How many renters live in Montezuma, Iowa?
The City of Montezuma has people living in households.
There are renters living in renter households in this City. Renters make up 38.58 percent of the population living in Montezuma.
What is the rental market like in Montezuma, Iowa?
There are an estimated housing units in the Montezuma area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Montezuma, Iowa, there are 1.03 rental units.
What is the vacancy rate for rentals in Montezuma?
The rental vacancy rate in Montezuma is 3 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 Montezuma for each bedroom size?
Occupied Rental Units by Size in Montezuma
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 99 | 150 | 52 | 2 |
Occupied Rental Units by Size in Montezuma
A large number of apartments in Montezuma have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Montezuma
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 Montezuma, Iowa
How many units are rented at Fair Market Rent (FMR) in Montezuma?
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 | 65 | 66 percent |
| Two BR | 89 | 59 percent |
Rental Units Below FMR in Montezuma, Iowa
How many affordable rental units are in Montezuma?
There are a variety of federal affordable housing programs serving households in Montezuma, Iowa including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Montezuma, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Montezuma, Iowa
Montezuma features 32 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 Montezuma, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Montezuma.
Housing Choice Vouchers in Montezuma, Iowa
On average, Section 8 Housing Choice vouchers pay Montezuma landlords $400 per month towards rent. The average voucher holder contributes $500 towards rent in Montezuma.
The maximum amount a voucher would pay on behalf of a low-income tenant in Montezuma, Iowa for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.