Affordable Housing In North Buena Vista
Clayton County,
Iowa
Guide To Affordable Housing in North Buena Vista, Iowa
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in North Buena Vista, Iowa.
Income Based Apartments in North Buena Vista, Iowa
North Buena Vista 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 North Buena Vista, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in North Buena Vista.
Housing Choice Vouchers in North Buena Vista, Iowa
On average, Section 8 Housing Choice vouchers pay North Buena Vista landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in North Buena Vista.
The maximum amount a voucher would pay on behalf of a low-income tenant in North Buena Vista, Iowa for a two-bedroom apartment is between $645 and $789.
2021 North Buena Vista, 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 | |
|---|---|---|---|---|---|
| North Buena Vista, Iowa Fair Market Rent | $473 | $544 | $717 | $892 | $972 |
| North Buena Vista, Iowa Payment Standard Range | $426 to $520 | $490 to $598 | $645 to $789 | $803 to $981 | $875 to $1,069 |
Sourced from federal housing data and AffordableHousingOnline.com research.
North Buena Vista, IA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 0 |
|---|---|
| Total Low Income Apartments | 0 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 4.44% |
| Average Renter Household Size | 1.00 |
| Average Household Size | 1.62 |
| Median Household Income | $30,250 ±$6,171 |
| Median Rent | $0 ±$0 |
| Percentage Of Renters Overburdened | 0% ± 900pp |
| Total Population | 73 |
Population and Household Demographics
North Buena Vista is a city in Clayton County, Iowa with a population of 73. There are 45 households in the city with an average household size of 1.62 persons. 4.44% of households in North Buena Vista are renters.
Income and Rent Overburden in North Buena Vista
The median gross income for households in North Buena Vista is $30,250 a year, or $2,521 a month. The median rent for the city is $0 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In North Buena Vista, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 0% of households who rent are overburdened in North Buena Vista.
Area Median Income In North Buena Vista
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 North Buena Vista, the AMI is calculated from all households within Clayton County.
In North Buena Vista, HUD calculates the Area Median Income for a family of four as $69,500
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 North Buena Vista
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 North Buena Vista
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the North Buena Vista AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$15,250 | $17,400 | $21,720 | $26,200 | $30,680 | $35,160 | $39,640 | $44,120 |
| 50% AMI Income Limits Renters earning up to 50% of the North Buena Vista AMI may qualify for rental assistance programs that target Very Low Income households. |
$25,400 | $29,000 | $32,650 | $36,250 | $39,150 | $42,050 | $44,950 | $47,850 |
| 80% AMI Income Limits Renters earning up to 80% of the North Buena Vista AMI may qualify for rental assistance programs that target Low Income households. |
$40,600 | $46,400 | $52,200 | $58,000 | $62,650 | $67,300 | $71,950 | $76,600 |
