Low Income Apartments and Affordable Housing For Rent in Ossian, IA

Discover affordable housing in Ossian where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Ossian Housing Inc

102 Bothel Ave, Ossian, Iowa

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Ossian, Iowa
$16.33/hour
$9.08 (+125%) more than Iowa minimum wage and $9.08 (+125%) more than the Federal minimum wage.
Learn More About Ossian, Iowa Affordable Housing ↓

How many renters live in Ossian, Iowa?

The City of Ossian has 847 people living in 389 households.

There are 78 renters living in 60 renter households in this City. Renters make up 9.21 percent of the population living in Ossian.

What is the rental market like in Ossian, Iowa?

There are an estimated 415 housing units in the Ossian area. Of these, 67 units are rental homes, making up 16 percent of the housing market. For every renter household in Ossian, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Ossian?

The rental vacancy rate in Ossian is 6 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 Ossian for each bedroom size?

Occupied Rental Units by Size in Ossian
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 21 14 6 15
Occupied Rental Units by Size in Ossian

A large number of apartments in Ossian 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 Ossian are overburdened by housing costs?

Among renter households in this market, 12 percent have housing cost burden. Further, 12 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 Ossian

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,148. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $630
One BR $656
Two BR $862
Three BR $1,144
Four BR $1,148
2024 Fair Market Rents in Ossian, Iowa

How many units are rented at Fair Market Rent (FMR) in Ossian?

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 20 95 percent
Two BR 8 57 percent
Rental Units Below FMR in Ossian, Iowa

How many affordable rental units are in Ossian?

There are a variety of federal affordable housing programs serving households in Ossian, Iowa including the following:

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 16
Tracked Units by Federal Program in Ossian, Iowa

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Ossian, Iowa

Ossian features 16 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 Ossian, Iowa

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

Housing Choice Vouchers in Ossian, Iowa

On average, Section 8 Housing Choice vouchers pay Ossian landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ossian.

The maximum amount a voucher would pay on behalf of a low-income tenant in Ossian, Iowa for a two-bedroom apartment is between $776 and $948.

Sourced from federal housing data and AffordableHousingOnline.com research.