Low Income Apartments and Affordable Housing For Rent in Excelsior, MN

Discover affordable housing in Excelsior where there are 1+ 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.

South Shore Park

255 Mill St, Excelsior, Minnesota 55331

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

What HUD offices serve Excelsior, 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 Excelsior, Minnesota.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Excelsior, Minnesota.

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

How many renters live in Excelsior, Minnesota?

The City of Excelsior has 2,257 people living in 1,059 households.

There are 1,126 renters living in 624 renter households in this City. Renters make up 49.89 percent of the population living in Excelsior.

What is the rental market like in Excelsior, Minnesota?

There are an estimated 1,331 housing units in the Excelsior area. Of these, 637 units are rental homes, making up 48 percent of the housing market. For every renter household in Excelsior, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Excelsior?

The rental vacancy rate in Excelsior 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 Excelsior for each bedroom size?

Occupied Rental Units by Size in Excelsior
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
33 393 147 51 0
Occupied Rental Units by Size in Excelsior

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

Among renter households in this market, 41 percent have housing cost burden. Further, 19 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 Excelsior

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 Excelsior, Minnesota

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

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 21 64 percent
One BR 292 74 percent
Two BR 141 96 percent
Rental Units Below FMR in Excelsior, Minnesota

How many affordable rental units are in Excelsior?

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

Federal Program Unit Count
Low Income Housing Tax Credit 67
Section 8 Project-Based Rental Assistance 67
Tracked Units by Federal Program in Excelsior, Minnesota

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

Income Based Apartments in Excelsior, Minnesota

Excelsior features 67 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 Excelsior, Minnesota

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Excelsior.

Housing Choice Vouchers in Excelsior, Minnesota

On average, Section 8 Housing Choice vouchers pay Excelsior landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Excelsior.

The maximum amount a voucher would pay on behalf of a low-income tenant in Excelsior, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.

Sourced from federal housing data and AffordableHousingOnline.com research.