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Affordable Housing In Mount Ayr
Ringgold County, Iowa

1 Low Income Apartment Communities In Mount Ayr

Heritage Park Apartments

306 E Monroe St
Mount Ayr, Iowa
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Housing Authorities that serve Mount Ayr

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

Guide To Affordable Housing in Mount Ayr, Iowa

There are 1 low income housing apartment communities offering 26 affordable apartments for rent in Mount Ayr, Iowa.

Income Based Apartments in Mount Ayr, Iowa

Mount Ayr features 26 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 Mount Ayr, Iowa

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

Housing Choice Vouchers in Mount Ayr, Iowa

On average, Section 8 Housing Choice vouchers pay Mount Ayr landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Mount Ayr.

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

2020 Mount Ayr, 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 $536 $687 $976 $1,029
Payment Standard Range $447 to $547 $482 to $590 $618 to $756 $878 to $1,074 $926 to $1,132

Sourced from federal housing data and AffordableHousingOnline.com research.

Mount Ayr, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 26
Total Housing Units with Rental Assistance 26
Percentage of Housing Units Occupied By Renters 28.4%
Average Renter Household Size 1.88
Average Household Size 2.25
Median Household Income $45,688 ±$6,201
Median Rent $483 ±$75
Percentage Of Renters Overburdened 37.44% ± 11.2pp
Total Population 1,799

Population and Household Demographics

Mount Ayr is a city in Ringgold County, Iowa with a population of 1,799. There are 743 households in the city with an average household size of 2.25 persons. 28.4% of households in Mount Ayr are renters.

Income and Rent Overburden in Mount Ayr

The median gross income for households in Mount Ayr is $45,688 a year, or $3,807 a month. The median rent for the city is $483 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Mount Ayr, a household making less than $1,610 a month would be considered overburdened when renting an apartment at or above the median rent. 37.44% of households who rent are overburdened in Mount Ayr.

Area Median Income In Mount Ayr

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Mount Ayr, the AMI is calculated from all households within Ringgold County.

In Mount Ayr, HUD calculates the Area Median Income for a family of four as $62,200

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 Mount Ayr

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 Mount Ayr

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