How many renters live in Palo Alto County, Iowa?
The County of Palo Alto County has people living in households.
There are renters living in renter households in this County. Renters make up 19.41 percent of the population living in Palo Alto County.
What is the rental market like in Palo Alto County, Iowa?
There are an estimated housing units in the Palo Alto County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Palo Alto County, Iowa, there are 1.12 rental units.
What is the vacancy rate for rentals in Palo Alto County?
The rental vacancy rate in Palo Alto County is 11 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Palo Alto County for each bedroom size?
Occupied Rental Units by Size in Palo Alto County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 13 | 261 | 276 | 196 | 85 |
Occupied Rental Units by Size in Palo Alto County
A large number of apartments in Palo Alto County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Palo Alto County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,156. 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 | $1,152 |
| Four BR | $1,156 |
2024 Fair Market Rents in Palo Alto County, Iowa
How many units are rented at Fair Market Rent (FMR) in Palo Alto County?
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 |
| Studio | 7 | 54 percent |
| One BR | 195 | 75 percent |
| Two BR | 200 | 72 percent |
Rental Units Below FMR in Palo Alto County, Iowa
How many affordable rental units are in Palo Alto County?
There are a variety of federal affordable housing programs serving households in Palo Alto County, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly |
Tracked Units by Federal Program in Palo Alto County, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Palo Alto County, Iowa
Palo Alto County features 123 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 Palo Alto County, Iowa
There are 67 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Palo Alto County.
Housing Choice Vouchers in Palo Alto County, Iowa
On average, Section 8 Housing Choice vouchers pay Palo Alto County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Palo Alto County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Palo Alto County, Iowa for a two-bedroom apartment is between $776 and $948.
Sourced from federal housing data and AffordableHousingOnline.com research.