What HUD offices serve Romeo, 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.
Go to the Michigan Public Housing and Low-Income Apartments Waiting Lists page for openings near Romeo.
How many renters live in Romeo, Michigan?
The City of Romeo has 3,727 people living in 1,834 households.
There are 1,226 renters living in 675 renter households in this City. Renters make up 32.9 percent of the population living in Romeo.
What is the rental market like in Romeo, Michigan?
There are an estimated 1,834 housing units in the Romeo area. Of these, 675 units are rental homes, making up 37 percent of the housing market. For every renter household in Romeo, Michigan, there are 1 rental units.
What is the vacancy rate for rentals in Romeo?
The rental vacancy rate in Romeo 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 Romeo for each bedroom size?
Occupied Rental Units by Size in Romeo
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 29 | 197 | 375 | 74 | 0 |
Occupied Rental Units by Size in Romeo
A large number of apartments in Romeo 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 Romeo are overburdened by housing costs?
Among renter households in this market, 18 percent have housing cost burden. Further, 15 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 Romeo
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $920 to $1,719. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $920 |
| One BR | $1,019 |
| Two BR | $1,291 |
| Three BR | $1,595 |
| Four BR | $1,719 |
2024 Fair Market Rents in Romeo, Michigan
How many units are rented at Fair Market Rent (FMR) in Romeo?
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 | 26 | 90 percent |
| One BR | 155 | 79 percent |
| Two BR | 320 | 85 percent |
Rental Units Below FMR in Romeo, Michigan
How many affordable rental units are in Romeo?
There are a variety of federal affordable housing programs serving households in Romeo, Michigan including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 20 |
| Section 8 Project-Based Rental Assistance | 130 |
Tracked Units by Federal Program in Romeo, Michigan
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Romeo, Michigan
Romeo features 194 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 Romeo, Michigan
There are 64 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Romeo.
Housing Choice Vouchers in Romeo, Michigan
On average, Section 8 Housing Choice vouchers pay Romeo landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Romeo.
The maximum amount a voucher would pay on behalf of a low-income tenant in Romeo, Michigan for a two-bedroom apartment is between $1,162 and $1,420.
Sourced from federal housing data and AffordableHousingOnline.com research.
