What HUD offices serve Mount Vernon, Iowa?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Iowa Public Housing and Low-Income Apartments Waiting Lists page for openings near Mount Vernon.
How many renters live in Mount Vernon, Iowa?
The City of Mount Vernon has 4,529 people living in 1,158 households.
There are 376 renters living in 232 renter households in this City. Renters make up 8.3 percent of the population living in Mount Vernon.
What is the rental market like in Mount Vernon, Iowa?
There are an estimated 1,257 housing units in the Mount Vernon area. Of these, 232 units are rental homes, making up 18 percent of the housing market. For every renter household in Mount Vernon, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Mount Vernon?
The rental vacancy rate in Mount Vernon is 0 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 Mount Vernon for each bedroom size?
Occupied Rental Units by Size in Mount Vernon
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 113 | 48 | 58 | 13 |
Occupied Rental Units by Size in Mount Vernon
A large number of apartments in Mount Vernon 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 Mount Vernon are overburdened by housing costs?
Among renter households in this market, 39 percent have housing cost burden. Further, 26 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 Mount Vernon
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $638 to $1,597. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $638 |
| One BR | $716 |
| Two BR | $941 |
| Three BR | $1,326 |
| Four BR | $1,597 |
2024 Fair Market Rents in Mount Vernon, Iowa
How many units are rented at Fair Market Rent (FMR) in Mount Vernon?
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 | 64 | 57 percent |
| Two BR | 48 | 100 percent |
Rental Units Below FMR in Mount Vernon, Iowa
How many affordable rental units are in Mount Vernon?
There are a variety of federal affordable housing programs serving households in Mount Vernon, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 18 |
| USDA Section 515 Rural Rental Housing | 21 |
Tracked Units by Federal Program in Mount Vernon, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Mount Vernon, Iowa
Mount Vernon features 0 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 Vernon, Iowa
There are 18 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mount Vernon.
Housing Choice Vouchers in Mount Vernon, Iowa
On average, Section 8 Housing Choice vouchers pay Mount Vernon landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Mount Vernon.
The maximum amount a voucher would pay on behalf of a low-income tenant in Mount Vernon, Iowa for a two-bedroom apartment is between $847 and $1,035.
Sourced from federal housing data and AffordableHousingOnline.com research.
