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

Discover affordable housing in Owosso where there are 9+ 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.

Lincoln House

120 Michigan Ave, Owosso, Michigan 48867

Kona Villa

1299 S Shiawassee St , Owosso, Michigan 48867

Orchard Place Manor Senior Apartments

219 Cleveland Ave, Owosso, Michigan 48867

Ginger Square Apartments

1200 Penbrook Dr, Owosso, Michigan 48867

Greenwood Apartments

1055 E North St, Owosso, Michigan 48867

Cider Mill Apartments

1870 Babcock St, Owosso, Michigan 48867

Stoney Creek Village Apartments

1694 N M 52, Owosso, Michigan 48867

Cider Mill Apartments

1850 Babcock St, Owosso, Michigan 48867

Kiwanis Village

1464 N M 52, Owosso, Michigan 48867

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Owosso, Michigan
$17.14/hour
$6.81 (+66%) more than Michigan minimum wage and $9.89 (+136%) more than the Federal minimum wage.
Learn More About Owosso, Michigan Affordable Housing ↓

What HUD offices serve Owosso, 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 Owosso, Michigan.

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

How many renters live in Owosso, Michigan?

The City of Owosso has 14,678 people living in 6,307 households.

There are 4,641 renters living in 2,273 renter households in this City. Renters make up 31.62 percent of the population living in Owosso.

What is the rental market like in Owosso, Michigan?

There are an estimated 6,978 housing units in the Owosso area. Of these, 2,477 units are rental homes, making up 35 percent of the housing market. For every renter household in Owosso, Michigan, there are 1 rental units.

What is the vacancy rate for rentals in Owosso?

The rental vacancy rate in Owosso is 6 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 Owosso for each bedroom size?

Occupied Rental Units by Size in Owosso
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
214 496 925 554 66
Occupied Rental Units by Size in Owosso

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

Among renter households in this market, 49 percent have housing cost burden. Further, 22 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 Owosso

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $684 to $1,278. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $684
One BR $689
Two BR $905
Three BR $1,221
Four BR $1,278
2024 Fair Market Rents in Owosso, Michigan

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

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 151 71 percent
One BR 356 72 percent
Two BR 527 57 percent
Rental Units Below FMR in Owosso, Michigan

How many affordable rental units are in Owosso?

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

Federal Program Unit Count
Low Income Housing Tax Credit 256
Section 8 Project-Based Rental Assistance 273
Tracked Units by Federal Program in Owosso, Michigan

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

Income Based Apartments in Owosso, Michigan

Owosso features 437 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 Owosso, Michigan

There are 39 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Owosso.

Housing Choice Vouchers in Owosso, Michigan

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Owosso, Michigan for a two-bedroom apartment is between $815 and $996.

Sourced from federal housing data and AffordableHousingOnline.com research.