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Affordable Housing In Montgomery County
Iowa

7 Low Income Apartment Communities In Montgomery County

4 - H Manor

1804 E Summit St
Red Oak, Iowa
Subsidized

Acorn Acres Phase II

1805 N 8th St
Red Oak, Iowa
Subsidized

Oak Creek Ltd

1660 Summit
Red Oak, Iowa
Subsidized

Halland Village

602 Elliott St
Stanton, Iowa

Red Oak Manor

206 E Corning St
Red Oak, Iowa
Subsidized

600 E 3rd St

600 E 3rd St
Villisca, Iowa

City View Apartments

2100 N 8th St
Red Oak, Iowa
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Housing Authorities that serve Montgomery County

Housing Authority Programs
Southern Iowa Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Montgomery County, Iowa

There are 7 low income housing apartment communities offering 318 affordable apartments for rent in Montgomery County, Iowa.

Income Based Apartments in Montgomery County, Iowa

Montgomery County features 270 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 Montgomery County, Iowa

There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Montgomery County.

Housing Choice Vouchers in Montgomery County, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Montgomery County, Iowa for a two-bedroom apartment is between $618 and $756.

2020 Montgomery 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 $497 $522 $687 $927 $931
Payment Standard Range $447 to $547 $470 to $574 $618 to $756 $834 to $1,020 $838 to $1,024

Sourced from federal housing data and AffordableHousingOnline.com research.

Montgomery County, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 7
Total Low Income Apartments 318
Total Housing Units with Rental Assistance 270
Percentage of Housing Units Occupied By Renters 31.32%
Average Renter Household Size 2.21
Average Household Size 2.22
Median Household Income $42,418 ±$3,776
Median Rent $609 ±$62
Percentage Of Renters Overburdened 36.77% ± 8.22pp
Total Population 10,465

Population and Household Demographics

Montgomery County is a county in Iowa with a population of 10,465. There are 4,610 households in the county with an average household size of 2.22 persons. 31.32% of households in Montgomery County are renters.

Income and Rent Overburden in Montgomery County

The median gross income for households in Montgomery County is $42,418 a year, or $3,535 a month. The median rent for the county is $609 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Montgomery County, a household making less than $2,030 a month would be considered overburdened when renting an apartment at or above the median rent. 36.77% of households who rent are overburdened in Montgomery County.

Area Median Income In Montgomery 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 Montgomery County, HUD calculates the Area Median Income for a family of four as $59,300

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 Montgomery 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 Montgomery 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 Montgomery County

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

City Served By
Coburg The HUD funded Public Housing Agency that serves Coburg is the Southern Iowa Regional Housing Authority.
Elliott The HUD funded Public Housing Agency that serves Elliott is the Southern Iowa Regional Housing Authority.
Grant The HUD funded Public Housing Agency that serves Grant is the Southern Iowa Regional Housing Authority.
Red Oak The HUD funded Public Housing Agencies that serve Red Oak are the Low Rent Housing Agency of Red Oak and Southern Iowa Regional Housing Authority.
Stanton The HUD funded Public Housing Agency that serves Stanton is the Southern Iowa Regional Housing Authority.
Villisca The HUD funded Public Housing Agency that serves Villisca is the Southern Iowa Regional Housing Authority.