Low Income Apartments and Affordable Housing For Rent in Elk River, MN

Discover affordable housing in Elk River where there are 10+ 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.

Elk Ridge Manor

847 Freeport Ave , Elk River, Minnesota 55330

Jackson Place

300 Jackson Place NW, Elk River, Minnesota 55330

Elk Terrace Senior Apartments

385 Holt Ave NW, Elk River, Minnesota 55330

Coachman Ridge Apartments

17250 Twin Lake Rd NW, Elk River, Minnesota 55330

Auburn Place Apartments

631 Auburn Pl NW, Elk River, Minnesota 55330

Guardian Angels Homes, Inc

350 Evans Ave NW, Elk River, Minnesota 55330

Elk Ridge Lodge

19522 Holt Street NW, Elk River, Minnesota 55330

Dove Terrace Apartments

1227 School St NW, Elk River, Minnesota 55330

Dove Tree Apartments

1105 Lions Park Dr NW, Elk River, Minnesota 55330

Depot at Elk River Station

10653 172nd Ave NW, Elk River, Minnesota 55330

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Elk River, 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 Elk River, Minnesota Affordable Housing ↓

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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Elk River, Minnesota.

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 25,936 people living in 9,449 households.

There are 3,901 renters living in 2,029 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 9,876 housing units in the Elk River area. Of these, 2,111 units are rental homes, making up 21 percent of the housing market. For every renter household in Elk River, Minnesota, there are 1 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 many renter households in Elk River are overburdened by housing costs?

Among renter households in this market, 38 percent have housing cost burden. Further, 11 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 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 341
Section 8 Project-Based Rental Assistance 95
Section 202 Supportive Housing for the Elderly 53
USDA Section 515 Rural Rental Housing 87
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.