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Affordable Housing In Fisher
Polk County, Minnesota

2 Low Income Apartment Communities In Fisher

Targeted Home 96 - Th - 2208

408 Thompson Ave
Fisher, Minnesota

Fisher Townhomes

505 Thompson Ave
Fisher, Minnesota
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Housing Authorities that serve Fisher

Housing Authority Programs
Northwest Minnesota Multi-County Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Fisher, Minnesota

There are 2 low income housing apartment communities offering 20 affordable apartments for rent in Fisher, Minnesota.

Income Based Apartments in Fisher, Minnesota

Fisher features 0 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 Fisher, Minnesota

There are 20 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fisher.

Housing Choice Vouchers in Fisher, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Fisher, Minnesota for a two-bedroom apartment is between $749 and $915.

2020 Fisher, Minnesota Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $570 $650 $832 $1,200 $1,461
Payment Standard Range $513 to $627 $585 to $715 $749 to $915 $1,080 to $1,320 $1,315 to $1,607

Sourced from federal housing data and AffordableHousingOnline.com research.

Fisher, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 20
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 32.76%
Average Renter Household Size 2.28
Average Household Size 2.67
Median Household Income $55,714 ±$9,112
Median Rent $580 ±$33
Percentage Of Renters Overburdened 22.81% ± 14.69pp
Total Population 464

Population and Household Demographics

Fisher is a city in Polk County, Minnesota with a population of 464. There are 174 households in the city with an average household size of 2.67 persons. 32.76% of households in Fisher are renters.

Income and Rent Overburden in Fisher

The median gross income for households in Fisher is $55,714 a year, or $4,643 a month. The median rent for the city is $580 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Fisher, a household making less than $1,933 a month would be considered overburdened when renting an apartment at or above the median rent. 22.81% of households who rent are overburdened in Fisher.

Area Median Income In Fisher

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 Fisher, the AMI is calculated from all households within Polk County.

In Fisher, HUD calculates the Area Median Income for a family of four as $89,200

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 Fisher

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 HUD Rental Assistance in Fisher

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $18,550 $21,200 $23,850 $26,500 $30,680 $35,160 $39,640 $44,120
50% of Median $30,950 $35,400 $39,800 $44,200 $47,750 $51,300 $54,850 $58,350
80% of Median $49,500 $56,600 $63,650 $70,700 $76,400 $82,050 $87,700 $93,350