Low Income Apartments and Affordable Housing For Rent in Fayette County, IA

Discover affordable housing in Fayette County where there are 4+ 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.

Palmer Apartments

711 Jefferson St, West Union, Iowa 52175

Westwood Park Apartments

710 Jefferson St, West Union, Iowa 52175

Oelwein Sr Citz.Hsg

3 3rd Ave Se, Oelwein, Iowa

Buffalo Run Apartments

400 13th Ave NW, Oelwein, Iowa 50662

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Fayette County, 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 Fayette County, Iowa Affordable Housing ↓

How many renters live in Fayette County, Iowa?

The County of Fayette County has 19,519 people living in 8,228 households.

There are 4,123 renters living in 1,958 renter households in this County. Renters make up 21.12 percent of the population living in Fayette County.

What is the rental market like in Fayette County, Iowa?

There are an estimated 9,323 housing units in the Fayette County area. Of these, 2,219 units are rental homes, making up 24 percent of the housing market. For every renter household in Fayette County, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Fayette County?

The rental vacancy rate in Fayette County is 9 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 Fayette County for each bedroom size?

Occupied Rental Units by Size in Fayette County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
26 493 629 535 240
Occupied Rental Units by Size in Fayette County

A large number of apartments in Fayette County 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 Fayette County are overburdened by housing costs?

Among renter households in this market, 40 percent have housing cost burden. Further, 22 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 Fayette County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $584 to $1,463. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $584
One BR $656
Two BR $862
Three BR $1,093
Four BR $1,463
2024 Fair Market Rents in Fayette County, Iowa

How many units are rented at Fair Market Rent (FMR) in Fayette County?

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
Studio 24 92 percent
One BR 287 58 percent
Two BR 368 59 percent
Rental Units Below FMR in Fayette County, Iowa

How many affordable rental units are in Fayette County?

There are a variety of federal affordable housing programs serving households in Fayette County, Iowa including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 60
Section 8 Project-Based Rental Assistance 38
USDA Section 515 Rural Rental Housing 79
Tracked Units by Federal Program in Fayette County, Iowa

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Fayette County, Iowa

Fayette County features 127 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 Fayette County, Iowa

There are 36 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fayette County.

Housing Choice Vouchers in Fayette County, Iowa

On average, Section 8 Housing Choice vouchers pay Fayette County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Fayette County.

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

Sourced from federal housing data and AffordableHousingOnline.com research.