Low Income Apartments and Affordable Housing For Rent in Cannon Falls, MN

Discover affordable housing in Cannon Falls where there are 6+ 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.

Bridge Run Townhomes

100 E State St, Cannon Falls, Minnesota 55009

Stonehouse Apartments

115 W Minnesota St , Cannon Falls, Minnesota 55009

Park Street Apartments

321 Park St W, Cannon Falls, Minnesota 55009

Freeborn Manor

224 Hoffman St W, Cannon Falls, Minnesota 55009

Woodknoll Apartments

100 S 9th St , Cannon Falls, Minnesota 55009

Rivers Edge Apartments

900 W Park St , Cannon Falls, Minnesota 55009

calendar_today Opened: Aug 7
calendar_today Closed: Feb 14,

Reported On January 24th, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Cannon Falls, Minnesota
$19.81/hour
$10.96 (+124%) more than Minnesota minimum wage and $12.56 (+173%) more than the Federal minimum wage.
Learn More About Cannon Falls, Minnesota Affordable Housing ↓

What HUD offices serve Cannon Falls, 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 Cannon Falls, Minnesota.

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

How many renters live in Cannon Falls, Minnesota?

The City of Cannon Falls has 4,214 people living in 1,775 households.

There are 683 renters living in 456 renter households in this City. Renters make up 16.21 percent of the population living in Cannon Falls.

What is the rental market like in Cannon Falls, Minnesota?

There are an estimated 1,858 housing units in the Cannon Falls area. Of these, 456 units are rental homes, making up 25 percent of the housing market. For every renter household in Cannon Falls, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Cannon Falls?

The rental vacancy rate in Cannon Falls is 0 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 Cannon Falls for each bedroom size?

Occupied Rental Units by Size in Cannon Falls
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 216 179 47 14
Occupied Rental Units by Size in Cannon Falls

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

Among renter households in this market, 35 percent have housing cost burden. Further, 16 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 Cannon Falls

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $737 to $1,775. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $737
One BR $874
Two BR $1,046
Three BR $1,474
Four BR $1,775
2024 Fair Market Rents in Cannon Falls, Minnesota

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

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 156 72 percent
Two BR 121 68 percent
Rental Units Below FMR in Cannon Falls, Minnesota

How many affordable rental units are in Cannon Falls?

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

Federal Program Unit Count
Low Income Housing Tax Credit 65
Public Housing 1
Section 8 Project-Based Rental Assistance 84
Tracked Units by Federal Program in Cannon Falls, Minnesota

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

Income Based Apartments in Cannon Falls, Minnesota

Cannon Falls features 123 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 Cannon Falls, Minnesota

There are 36 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cannon Falls.

Housing Choice Vouchers in Cannon Falls, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Cannon Falls, Minnesota for a two-bedroom apartment is between $941 and $1,151.

Sourced from federal housing data and AffordableHousingOnline.com research.