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Affordable Housing In Hancock County
Iowa

5 Low Income Apartment Communities In Hancock County

The Phoenix at Corinth

200 Fawkes Avenue
Corwith, Iowa
Call For Rent
3 BR

Town Square Apartments

127 Winnebago Way
Forest City, Iowa
Subsidized

Garner Village Apartments

355 W 12th St
Garner, Iowa
Subsidized

Winngate Village

101 Westgate Dr
Forest City, Iowa

New Life Estates

145 Westgate Drive
Forest City, Iowa
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Housing Authorities that serve Hancock County

Housing Authority Programs
North Iowa Regional Housing Authority Public Housing

Guide To Affordable Housing in Hancock County, Iowa

There are 5 low income housing apartment communities offering 141 affordable apartments for rent in Hancock County, Iowa.

Income Based Apartments in Hancock County, Iowa

Hancock County features 85 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 Hancock County, Iowa

There are 56 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hancock County.

Housing Choice Vouchers in Hancock County, Iowa

On average, Section 8 Housing Choice vouchers pay Hancock County landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Hancock County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Hancock County, Iowa for a two-bedroom apartment is between $618 and $756.

2020 Hancock County, 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 $497 $546 $687 $873 $1,146
Payment Standard Range $447 to $547 $491 to $601 $618 to $756 $786 to $960 $1,031 to $1,261

Sourced from federal housing data and AffordableHousingOnline.com research.

Hancock County, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 141
Total Housing Units with Rental Assistance 85
Percentage of Housing Units Occupied By Renters 19.88%
Average Renter Household Size 2.19
Average Household Size 2.33
Median Household Income $52,981 ±$3,570
Median Rent $551 ±$30
Percentage Of Renters Overburdened 30.14% ± 7.69pp
Total Population 11,092

Population and Household Demographics

Hancock County is a county in Iowa with a population of 11,092. There are 4,673 households in the county with an average household size of 2.33 persons. 19.88% of households in Hancock County are renters.

Income and Rent Overburden in Hancock County

The median gross income for households in Hancock County is $52,981 a year, or $4,415 a month. The median rent for the county is $551 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hancock County, a household making less than $1,837 a month would be considered overburdened when renting an apartment at or above the median rent. 30.14% of households who rent are overburdened in Hancock County.

Area Median Income In Hancock 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 Hancock County, HUD calculates the Area Median Income for a family of four as $71,500

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 Hancock 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 HUD Rental Assistance in Hancock County

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

Cities In Hancock County

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

City Served By
Britt The HUD funded Public Housing Agency that serves Britt is the North Iowa Regional Housing Authority.
Corwith The HUD funded Public Housing Agency that serves Corwith is the North Iowa Regional Housing Authority.
Crystal Lake The HUD funded Public Housing Agency that serves Crystal Lake is the North Iowa Regional Housing Authority.
Duncan The HUD funded Public Housing Agency that serves Duncan is the North Iowa Regional Housing Authority.
Forest City The HUD funded Public Housing Agency that serves Forest City is the North Iowa Regional Housing Authority.
Garner The HUD funded Public Housing Agency that serves Garner is the North Iowa Regional Housing Authority.
Goodell The HUD funded Public Housing Agency that serves Goodell is the North Iowa Regional Housing Authority.
Hayfield The HUD funded Public Housing Agency that serves Hayfield is the North Iowa Regional Housing Authority.
Hutchins The HUD funded Public Housing Agency that serves Hutchins is the North Iowa Regional Housing Authority.
Kanawha The HUD funded Public Housing Agency that serves Kanawha is the North Iowa Regional Housing Authority.
Klemme The HUD funded Public Housing Agency that serves Klemme is the North Iowa Regional Housing Authority.
Miller The HUD funded Public Housing Agency that serves Miller is the North Iowa Regional Housing Authority.
Woden The HUD funded Public Housing Agency that serves Woden is the North Iowa Regional Housing Authority.