Affordable Housing In Biscay
McLeod County,
Minnesota
Housing Authorities that serve Biscay
| Housing Authority | Programs |
|---|---|
| Kandiyohi County Housing and Redevelopment Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
| McLeod County Housing and Redevelopment Authority | Section 8 Housing Choice Voucher (HCV) |
Guide To Affordable Housing in Biscay, Minnesota
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Biscay, Minnesota.
Income Based Apartments in Biscay, Minnesota
Biscay features 0 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 Biscay, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Biscay.
Housing Choice Vouchers in Biscay, Minnesota
On average, Section 8 Housing Choice vouchers pay Biscay landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Biscay.
The maximum amount a voucher would pay on behalf of a low-income tenant in Biscay, Minnesota for a two-bedroom apartment is between $672 and $822.
2021 Biscay, Minnesota Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| Biscay, Minnesota Fair Market Rent | $493 | $567 | $747 | $1,069 | $1,284 |
| Biscay, Minnesota Payment Standard Range | $444 to $542 | $510 to $624 | $672 to $822 | $962 to $1,176 | $1,156 to $1,412 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Biscay, MN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 0 |
|---|---|
| Total Low Income Apartments | 0 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 3.03% |
| Average Renter Household Size | 2.00 |
| Average Household Size | 2.06 |
| Median Household Income | $46,250 ±$16,667 |
| Median Rent | $0 ±$0 |
| Percentage Of Renters Overburdened | 0% ± 1800pp |
| Total Population | 68 |
Population and Household Demographics
Biscay is a city in McLeod County, Minnesota with a population of 68. There are 33 households in the city with an average household size of 2.06 persons. 3.03% of households in Biscay are renters.
Income and Rent Overburden in Biscay
The median gross income for households in Biscay is $46,250 a year, or $3,854 a month. The median rent for the city is $0 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Biscay, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 0% of households who rent are overburdened in Biscay.
Area Median Income In Biscay
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.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Biscay, the AMI is calculated from all households within McLeod County.
In Biscay, HUD calculates the Area Median Income for a family of four as $76,400
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 Biscay
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 HUD Rental Assistance in Biscay
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Biscay AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$16,050 | $18,350 | $21,720 | $26,200 | $30,680 | $35,160 | $39,640 | $44,120 |
| 50% AMI Income Limits Renters earning up to 50% of the Biscay AMI may qualify for rental assistance programs that target Very Low Income households. |
$26,750 | $30,600 | $34,400 | $38,200 | $41,300 | $44,350 | $47,400 | $50,450 |
| 80% AMI Income Limits Renters earning up to 80% of the Biscay AMI may qualify for rental assistance programs that target Low Income households. |
$42,800 | $48,900 | $55,000 | $61,100 | $66,000 | $70,900 | $75,800 | $80,700 |
