Affordable Housing In Deer River
Itasca County, Minnesota

2 Low Income Apartment Communities In Deer River

Timberwolf Townhomes

709 1st St NE
Deer River, MN
$500-770
2-3 BR
Accessible
HCV Welcome

Itasca County Apartments - Deer River

1022 Comstock Dr
Deer River, MN
62+
Subsidized
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Housing Authorities that serve Deer River

Housing Authority Programs
Itasca Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Deer River, Minnesota

According to federal housing data and AffordableHousingOnline.com research, there are 2 low income housing apartment communities offering 36 affordable apartments for rent in Deer River, Minnesota. Deer River features 16 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 20 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Deer River.

Deer River, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 36
Total Housing Units with Rental Assistance 16
Percentage of Housing Units Occupied By Renters 41.11%
Average Renter Household Size 1.85
Average Household Size 2.56
Median Household Income $26,875 ±$3,589
Median Rent $529 ±$46
Percentage Of Renters Overburdened 45.81% ± 17.61pp
Total Population 1,027

Population and Household Demographics

Deer River is a City in Itasca County, Minnesota with a population of 1,027. There are 377 households in the city with an average household size of 2.56 persons. 41.11% of households in Deer River are renters.

Income and Rent Overburden in Deer River

The median gross income for households in Deer River is $26,875 a year, or $2,240 a month. The median rent for the city is $529 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Deer River, a household making less than $1,763 a month would be considered overburdened when renting an apartment at or above the median rent. 45.81% of households who rent are overburdened in Deer River.1

Area Median Income In Deer River

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 Deer River, the AMI is calculated from all households within Itasca County.

In Deer River, HUD calculates the Area Median Income for a family of four as $61,600

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 Deer River

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 Deer River HUD Rental Assistance in Deer River

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
Low Income Housing Tax Credits in Deer River

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 2002 to 2002, 1 low income apartment communities containing 20 rental apartments have been constructed and made affordable to low income persons in Deer River by the Low Income Housing Tax Credit Program.

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 Deer River

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 Deer River 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 Deer River

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
$601 $605 $797 $993 $1,080