Low Income Apartments and Affordable Housing For Rent in Marengo, IA

Discover affordable housing in Marengo where there are 3+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

West Pine Homes

802 W Pine St, Marengo, Iowa 52301

Miller & Prime Time

520 W. Miller, Marengo, Iowa

Kinsey Manor/May Ct

520 W Miller St, Marengo, Iowa

calendar_today Opened: Oct 1
Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Marengo, Iowa
$16.33/hour
$9.08 (+125%) more than Iowa minimum wage and $9.08 (+125%) more than the Federal minimum wage.
Learn More About Marengo, Iowa Affordable Housing ↓

What HUD offices serve Marengo, Iowa?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Homeownership Voucher, Family Self-Sufficiency programs for Marengo, Iowa.

Go to the Iowa Public Housing and Low-Income Apartments Waiting Lists page for openings near Marengo.

How many renters live in Marengo, Iowa?

The City of Marengo has 2,812 people living in 1,144 households.

There are 737 renters living in 328 renter households in this City. Renters make up 26.21 percent of the population living in Marengo.

What is the rental market like in Marengo, Iowa?

There are an estimated 1,255 housing units in the Marengo area. Of these, 342 units are rental homes, making up 27 percent of the housing market. For every renter household in Marengo, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Marengo?

The rental vacancy rate in Marengo is 4 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Marengo for each bedroom size?

Occupied Rental Units by Size in Marengo
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 109 118 94 7
Occupied Rental Units by Size in Marengo

A large number of apartments in Marengo 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 Marengo are overburdened by housing costs?

Among renter households in this market, 34 percent have housing cost burden. Further, 12 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 Marengo

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,434. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $630
One BR $696
Two BR $862
Three BR $1,215
Four BR $1,434
2024 Fair Market Rents in Marengo, Iowa

How many units are rented at Fair Market Rent (FMR) in Marengo?

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 87 80 percent
Two BR 72 61 percent
Rental Units Below FMR in Marengo, Iowa

How many affordable rental units are in Marengo?

There are a variety of federal affordable housing programs serving households in Marengo, Iowa including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 24
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Marengo, Iowa

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Marengo, Iowa

Marengo features 88 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 Marengo, Iowa

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

Housing Choice Vouchers in Marengo, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Marengo, Iowa for a two-bedroom apartment is between $776 and $948.

Sourced from federal housing data and AffordableHousingOnline.com research.