Affordable Housing In Poweshiek County
Iowa

15 Low Income Apartment Communities In Poweshiek County

Spaulding Lofts

827 Spring St
Grinnell, IA
$555-660
1-2 BR
HCV Welcome
Market Rate

Grinnell Park

223 4th Ave West
Grinnell, IA
Subsidized

Brookside South and Pearl Street Apartments

729 Pearl St
Grinnell, IA
62+
Accessible
Elderly Supportive Housing
Subsidized

Brookside West

131 4th Ave W
Grinnell, IA
Subsidized

Poynter Apartments

412 3rd Ave
Grinnell, IA
Accessible
Disabled Supportive Housing
Subsidized

Mayflower Homes Inc

506 Center St
Grinnell, IA

Grinnell Estates

2020 West St
Grinnell, IA
Subsidized

Brooklyn Housing

619 Jackson St
Brooklyn, IA

Brookside East West and Monroe Park

902 Prince St
Grinnell, IA
Subsidized

Sunny View Square

504 E Ogden St
Montezuma, IA
Subsidized

Other Housing Authorities located in Poweshiek County

Housing Authority Programs
Grinnell Low Rent Housing Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Poweshiek County, Iowa

There are 15 low income housing apartment communities offering 966 affordable apartments for rent in Poweshiek County, Iowa. Poweshiek County features 587 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 379 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Poweshiek County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Poweshiek County, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 15
Total Low Income Apartments 966
Total Housing Units with Rental Assistance 587
Percentage of Housing Units Occupied By Renters 28.79%
Average Renter Household Size 2.08
Average Household Size 2.31
Median Household Income $51,006 ±$2,327
Median Rent $640 ±$38
Percentage Of Renters Overburdened 36.48% ± 4.88pp
Total Population 18,705

Population and Household Demographics

Poweshiek County is a County in Iowa with a population of 18,705. There are 7,351 households in the county with an average household size of 2.31 persons. 28.79% of households in Poweshiek County are renters.

Income and Rent Overburden in Poweshiek County

The median gross income for households in Poweshiek County is $51,006 a year, or $4,251 a month. The median rent for the county is $640 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Poweshiek County, a household making less than $2,133 a month would be considered overburdened when renting an apartment at or above the median rent. 36.48% of households who rent are overburdened in Poweshiek County.1

Area Median Income In Poweshiek County

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.

In Poweshiek County, HUD calculates the Area Median Income for a family of four as $69,600

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 Poweshiek County

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 Poweshiek County HUD Rental Assistance in Poweshiek County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,650 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,400 $27,850 $31,350 $34,800 $37,600 $40,400 $43,200 $45,950
80% of Median $39,000 $44,600 $50,150 $55,700 $60,200 $64,650 $69,100 $73,550
Low Income Housing Tax Credits in Poweshiek County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1993 to 2001, 3 low income apartment communities containing 111 rental apartments have been constructed and made affordable to low income persons in Poweshiek County by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Poweshiek County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $24,400 $27,850 $31,350 $34,800 $37,600 $40,400 $43,200 $45,950
60% of Median $29,280 $33,420 $37,620 $41,760 $45,120 $48,480 $51,840 $55,140

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Poweshiek County is $37,620 a year, or $3,135 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,135 by 30% to get a maximum rent of $941 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $610 $653 $784 $905 $1,010 $1,114
60% $732 $784 $941 $1,086 $1,212 $1,337
Fair Market Rents in Poweshiek County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$529 $555 $731 $938 $1,077

Cities In Poweshiek County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Grinnell 12 The HUD funded Public Housing Agency that serves Grinnell is the Grinnell Low Rent Housing Authority.
Deep River 1
Brooklyn 1
Searsboro 0
Malcom 0
Montezuma 1
Guernsey 0
Hartwick 0
Holiday Lake 0