Low Income Apartments and Affordable Housing For Rent in Indian River, MI

Discover affordable housing in Indian River 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.

South Pointe I, II, III

5365 S Straits , Indian River, Michigan 49749

South Pointe Apartments III

5365 S Straits Hwy, Indian River, Michigan 49749

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Indian River, Michigan
$18.92/hour
$8.59 (+83%) more than Michigan minimum wage and $11.67 (+161%) more than the Federal minimum wage.
Learn More About Indian River, Michigan Affordable Housing ↓

What HUD offices serve Indian River, 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 Indian River, Michigan.

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

How many renters live in Indian River, Michigan?

The City of Indian River has 2,076 people living in 1,013 households.

There are 388 renters living in 201 renter households in this City. Renters make up 18.69 percent of the population living in Indian River.

What is the rental market like in Indian River, Michigan?

There are an estimated 1,894 housing units in the Indian River area. Of these, 201 units are rental homes, making up 11 percent of the housing market. For every renter household in Indian River, Michigan, there are 1 rental units.

What is the vacancy rate for rentals in Indian River?

The rental vacancy rate in Indian River is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Indian River for each bedroom size?

Occupied Rental Units by Size in Indian River
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 52 92 28 29
Occupied Rental Units by Size in Indian River

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

Among renter households in this market, 66 percent have housing cost burden. Further, 33 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 Indian River

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $677 to $1,330. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $677
One BR $760
Two BR $999
Three BR $1,208
Four BR $1,330
2024 Fair Market Rents in Indian River, Michigan

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

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
One BR 40 77 percent
Two BR 92 100 percent
Rental Units Below FMR in Indian River, Michigan

How many affordable rental units are in Indian River?

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

Federal Program Unit Count
Low Income Housing Tax Credit 48
USDA Section 515 Rural Rental Housing 48
Tracked Units by Federal Program in Indian River, Michigan

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

Income Based Apartments in Indian River, Michigan

Indian River features 16 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 Indian River, Michigan

There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Indian River.

Housing Choice Vouchers in Indian River, Michigan

On average, Section 8 Housing Choice vouchers pay Indian River landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Indian River.

The maximum amount a voucher would pay on behalf of a low-income tenant in Indian River, Michigan for a two-bedroom apartment is between $899 and $1,099.

Sourced from federal housing data and AffordableHousingOnline.com research.