of four as $68,600

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 Hamilton County

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 Hamilton County HUD Rental Assistance in Hamilton County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,600 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,300 $27,800 $31,250 $34,700 $37,500 $40,300 $43,050 $45,850
80% of Median $38,850 $44,400 $49,950 $55,500 $59,950 $64,400 $68,850 $73,300

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Hamilton County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $24,300 $27,800 $31,250 $34,700 $37,500 $40,300 $43,050 $45,850
60% of Median $29,160 $33,360 $37,500 $41,640 $45,000 $48,360 $51,660 $55,020

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Hamilton County is $37,500 a year, or $3,125 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,125 by 30% to get a maximum rent of $938 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $608 $651 $781 $903 $1,008 $1,111
60% $729 $782 $938 $1,083 $1,209 $1,334
Fair Market Rents in Hamilton County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$513 $553 $709 $884 $1,245

Cities In Hamilton County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Williams 0
Jewell 1
Kamrar 0
Ellsworth 0
Stanhope 0
Randall 0
Webster City 0
Blairsburg 0
Jewell Junction 0
Stratford 0