How many renters live in McGregor, Iowa?
The City of McGregor has 686 people living in 322 households.
There are 170 renters living in 94 renter households in this City. Renters make up 24.78 percent of the population living in McGregor.
What is the rental market like in McGregor, Iowa?
There are an estimated 395 housing units in the McGregor area. Of these, 105 units are rental homes, making up 27 percent of the housing market. For every renter household in McGregor, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in McGregor?
The rental vacancy rate in McGregor is 10 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 McGregor for each bedroom size?
Occupied Rental Units by Size in McGregor
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 35 | 32 | 22 | 3 |
Occupied Rental Units by Size in McGregor
A large number of apartments in McGregor 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 McGregor are overburdened by housing costs?
Among renter households in this market, 30 percent have housing cost burden. Further, 21 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 McGregor
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $584 to $1,148. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $584 |
| One BR | $656 |
| Two BR | $862 |
| Three BR | $1,067 |
| Four BR | $1,148 |
2024 Fair Market Rents in McGregor, Iowa
How many units are rented at Fair Market Rent (FMR) in McGregor?
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 | 29 | 83 percent |
| Two BR | 20 | 63 percent |
Rental Units Below FMR in McGregor, Iowa
How many affordable rental units are in McGregor?
There are a variety of federal affordable housing programs serving households in McGregor, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 15 |
| USDA Section 515 Rural Rental Housing | 39 |
Tracked Units by Federal Program in McGregor, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in McGregor, Iowa
McGregor features 15 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 McGregor, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in McGregor.
Housing Choice Vouchers in McGregor, Iowa
On average, Section 8 Housing Choice vouchers pay McGregor landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in McGregor.
The maximum amount a voucher would pay on behalf of a low-income tenant in McGregor, Iowa for a two-bedroom apartment is between $776 and $948.
Sourced from federal housing data and AffordableHousingOnline.com research.
