Affordable Housing In Leon
Decatur County, Iowa

3 Low Income Apartment Communities In Leon

Echo

302 NE 8th St
Leon, IA
62+
Accessible
Elderly Supportive Housing
Subsidized

Leon

401 SE Q St
Leon, IA

Valley View Apartments

1006 SW 11th St
Leon, IA
Subsidized
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Housing Authorities that serve Leon

Housing Authority Programs
Low Rent Housing Agency of Leon Public Housing
Southern Iowa Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Leon, Iowa

According to federal housing data and AffordableHousingOnline.com research, there are 3 low income housing apartment communities offering 76 affordable apartments for rent in Leon, Iowa. Leon features 76 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 Leon.

Leon, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 76
Total Housing Units with Rental Assistance 76
Percentage of Housing Units Occupied By Renters 49.16%
Average Renter Household Size 2.40
Average Household Size 2.50
Median Household Income $36,172 ±$11,592
Median Rent $466 ±$83
Percentage Of Renters Overburdened 40.11% ± 12.31pp
Total Population 1,999

Population and Household Demographics

Leon is a City in Decatur County, Iowa with a population of 1,999. There are 771 households in the city with an average household size of 2.50 persons. 49.16% of households in Leon are renters.

Income and Rent Overburden in Leon

The median gross income for households in Leon is $36,172 a year, or $3,014 a month. The median rent for the city is $466 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Leon, a household making less than $1,553 a month would be considered overburdened when renting an apartment at or above the median rent. 40.11% of households who rent are overburdened in Leon.1

Area Median Income In Leon

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 Leon, the AMI is calculated from all households within Decatur County.

In Leon, HUD calculates the Area Median Income for a family of four as $53,200

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 Leon

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 Leon HUD Rental Assistance in Leon

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 Leon

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 Leon 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 Leon

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
$518 $522 $687 $865 $1,146