Affordable Housing In Iowa City
24 Low Income Apartment Communities In Iowa City
Housing Authorities that serve Iowa City
|Iowa City Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Family Self-Sufficiency|
Guide To Affordable Housing in Iowa City, Iowa
There are 24 low income housing apartment communities offering 1,080 affordable apartments for rent in Iowa City, Iowa.
Income Based Apartments in Iowa City, Iowa
Iowa City features 650 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 Iowa City, Iowa
There are 430 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Iowa City.
Housing Choice Vouchers in Iowa City, Iowa
On average, Section 8 Housing Choice vouchers pay Iowa City landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Iowa City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Iowa City, Iowa for a two-bedroom apartment is between $932 and $1,140.
2021 Iowa City, 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|
|Iowa City, Iowa Fair Market Rent||$735||$803||$1,036||$1,483||$1,794|
|Iowa City, Iowa Payment Standard Range||$662 to $809||$723 to $883||$932 to $1,140||$1,335 to $1,631||$1,615 to $1,973|
Sourced from federal housing data and AffordableHousingOnline.com research.
Iowa City, IA Affordable Housing Snapshot
|Total Affordable Apartment Properties||24|
|Total Low Income Apartments||1,080|
|Total Housing Units with Rental Assistance||650|
|Percentage of Housing Units Occupied By Renters||52.29%|
|Average Renter Household Size||2.17|
|Average Household Size||2.24|
|Median Household Income||$42,375 ±$1,759|
|Median Rent||$865 ±$23|
|Percentage Of Renters Overburdened||58.18% ± 3.6pp|
Population and Household Demographics
Iowa City is a city in Johnson County, Iowa with a population of 71,832. There are 28,985 households in the city with an average household size of 2.24 persons. 52.29% of households in Iowa City are renters.
Income and Rent Overburden in Iowa City
The median gross income for households in Iowa City is $42,375 a year, or $3,531 a month. The median rent for the city is $865 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Iowa City, a household making less than $2,883 a month would be considered overburdened when renting an apartment at or above the median rent. 58.18% of households who rent are overburdened in Iowa City.
Area Median Income In Iowa City
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 Iowa City, the AMI is calculated from all households within Johnson County.
In Iowa City, HUD calculates the Area Median Income for a family of four as $99,700
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 Iowa City
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 Iowa City
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Iowa City AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Iowa City AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Iowa City AMI may qualify for rental assistance programs that target Low Income households.