Affordable Housing In Lyon County
Iowa

2 Low Income Apartment Communities In Lyon County

Rosewood Heights Apartments

1202 S 3rd Ave
Rock Rapids, IA
Subsidized

Rock Rapids

101 S Lincoln St
Rock Rapids, IA
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There are 2 low income housing apartment complexes which contain 92 affordable apartments for rent in Lyon County. Many of these rental apartments are income based housing with 92 apartments that set rent based on your income. In Lyon County, HUD housing programs support 56 rental assistance apartments through programs like Project-based Section 8. There are 0 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Other Housing Authorities located in Lyon County

Housing Authority Programs
Rock Rapids Municipal Housing Agency Public Housing

Guide To Affordable Housing in Lyon County, Iowa

Lyon County, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 92
Total Rent Assisted Apartments 92
Percentage of Housing Units Occupied By Renters 17.22%
Average Renter Household Size 2.23
Total Population 11,723
Housing Units 4,496
Average Household Size 2.57
Median Household Income $57,130 ±$2,941
Median Rent $595 ±$59
Percentage Of Renters Overburdened 18.99% ± 4.88pp

Population and Household Demographics

Lyon County is a County in Iowa with a population of 11,723. There are 4,496 households in the county with an average household size of 2.57 persons. 17.22% of households in Lyon County are renters.

Income and Rent Overburden in Lyon County

The median gross income for households in Lyon County is $57,130 a year, or $4,761 a month. The median rent for the county is $595 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lyon County, a household making less than $1,983 a month would be considered overburdened when renting an apartment at or above the median rent. 18.99% of households who rent are overburdened in Lyon County.1

Area Median Income In Lyon 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 Lyon County, HUD calculates the Area Median Income for a family of four as $73,900

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 Lyon 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 Lyon County HUD Rental Assistance in Lyon County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,550 $17,750 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $25,900 $29,600 $33,300 $36,950 $39,950 $42,900 $45,850 $48,800
80% of Median $41,400 $47,300 $53,200 $59,100 $63,850 $68,600 $73,300 $78,050

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 Lyon County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $25,900 $29,600 $33,300 $36,950 $39,950 $42,900 $45,850 $48,800
60% of Median $31,080 $35,520 $39,960 $44,340 $47,940 $51,480 $55,020 $58,560

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 Lyon County is $39,960 a year, or $3,330 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,330 by 30% to get a maximum rent of $999 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% $648 $694 $833 $961 $1,073 $1,183
60% $777 $833 $999 $1,154 $1,287 $1,420
Fair Market Rents in Lyon County

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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$481 $502 $664 $863 $914

Cities In Lyon County

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

City Listings Served By
Rock Rapids 2 The HUD funded Public Housing Agency that serves Rock Rapids is the Rock Rapids Municipal Housing Agency.
George 0
Inwood 0
Larchwood 0
Lester 0
Little Rock 0
Alvord 0
Doon 0