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

Discover affordable housing in Sheldon where there are 5+ 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.

Sheldon Independent Living

524 Oak St, Sheldon, Iowa 51201

Autumn Park Apartments ~ Sheldon

131 N Washington Ave, Sheldon, Iowa 51201

East Oak Apartments

1701 Oak St, Sheldon, Iowa 51201

Sheldon I. Limited Partne

1011 16th St, Sheldon, Iowa 51201

Valley View Village

206 Wansink Ave, Sheldon, Iowa 51201

Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Sheldon, Iowa
$16.33/hour
$9.08 (+125%) more than Iowa minimum wage and $9.08 (+125%) more than the Federal minimum wage.
Learn More About Sheldon, Iowa Affordable Housing ↓

What HUD offices serve Sheldon, 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 Sheldon, Iowa.

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

How many renters live in Sheldon, Iowa?

The City of Sheldon has 5,417 people living in 2,051 households.

There are 1,326 renters living in 657 renter households in this City. Renters make up 24.48 percent of the population living in Sheldon.

What is the rental market like in Sheldon, Iowa?

There are an estimated 2,448 housing units in the Sheldon area. Of these, 756 units are rental homes, making up 31 percent of the housing market. For every renter household in Sheldon, Iowa, there are 1 rental units.

What is the vacancy rate for rentals in Sheldon?

The rental vacancy rate in Sheldon is 13 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 Sheldon for each bedroom size?

Occupied Rental Units by Size in Sheldon
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 268 232 56 41
Occupied Rental Units by Size in Sheldon

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

Among renter households in this market, 28 percent have housing cost burden. Further, 20 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 Sheldon

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $676 to $1,233. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $676
One BR $705
Two BR $926
Three BR $1,120
Four BR $1,233
2024 Fair Market Rents in Sheldon, Iowa

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

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 165 62 percent
Two BR 148 64 percent
Rental Units Below FMR in Sheldon, Iowa

How many affordable rental units are in Sheldon?

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

Federal Program Unit Count
Low Income Housing Tax Credit 71
Section 8 Project-Based Rental Assistance 52
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Sheldon, Iowa

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

Income Based Apartments in Sheldon, Iowa

Sheldon features 83 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 Sheldon, Iowa

There are 23 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sheldon.

Housing Choice Vouchers in Sheldon, Iowa

On average, Section 8 Housing Choice vouchers pay Sheldon landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Sheldon.

The maximum amount a voucher would pay on behalf of a low-income tenant in Sheldon, Iowa for a two-bedroom apartment is between $776 and $948.

Sourced from federal housing data and AffordableHousingOnline.com research.