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Affordable Housing In Iola
Allen County, Kansas

4 Low Income Apartment Communities In Iola

River Valley Homes

308 McGuire Dr E
Iola, Kansas
$410
3 BR

Cedarbrook Estates

2700 N Cottonwood St
Iola, Kansas

217 N Washington Ave

217 N Washington Ave
Iola, Kansas

Townhouse East

217 North Street
Iola, Kansas
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Housing Authorities that serve Iola

Housing Authority Programs
Iola Housing Authority Public Housing
Southeast Kansas Community Action Program Section 8 Housing Choice Voucher (HCV); Mainstream Voucher

Guide To Affordable Housing in Iola, Kansas

There are 4 low income housing apartment communities offering 259 affordable apartments for rent in Iola, Kansas.

Income Based Apartments in Iola, Kansas

Iola features 205 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 Iola, Kansas

There are 54 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Iola.

Housing Choice Vouchers in Iola, Kansas

On average, Section 8 Housing Choice vouchers pay Iola landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Iola.

The maximum amount a voucher would pay on behalf of a low-income tenant in Iola, Kansas for a two-bedroom apartment is between $643 and $785.

2020 Iola, Kansas 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 $539 $542 $714 $890 $1,102
Payment Standard Range $485 to $593 $488 to $596 $643 to $785 $801 to $979 $992 to $1,212

Sourced from federal housing data and AffordableHousingOnline.com research.

Iola, KS Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 259
Total Housing Units with Rental Assistance 205
Percentage of Housing Units Occupied By Renters 40.87%
Average Renter Household Size 2.33
Average Household Size 2.34
Median Household Income $29,935 ±$8,431
Median Rent $530 ±$27
Percentage Of Renters Overburdened 41.11% ± 10.48pp
Total Population 5,602

Population and Household Demographics

Iola is a city in Allen County, Kansas with a population of 5,602. There are 2,256 households in the city with an average household size of 2.34 persons. 40.87% of households in Iola are renters.

Income and Rent Overburden in Iola

The median gross income for households in Iola is $29,935 a year, or $2,495 a month. The median rent for the city is $530 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Iola, a household making less than $1,767 a month would be considered overburdened when renting an apartment at or above the median rent. 41.11% of households who rent are overburdened in Iola.

Area Median Income In Iola

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 Iola, the AMI is calculated from all households within Allen County.

In Iola, HUD calculates the Area Median Income for a family of four as $61,600

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 Iola

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 Iola

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,600 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $42,650
50% of Median $22,650 $25,850 $29,100 $32,300 $34,900 $37,500 $40,100 $42,650
80% of Median $36,200 $41,400 $46,550 $51,700 $55,850 $60,000 $64,150 $68,250