What HUD offices serve Panora, 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 Panora.
How many renters live in Panora, Iowa?
The City of Panora has 1,490 people living in 591 households.
There are 338 renters living in 160 renter households in this City. Renters make up 22.68 percent of the population living in Panora.
What is the rental market like in Panora, Iowa?
There are an estimated 646 housing units in the Panora area. Of these, 181 units are rental homes, making up 28 percent of the housing market. For every renter household in Panora, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Panora?
The rental vacancy rate in Panora is 12 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 Panora for each bedroom size?
Occupied Rental Units by Size in Panora
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 5 | 42 | 57 | 52 | 4 |
Occupied Rental Units by Size in Panora
A large number of apartments in Panora 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 Panora are overburdened by housing costs?
Among renter households in this market, 56 percent have housing cost burden. Further, 46 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 Panora
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $833 to $1,481. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $833 |
| One BR | $899 |
| Two BR | $1,080 |
| Three BR | $1,477 |
| Four BR | $1,481 |
2024 Fair Market Rents in Panora, Iowa
How many units are rented at Fair Market Rent (FMR) in Panora?
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 | 0 | 100 percent |
| One BR | 36 | 86 percent |
| Two BR | 38 | 67 percent |
Rental Units Below FMR in Panora, Iowa
How many affordable rental units are in Panora?
There are a variety of federal affordable housing programs serving households in Panora, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 10 |
Tracked Units by Federal Program in Panora, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Panora, Iowa
Panora 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 Panora, Iowa
There are 25 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Panora.
Housing Choice Vouchers in Panora, Iowa
On average, Section 8 Housing Choice vouchers pay Panora landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Panora.
The maximum amount a voucher would pay on behalf of a low-income tenant in Panora, Iowa for a two-bedroom apartment is between $972 and $1,188.
Sourced from federal housing data and AffordableHousingOnline.com research.
