Low Income Apartments and Affordable Housing For Rent in Richland, IA

Discover affordable housing in Richland where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Cypress Village

303 Stroup Street, Richland, Iowa

Open Until Further Notice

Reported On February 23rd, 2024 by Vanea Gardner

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Richland, Iowa
$16.61/hour
$9.36 (+129%) more than Iowa minimum wage and $9.36 (+129%) more than the Federal minimum wage.
Learn More About Richland, Iowa Affordable Housing ↓

What HUD offices serve Richland, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Richland, Iowa.

Go to the Iowa Public Housing and Low-Income Apartments Waiting Lists page for openings near Richland.

How many renters live in Richland, Iowa?

The City of Richland has 497 people living in 199 households.

There are 87 renters living in 40 renter households in this City. Renters make up 17.51 percent of the population living in Richland.

What is the rental market like in Richland, Iowa?

There are an estimated 227 housing units in the Richland area. Of these, 40 units are rental homes, making up 18 percent of the housing market. For every renter household in Richland, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Richland?

The rental vacancy rate in Richland is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Richland for each bedroom size?

Occupied Rental Units by Size in Richland
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 13 12 14 1
Occupied Rental Units by Size in Richland

A large number of apartments in Richland 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 Richland are overburdened by housing costs?

Among renter households in this market, 18 percent have housing cost burden. Further, 15 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 Richland

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $641 to $1,168. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $641
One BR $708
Two BR $877
Three BR $1,101
Four BR $1,168
2024 Fair Market Rents in Richland, Iowa

How many units are rented at Fair Market Rent (FMR) in Richland?

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
One BR 12 92 percent
Two BR 6 50 percent
Rental Units Below FMR in Richland, Iowa

How many affordable rental units are in Richland?

There are a variety of federal affordable housing programs serving households in Richland, Iowa including the following:

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 15
Tracked Units by Federal Program in Richland, Iowa

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Richland, Iowa

Richland features 15 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 Richland, Iowa

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

Housing Choice Vouchers in Richland, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Richland, Iowa for a two-bedroom apartment is between $789 and $965.

Sourced from federal housing data and AffordableHousingOnline.com research.