Affordable Housing Online is monitoring the federal government's response to the coronavirus disease (COVID-19) outbreak. As of March 13, 2020, Public Housing Agencies across the nation are closing their doors to the public. Most offices are still running and will communicate by phone, email, or mail. Some offices have drop boxes installed outside, so documents can still be hand-delivered. Visit the housing authority's website for the latest on its current operations, if one is available. If there is no information online, contact the housing authority directly. Due to a high volume of calls and modified office hours in most areas, expect a long wait time (days or weeks) for a response. To find your local PHA's contact info, browse by state here.

An extensive list of coronavirus resources for low-income households can be found here.

Affordable Housing In Waterloo
Black Hawk County, Iowa

22 Low Income Apartment Communities In Waterloo

Greenridge Family Apartments

1650 Camelot Dr
Waterloo, Iowa
Income Based
2 BR
Subsidized

Crossroads Square

1820 E Ridgeway Ave
Waterloo, Iowa
Income Based
1 BR
Subsidized

Camelot Apartments

1650 Camelot Dr
Waterloo, Iowa
Income Based
1 BR
Subsidized

Cedar River Towers

106 E 3rd Street
Waterloo, Iowa
Income Based
1 BR
Subsidized
62+
Accessible
Elderly Supportive Housing

Russell Lamson

209 W 5th St
Waterloo, Iowa
Accepts Vouchers

Legacy Manor of Waterloo

1050 Flammang Dr
Waterloo, Iowa
Accepts Vouchers
55+

Mt Village II Apartments

540 W Louise St
Waterloo, Iowa
Subsidized
62+
Accessible
Elderly Supportive Housing

Park Towers Apartments

500 Sycamore St
Waterloo, Iowa
Subsidized

Heritage Apartments

1306 W Donald St
Waterloo, Iowa
Subsidized

Renaissance Park Apartments

610 E 4th St
Waterloo, Iowa
Subsidized
62+
Accessible
Elderly Supportive Housing

Housing Authorities that serve Waterloo

Housing Authority Programs
Waterloo Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Waterloo, Iowa

There are 22 low income housing apartment communities offering 1,219 affordable apartments for rent in Waterloo, Iowa.

Income Based Apartments in Waterloo, Iowa

Waterloo features 682 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 Waterloo, Iowa

There are 537 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Waterloo.

Housing Choice Vouchers in Waterloo, Iowa

On average, Section 8 Housing Choice vouchers pay Waterloo landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Waterloo.

The maximum amount a voucher would pay on behalf of a low-income tenant in Waterloo, Iowa for a two-bedroom apartment is between $687 and $839.

2020 Waterloo, 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 $517 $604 $763 $996 $1,249
Payment Standard Range $465 to $569 $544 to $664 $687 to $839 $896 to $1,096 $1,124 to $1,374

Sourced from federal housing data and AffordableHousingOnline.com research.

Waterloo, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 22
Total Low Income Apartments 1,219
Total Housing Units with Rental Assistance 682
Percentage of Housing Units Occupied By Renters 35.85%
Average Renter Household Size 2.27
Average Household Size 2.37
Median Household Income $41,933 ±$1,307
Median Rent $672 ±$12
Percentage Of Renters Overburdened 49.56% ± 3.41pp
Total Population 68,432

Population and Household Demographics

Waterloo is a city in Black Hawk County, Iowa with a population of 68,432. There are 28,430 households in the city with an average household size of 2.37 persons. 35.85% of households in Waterloo are renters.

Income and Rent Overburden in Waterloo

The median gross income for households in Waterloo is $41,933 a year, or $3,494 a month. The median rent for the city is $672 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Waterloo, a household making less than $2,240 a month would be considered overburdened when renting an apartment at or above the median rent. 49.56% of households who rent are overburdened in Waterloo.

Area Median Income In Waterloo

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 Waterloo, the AMI is calculated from all households within Black Hawk County.

In Waterloo, HUD calculates the Area Median Income for a family of four as $71,600

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 Waterloo

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 Waterloo

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,250 $17,400 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $25,400 $29,000 $32,650 $36,250 $39,150 $42,050 $44,950 $47,850
80% of Median $40,600 $46,400 $52,200 $58,000 $62,650 $67,300 $71,950 $76,600