Low Income Apartments and Affordable Housing For Rent in Buchanan, MI

Discover affordable housing in Buchanan where there are 2+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Metea Court Apartments

809 Rynearson Rd, Buchanan, Michigan 49107

Mill Pond Apartments

800 E Smith St, Buchanan, Michigan 49107

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Buchanan, Michigan
$20.17/hour
$9.84 (+95%) more than Michigan minimum wage and $12.92 (+178%) more than the Federal minimum wage.
Learn More About Buchanan, Michigan Affordable Housing ↓

What HUD offices serve Buchanan, Michigan?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Homeownership Voucher, Family Self-Sufficiency, Veteran Affairs Supportive Housing (VASH), Section 8 Project-Based Voucher (PBV) programs for Buchanan, Michigan.

Go to the Michigan Public Housing and Low-Income Apartments Waiting Lists page for openings near Buchanan.

How many renters live in Buchanan, Michigan?

The City of Buchanan has 4,276 people living in 1,867 households.

There are 1,763 renters living in 810 renter households in this City. Renters make up 41.23 percent of the population living in Buchanan.

What is the rental market like in Buchanan, Michigan?

There are an estimated 2,204 housing units in the Buchanan area. Of these, 886 units are rental homes, making up 40 percent of the housing market. For every renter household in Buchanan, Michigan, there are 1 rental units.

What is the vacancy rate for rentals in Buchanan?

The rental vacancy rate in Buchanan 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 Buchanan for each bedroom size?

Occupied Rental Units by Size in Buchanan
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
46 316 233 163 52
Occupied Rental Units by Size in Buchanan

A large number of apartments in Buchanan 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 Buchanan are overburdened by housing costs?

Among renter households in this market, 36 percent have housing cost burden. Further, 16 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 Buchanan

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $722 to $1,431. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $722
One BR $811
Two BR $1,065
Three BR $1,364
Four BR $1,431
2024 Fair Market Rents in Buchanan, Michigan

How many units are rented at Fair Market Rent (FMR) in Buchanan?

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 41 89 percent
One BR 230 73 percent
Two BR 214 92 percent
Rental Units Below FMR in Buchanan, Michigan

How many affordable rental units are in Buchanan?

There are a variety of federal affordable housing programs serving households in Buchanan, Michigan including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 80
Section 8 Project-Based Rental Assistance 50
Tracked Units by Federal Program in Buchanan, Michigan

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Buchanan, Michigan

Buchanan features 50 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 Buchanan, Michigan

There are 100 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Buchanan.

Housing Choice Vouchers in Buchanan, Michigan

On average, Section 8 Housing Choice vouchers pay Buchanan landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Buchanan.

The maximum amount a voucher would pay on behalf of a low-income tenant in Buchanan, Michigan for a two-bedroom apartment is between $959 and $1,172.

Sourced from federal housing data and AffordableHousingOnline.com research.