Low Income Apartments and Affordable Housing For Rent in Cambridge, MN

Discover affordable housing in Cambridge 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.

Legacy Townhomes

1227 Garland Street, Cambridge, Minnesota 55008

Normandy Townhomes

800 11th Ave SW, Cambridge, Minnesota 55008

Main Street Flats

312 Main Street North, Cambridge, Minnesota 55008

Cambridge Town Square

409 11th Ave SE, Cambridge, Minnesota 55008

Ashland Place Dellwood South

222 Ashland St N, Cambridge, Minnesota 55008

Towers Terrace Townhomes

912 Circle Dr, Cambridge, Minnesota 55008

Bridge Park Apartments

121 Fern St S, Cambridge, Minnesota 55008

Heritage Townhomes

South Fern Street and 17th Ave Sw, Cambridge, Minnesota

Town Square East

365 11th Ave SE, Cambridge, Minnesota 55008

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Cambridge, Minnesota
$30.72/hour
$21.87 (+247%) more than Minnesota minimum wage and $23.47 (+324%) more than the Federal minimum wage.
Learn More About Cambridge, Minnesota Affordable Housing ↓

What HUD offices serve Cambridge, Minnesota?

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), Public Housing programs for Cambridge, Minnesota.

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

How many renters live in Cambridge, Minnesota?

The City of Cambridge has 9,726 people living in 4,028 households.

There are 2,148 renters living in 1,277 renter households in this City. Renters make up 22.09 percent of the population living in Cambridge.

What is the rental market like in Cambridge, Minnesota?

There are an estimated 4,155 housing units in the Cambridge area. Of these, 1,339 units are rental homes, making up 32 percent of the housing market. For every renter household in Cambridge, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Cambridge?

The rental vacancy rate in Cambridge is 2 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 Cambridge for each bedroom size?

Occupied Rental Units by Size in Cambridge
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
15 280 814 99 69
Occupied Rental Units by Size in Cambridge

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

Among renter households in this market, 57 percent have housing cost burden. Further, 25 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 Cambridge

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,174 to $2,478. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,174
One BR $1,327
Two BR $1,622
Three BR $2,188
Four BR $2,478
2024 Fair Market Rents in Cambridge, Minnesota

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

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 8 53 percent
One BR 192 69 percent
Two BR 667 82 percent
Rental Units Below FMR in Cambridge, Minnesota

How many affordable rental units are in Cambridge?

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

Federal Program Unit Count
Low Income Housing Tax Credit 259
Public Housing 45
Section 8 Project-Based Rental Assistance 60
USDA Section 515 Rural Rental Housing 100
Tracked Units by Federal Program in Cambridge, Minnesota

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

Income Based Apartments in Cambridge, Minnesota

Cambridge features 205 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 Cambridge, Minnesota

There are 160 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cambridge.

Housing Choice Vouchers in Cambridge, Minnesota

On average, Section 8 Housing Choice vouchers pay Cambridge landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Cambridge.

The maximum amount a voucher would pay on behalf of a low-income tenant in Cambridge, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.

Sourced from federal housing data and AffordableHousingOnline.com research.