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Affordable Housing In Riceville
Howard County, Iowa

Guide To Affordable Housing in Riceville, Iowa

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

Income Based Apartments in Riceville, Iowa

Riceville 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 Riceville, Iowa

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

Housing Choice Vouchers in Riceville, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Riceville, Iowa for a two-bedroom apartment is between $618 and $756.

2020 Riceville, 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 $497 $604 $687 $973 $1,012
Payment Standard Range $447 to $547 $544 to $664 $618 to $756 $876 to $1,070 $911 to $1,113

Sourced from federal housing data and research.

Riceville, 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 17.31%
Average Renter Household Size 1.46
Average Household Size 2.03
Median Household Income $39,896 ±$5,232
Median Rent $475 ±$132
Percentage Of Renters Overburdened 26.87% ± 28.29pp
Total Population 811

Population and Household Demographics

Riceville is a city in Howard County, Iowa with a population of 811. There are 387 households in the city with an average household size of 2.03 persons. 17.31% of households in Riceville are renters.

Income and Rent Overburden in Riceville

The median gross income for households in Riceville is $39,896 a year, or $3,325 a month. The median rent for the city is $475 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Riceville, a household making less than $1,583 a month would be considered overburdened when renting an apartment at or above the median rent. 26.87% of households who rent are overburdened in Riceville.

Area Median Income In Riceville

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 Riceville, the AMI is calculated from all households within Howard County.

In Riceville, HUD calculates the Area Median Income for a family of four as $66,200

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 Riceville

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 Riceville

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,250 $17,400 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $25,400 $29,000 $32,650 $36,250 $39,150 $42,050 $44,950 $47,850
80% of Median $40,600 $46,400 $52,200 $58,000 $62,650 $67,300 $71,950 $76,600