How many renters live in Malcom, Iowa?
The City of Malcom has 246 people living in 98 households.
There are 32 renters living in 21 renter households in this City. Renters make up 13.01 percent of the population living in Malcom.
What is the rental market like in Malcom, Iowa?
There are an estimated 117 housing units in the Malcom area. Of these, 28 units are rental homes, making up 24 percent of the housing market. For every renter household in Malcom, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Malcom?
The rental vacancy rate in Malcom is 7 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 Malcom for each bedroom size?
Occupied Rental Units by Size in Malcom
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 8 | 10 | 3 | 0 |
Occupied Rental Units by Size in Malcom
A large number of apartments in Malcom 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 Malcom are overburdened by housing costs?
Among renter households in this market, 43 percent have housing cost burden. Further, 10 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 Malcom
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $661 to $1,205. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $661 |
| One BR | $806 |
| Two BR | $905 |
| Three BR | $1,201 |
| Four BR | $1,205 |
2024 Fair Market Rents in Malcom, Iowa
How many units are rented at Fair Market Rent (FMR) in Malcom?
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 |
| One BR | 8 | 100 percent |
| Two BR | 8 | 80 percent |
Rental Units Below FMR in Malcom, Iowa
How many affordable rental units are in Malcom?
There are a variety of federal affordable housing programs serving households in Malcom, Iowa including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 9 |
Tracked Units by Federal Program in Malcom, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Malcom, Iowa
Malcom features 9 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 Malcom, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Malcom.
Housing Choice Vouchers in Malcom, Iowa
On average, Section 8 Housing Choice vouchers pay Malcom landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Malcom.
The maximum amount a voucher would pay on behalf of a low-income tenant in Malcom, Iowa for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
