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Affordable Housing In Riverside
Washington County, Iowa

1 Low Income Apartment Communities In Riverside

Riverside Senior

300 River St
Riverside, Iowa
Subsidized
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Housing Authorities that serve Riverside

Housing Authority Programs
Area XV Multi-County Housing Agency Section 8 Housing Choice Voucher (HCV); Public Housing
Iowa City Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Family Self-Sufficiency

Guide To Affordable Housing in Riverside, Iowa

There are 1 low income housing apartment communities offering 60 affordable apartments for rent in Riverside, Iowa.

Income Based Apartments in Riverside, Iowa

Riverside features 60 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 Riverside, Iowa

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

Housing Choice Vouchers in Riverside, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Riverside, Iowa for a two-bedroom apartment is between $725 and $886.

2020 Riverside, 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 $564 $611 $805 $1,003 $1,141
Payment Standard Range $508 to $620 $550 to $672 $725 to $886 $903 to $1,103 $1,027 to $1,255

Sourced from federal housing data and AffordableHousingOnline.com research.

Riverside, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 60
Total Housing Units with Rental Assistance 60
Percentage of Housing Units Occupied By Renters 36.27%
Average Renter Household Size 1.97
Average Household Size 2.27
Median Household Income $51,250 ±$9,986
Median Rent $674 ±$54
Percentage Of Renters Overburdened 42.6% ± 19.02pp
Total Population 1,060

Population and Household Demographics

Riverside is a city in Washington County, Iowa with a population of 1,060. There are 466 households in the city with an average household size of 2.27 persons. 36.27% of households in Riverside are renters.

Income and Rent Overburden in Riverside

The median gross income for households in Riverside is $51,250 a year, or $4,271 a month. The median rent for the city is $674 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Riverside, a household making less than $2,247 a month would be considered overburdened when renting an apartment at or above the median rent. 42.6% of households who rent are overburdened in Riverside.

Area Median Income In Riverside

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 Riverside, the AMI is calculated from all households within Washington County.

In Riverside, HUD calculates the Area Median Income for a family of four as $78,200

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 Riverside

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 Riverside

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,450 $18,800 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $27,400 $31,300 $35,200 $39,100 $42,250 $45,400 $48,500 $51,650
80% of Median $43,800 $50,050 $56,300 $62,550 $67,600 $72,600 $77,600 $82,600