Affordable Housing In Big Stone County
Minnesota

3 Low Income Apartment Communities In Big Stone County

Beardsley Apartments

210 4th Ave W
Beardsley, MN
Subsidized

Bay View Housing - Orr

Bay View Housing
Orr, MN
HCV Welcome

Lakeside Apartments

301 1st St NW
Ortonville, MN
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Housing Authorities that serve Big Stone County

Housing Authority Programs
Big Stone County Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Big Stone County, Minnesota

There are 3 low income housing apartment communities offering 87 affordable apartments for rent in Big Stone County, Minnesota. Big Stone County features 75 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 12 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Big Stone County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Big Stone County, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 87
Total Housing Units with Rental Assistance 75
Percentage of Housing Units Occupied By Renters 20.99%
Average Renter Household Size 1.71
Average Household Size 2.18
Median Household Income $47,794 ±$3,309
Median Rent $508 ±$64
Percentage Of Renters Overburdened 40.71% ± 12.87pp
Total Population 5,134

Population and Household Demographics

Big Stone County is a County in Minnesota with a population of 5,134. There are 2,282 households in the county with an average household size of 2.18 persons. 20.99% of households in Big Stone County are renters.

Income and Rent Overburden in Big Stone County

The median gross income for households in Big Stone County is $47,794 a year, or $3,983 a month. The median rent for the county is $508 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Big Stone County, a household making less than $1,693 a month would be considered overburdened when renting an apartment at or above the median rent. 40.71% of households who rent are overburdened in Big Stone County.1

Area Median Income In Big Stone County

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

In Big Stone County, HUD calculates the Area Median Income for a family of four as $67,200

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Big Stone County

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Big Stone County HUD Rental Assistance in Big Stone County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,200 $17,400 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $25,350 $29,000 $32,600 $36,200 $39,100 $42,000 $44,900 $47,800
80% of Median $40,550 $46,350 $52,150 $57,900 $62,550 $67,200 $71,800 $76,450

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Big Stone County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $25,350 $29,000 $32,600 $36,200 $39,100 $42,000 $44,900 $47,800
60% of Median $30,420 $34,800 $39,120 $43,440 $46,920 $50,400 $53,880 $57,360

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Big Stone County is $39,120 a year, or $3,260 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,260 by 30% to get a maximum rent of $978 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $634 $679 $815 $941 $1,050 $1,159
60% $761 $815 $978 $1,130 $1,260 $1,391
Fair Market Rents in Big Stone County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$471 $542 $714 $1,002 $1,006

Cities In Big Stone County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Ortonville 1 The HUD funded Public Housing Agency that serves Ortonville is the Big Stone County Housing and Redevelopment Authority.
Graceville 0 The HUD funded Public Housing Agency that serves Graceville is the Big Stone County Housing and Redevelopment Authority.
Beardsley 1 The HUD funded Public Housing Agency that serves Beardsley is the Big Stone County Housing and Redevelopment Authority.
Clinton 0 The HUD funded Public Housing Agency that serves Clinton is the Big Stone County Housing and Redevelopment Authority.
Orr 1
Akron 0
Almond 0
Artichoke 0
Barry 0
Big Stone 0
Browns Valley 0
Correll 0
Foster 0
Gracevilleship 0
Johnson 0
Malta 0
Moonshine 0
Odessa 0
Odessaship 0
Ortonvilleship 0
Otrey 0
Prior 0
Toqua 0