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Affordable Housing In Pacific Junction
Mills County, Iowa

Housing Authorities that serve Pacific Junction

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

Guide To Affordable Housing in Pacific Junction, Iowa

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Pacific Junction, Iowa.

Income Based Apartments in Pacific Junction, Iowa

Pacific Junction 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 Pacific Junction, Iowa

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

Housing Choice Vouchers in Pacific Junction, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Pacific Junction, Iowa for a two-bedroom apartment is between $851 and $1,041.

2020 Pacific Junction, 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 $650 $762 $946 $1,272 $1,419
Payment Standard Range $585 to $715 $686 to $838 $851 to $1,041 $1,145 to $1,399 $1,277 to $1,561

Sourced from federal housing data and AffordableHousingOnline.com research.

Pacific Junction, 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 26.45%
Average Renter Household Size 2.49
Average Household Size 2.26
Median Household Income $39,688 ±$5,370
Median Rent $792 ±$56
Percentage Of Renters Overburdened 34.15% ± 28.06pp
Total Population 350

Population and Household Demographics

Pacific Junction is a city in Mills County, Iowa with a population of 350. There are 155 households in the city with an average household size of 2.26 persons. 26.45% of households in Pacific Junction are renters.

Income and Rent Overburden in Pacific Junction

The median gross income for households in Pacific Junction is $39,688 a year, or $3,307 a month. The median rent for the city is $792 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Pacific Junction, a household making less than $2,640 a month would be considered overburdened when renting an apartment at or above the median rent. 34.15% of households who rent are overburdened in Pacific Junction.

Area Median Income In Pacific Junction

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 Pacific Junction, the AMI is calculated from all households within Mills County.

In Pacific Junction, HUD calculates the Area Median Income for a family of four as $87,000

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 Pacific Junction

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 Pacific Junction

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $18,300 $20,900 $23,500 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $30,450 $34,800 $39,150 $43,500 $47,000 $50,500 $53,950 $57,450
80% of Median $48,750 $55,700 $62,650 $69,600 $75,200 $80,750 $86,350 $91,900