How many renters live in Sioux Rapids, Iowa?
The City of Sioux Rapids has 812 people living in 319 households.
There are 94 renters living in 53 renter households in this City. Renters make up 11.58 percent of the population living in Sioux Rapids.
What is the rental market like in Sioux Rapids, Iowa?
There are an estimated 377 housing units in the Sioux Rapids area. Of these, 77 units are rental homes, making up 20 percent of the housing market. For every renter household in Sioux Rapids, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Sioux Rapids?
The rental vacancy rate in Sioux Rapids is 31 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 Sioux Rapids for each bedroom size?
Occupied Rental Units by Size in Sioux Rapids
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 17 | 18 | 15 | 3 |
Occupied Rental Units by Size in Sioux Rapids
A large number of apartments in Sioux Rapids 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 Sioux Rapids are overburdened by housing costs?
Among renter households in this market, 13 percent have housing cost burden. Further, 4 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 Sioux Rapids
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $688 to $1,212. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $688 |
| One BR | $693 |
| Two BR | $910 |
| Three BR | $1,171 |
| Four BR | $1,212 |
2024 Fair Market Rents in Sioux Rapids, Iowa
How many units are rented at Fair Market Rent (FMR) in Sioux Rapids?
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 | 9 | 53 percent |
| Two BR | 16 | 89 percent |
Rental Units Below FMR in Sioux Rapids, Iowa
How many affordable rental units are in Sioux Rapids?
There are a variety of federal affordable housing programs serving households in Sioux Rapids, Iowa including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 24 |
Tracked Units by Federal Program in Sioux Rapids, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Sioux Rapids, Iowa
Sioux Rapids features 24 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 Sioux Rapids, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sioux Rapids.
Housing Choice Vouchers in Sioux Rapids, Iowa
On average, Section 8 Housing Choice vouchers pay Sioux Rapids landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Sioux Rapids.
The maximum amount a voucher would pay on behalf of a low-income tenant in Sioux Rapids, Iowa for a two-bedroom apartment is between $819 and $1,001.
Sourced from federal housing data and AffordableHousingOnline.com research.
