What HUD offices serve Elk River, 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.
Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Elk River.
How many renters live in Elk River, Minnesota?
The City of Elk River has people living in households.
There are renters living in renter households in this City. Renters make up 15.04 percent of the population living in Elk River.
What is the rental market like in Elk River, Minnesota?
There are an estimated housing units in the Elk River area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Elk River, Minnesota, there are 1.04 rental units.
What is the vacancy rate for rentals in Elk River?
The rental vacancy rate in Elk River 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 Elk River for each bedroom size?
Occupied Rental Units by Size in Elk River
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 176 | 489 | 794 | 408 | 142 |
Occupied Rental Units by Size in Elk River
A large number of apartments in Elk River 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 Elk River
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 Elk River, Minnesota
How many units are rented at Fair Market Rent (FMR) in Elk River?
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 | 167 | 95 percent |
| One BR | 309 | 63 percent |
| Two BR | 597 | 75 percent |
Rental Units Below FMR in Elk River, Minnesota
How many affordable rental units are in Elk River?
There are a variety of federal affordable housing programs serving households in Elk River, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Elk River, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Elk River, Minnesota
Elk River features 190 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 Elk River, Minnesota
There are 255 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Elk River.
Housing Choice Vouchers in Elk River, Minnesota
On average, Section 8 Housing Choice vouchers pay Elk River landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Elk River.
The maximum amount a voucher would pay on behalf of a low-income tenant in Elk River, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.
Sourced from federal housing data and AffordableHousingOnline.com research.