How many renters live in Storm Lake, Iowa?
The City of Storm Lake has people living in households.
There are renters living in renter households in this City. Renters make up 26.28 percent of the population living in Storm Lake.
What is the rental market like in Storm Lake, Iowa?
There are an estimated housing units in the Storm Lake area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Storm Lake, Iowa, there are 1.1 rental units.
What is the vacancy rate for rentals in Storm Lake?
The rental vacancy rate in Storm Lake is 9 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 Storm Lake for each bedroom size?
Occupied Rental Units by Size in Storm Lake
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 200 | 645 | 661 | 66 | 32 |
Occupied Rental Units by Size in Storm Lake
A large number of apartments in Storm Lake have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many units are rented at Fair Market Rent (FMR) in Storm Lake?
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 |
| Studio | 153 | 77 percent |
| One BR | 338 | 52 percent |
| Two BR | 378 | 57 percent |
Rental Units Below FMR in Storm Lake, Iowa
How many affordable rental units are in Storm Lake?
There are a variety of federal affordable housing programs serving households in Storm Lake, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| Section 811 Supportive Housing for Persons with Disabilities |
Tracked Units by Federal Program in Storm Lake, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Storm Lake, Iowa
Storm Lake features 131 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 Storm Lake, Iowa
There are 122 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Storm Lake.
Housing Choice Vouchers in Storm Lake, Iowa
On average, Section 8 Housing Choice vouchers pay Storm Lake landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Storm Lake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Storm Lake, Iowa for a two-bedroom apartment is between $819 and $1,001.
Sourced from federal housing data and AffordableHousingOnline.com research.