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Affordable Housing In Monroe County

2 Low Income Apartment Communities In Monroe County

Benton Place Apartments

520 Benton Ave W
Albia, Iowa

Parkview Village

1021 5th Ave E
Albia, Iowa
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Housing Authorities that serve Monroe County

Housing Authority Programs
Area XV Multi-County Housing Agency Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Monroe County, Iowa

There are 2 low income housing apartment communities offering 88 affordable apartments for rent in Monroe County, Iowa.

Income Based Apartments in Monroe County, Iowa

Monroe County 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 Monroe County, Iowa

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

Housing Choice Vouchers in Monroe County, Iowa

On average, Section 8 Housing Choice vouchers pay Monroe County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Monroe County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Monroe County, Iowa for a two-bedroom apartment is between $648 and $792.

2020 Monroe County, 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 $521 $547 $720 $897 $989
Payment Standard Range $469 to $573 $492 to $602 $648 to $792 $807 to $987 $890 to $1,088

Sourced from federal housing data and research.

Monroe County, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 88
Total Housing Units with Rental Assistance 88
Percentage of Housing Units Occupied By Renters 25.38%
Average Renter Household Size 2.35
Average Household Size 2.37
Median Household Income $46,304 ±$4,395
Median Rent $590 ±$65
Percentage Of Renters Overburdened 23.22% ± 10.23pp
Total Population 8,002

Population and Household Demographics

Monroe County is a county in Iowa with a population of 8,002. There are 3,326 households in the county with an average household size of 2.37 persons. 25.38% of households in Monroe County are renters.

Income and Rent Overburden in Monroe County

The median gross income for households in Monroe County is $46,304 a year, or $3,859 a month. The median rent for the county is $590 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Monroe County, a household making less than $1,967 a month would be considered overburdened when renting an apartment at or above the median rent. 23.22% of households who rent are overburdened in Monroe County.

Area Median Income In Monroe 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 Monroe County, HUD calculates the Area Median Income for a family of four as $66,900

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 Monroe 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 HUD Rental Assistance in Monroe County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,250 $17,400 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $25,400 $29,000 $32,650 $36,250 $39,150 $42,050 $44,950 $47,850
80% of Median $40,600 $46,400 $52,200 $58,000 $62,650 $67,300 $71,950 $76,600

Cities In Monroe County

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

City Served By
Albia The HUD funded Public Housing Agencies that serve Albia are the Albia Housing Agency and Area XV Multi-County Housing Agency.
Lovilia The HUD funded Public Housing Agency that serves Lovilia is the Area XV Multi-County Housing Agency.
Melrose The HUD funded Public Housing Agency that serves Melrose is the Area XV Multi-County Housing Agency.