Affordable Housing In Lisbon
Linn County, Iowa

1 Low Income Apartment Communities In Lisbon

Meyers Meadow

203 N Walnut St
Lisbon, IA
Subsidized
Accepts Vouchers
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Housing Authorities that serve Lisbon

Housing Authority Programs
Cedar Rapids Housing Services Division Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Lisbon, Iowa

There are 1 low income housing apartment communities offering 192 affordable apartments for rent in Lisbon, Iowa.

Income Based Apartments in Lisbon, Iowa

Lisbon features 192 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 Lisbon, Iowa

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lisbon.

Housing Choice Vouchers in Lisbon, Iowa

On average, Section 8 Housing Choice vouchers pay Lisbon landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Lisbon.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lisbon, Iowa for a two-bedroom apartment is between $699 and $855.

2020 Lisbon, 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 $506 $590 $777 $1,104 $1,221
Payment Standard Range $455 to $557 $531 to $649 $699 to $855 $994 to $1,214 $1,099 to $1,343

Sourced from federal housing data and AffordableHousingOnline.com research.

Lisbon, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 192
Total Housing Units with Rental Assistance 192
Percentage of Housing Units Occupied By Renters 13.79%
Average Renter Household Size 2.02
Average Household Size 2.54
Median Household Income $49,135 ±$9,248
Median Rent $608 ±$155
Percentage Of Renters Overburdened 66.67% ± 24.95pp
Total Population 1,990

Population and Household Demographics

Lisbon is a City in Linn County, Iowa with a population of 1,990. There are 783 households in the city with an average household size of 2.54 persons. 13.79% of households in Lisbon are renters.

Income and Rent Overburden in Lisbon

The median gross income for households in Lisbon is $49,135 a year, or $4,095 a month. The median rent for the city is $608 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lisbon, a household making less than $2,027 a month would be considered overburdened when renting an apartment at or above the median rent. 66.67% of households who rent are overburdened in Lisbon.1

Area Median Income In Lisbon

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 Lisbon, the AMI is calculated from all households within Linn County.

In Lisbon, HUD calculates the Area Median Income for a family of four as $89,300

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 Lisbon

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 Lisbon HUD Rental Assistance in Lisbon

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $18,800 $21,450 $24,150 $26,800 $30,170 $34,590 $39,010 $43,430
50% of Median $31,300 $35,750 $40,200 $44,650 $48,250 $51,800 $55,400 $58,950
80% of Median $50,050 $57,200 $64,350 $71,450 $77,200 $82,900 $88,600 $94,350