How many renters live in Canby, Minnesota?
The City of Canby has people living in households.
There are renters living in renter households in this City. Renters make up 13.12 percent of the population living in Canby.
What is the rental market like in Canby, Minnesota?
There are an estimated housing units in the Canby area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Canby, Minnesota, there are 1.24 rental units.
What is the vacancy rate for rentals in Canby?
The rental vacancy rate in Canby is 7 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 Canby for each bedroom size?
Occupied Rental Units by Size in Canby
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 38 | 64 | 25 | 0 |
Occupied Rental Units by Size in Canby
A large number of apartments in Canby have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Canby
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $613 to $1,205. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $613 |
| One BR | $689 |
| Two BR | $905 |
| Three BR | $1,094 |
| Four BR | $1,205 |
2024 Fair Market Rents in Canby, Minnesota
How many units are rented at Fair Market Rent (FMR) in Canby?
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 |
| One BR | 26 | 68 percent |
| Two BR | 50 | 78 percent |
Rental Units Below FMR in Canby, Minnesota
How many affordable rental units are in Canby?
There are a variety of federal affordable housing programs serving households in Canby, Minnesota including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Canby, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Canby, Minnesota
Canby features 50 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 Canby, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Canby.
Housing Choice Vouchers in Canby, Minnesota
On average, Section 8 Housing Choice vouchers pay Canby landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Canby.
The maximum amount a voucher would pay on behalf of a low-income tenant in Canby, Minnesota for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.