What HUD offices serve Stephenson, 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 Stephenson.
How many renters live in Stephenson, Michigan?
The City of Stephenson has 933 people living in 343 households.
There are 219 renters living in 101 renter households in this City. Renters make up 23.47 percent of the population living in Stephenson.
What is the rental market like in Stephenson, Michigan?
There are an estimated 423 housing units in the Stephenson area. Of these, 112 units are rental homes, making up 26 percent of the housing market. For every renter household in Stephenson, Michigan, there are 1 rental units.
What is the vacancy rate for rentals in Stephenson?
The rental vacancy rate in Stephenson is 10 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 Stephenson for each bedroom size?
Occupied Rental Units by Size in Stephenson
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 11 | 30 | 15 | 37 | 8 |
Occupied Rental Units by Size in Stephenson
A large number of apartments in Stephenson 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 Stephenson are overburdened by housing costs?
Among renter households in this market, 41 percent have housing cost burden. Further, 23 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 Stephenson
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $652 to $1,357. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $652 |
| One BR | $728 |
| Two BR | $905 |
| Three BR | $1,275 |
| Four BR | $1,357 |
2024 Fair Market Rents in Stephenson, Michigan
How many units are rented at Fair Market Rent (FMR) in Stephenson?
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 | 9 | 82 percent |
| One BR | 30 | 100 percent |
| Two BR | 13 | 87 percent |
Rental Units Below FMR in Stephenson, Michigan
How many affordable rental units are in Stephenson?
There are a variety of federal affordable housing programs serving households in Stephenson, Michigan including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 1 |
| Section 202 Supportive Housing for the Elderly | 14 |
Tracked Units by Federal Program in Stephenson, Michigan
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Stephenson, Michigan
Stephenson features 32 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 Stephenson, Michigan
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Stephenson.
Housing Choice Vouchers in Stephenson, Michigan
On average, Section 8 Housing Choice vouchers pay Stephenson landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Stephenson.
The maximum amount a voucher would pay on behalf of a low-income tenant in Stephenson, Michigan for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
