Affordable Housing In Urbana
Benton County, Iowa

1 Low Income Apartment Communities In Urbana

Urbana Housing

306 W Main St
Urbana, IA
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Housing Authorities that serve Urbana

Housing Authority Programs
Cedar Rapids Housing Services Division Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Urbana, Iowa

There are 1 low income housing apartment communities offering 18 affordable apartments for rent in Urbana, Iowa. Urbana features 18 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Urbana.

Sourced from federal housing data and research.

Urbana, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 18
Total Housing Units with Rental Assistance 18
Percentage of Housing Units Occupied By Renters 12.79%
Average Renter Household Size 2.19
Average Household Size 2.68
Median Household Income $74,286 ±$6,820
Median Rent $661 ±$107
Percentage Of Renters Overburdened 32.84% ± 21.08pp
Total Population 1,402

Population and Household Demographics

Urbana is a City in Benton County, Iowa with a population of 1,402. There are 524 households in the city with an average household size of 2.68 persons. 12.79% of households in Urbana are renters.

Income and Rent Overburden in Urbana

The median gross income for households in Urbana is $74,286 a year, or $6,191 a month. The median rent for the city is $661 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Urbana, a household making less than $2,203 a month would be considered overburdened when renting an apartment at or above the median rent. 32.84% of households who rent are overburdened in Urbana.1

Area Median Income In Urbana

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 Urbana, the AMI is calculated from all households within Benton County.

In Urbana, HUD calculates the Area Median Income for a family of four as $82,700

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 Urbana

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 Urbana HUD Rental Assistance in Urbana

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,400 $19,850 $22,350 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $28,950 $33,100 $37,250 $41,350 $44,700 $48,000 $51,300 $54,600
80% of Median $46,350 $52,950 $59,550 $66,150 $71,450 $76,750 $82,050 $87,350
Fair Market Rents in Urbana

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$470 $535 $687 $882 $1,018