What HUD offices serve Golden Valley, 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 Golden Valley.
How many renters live in Golden Valley, Minnesota?
The City of Golden Valley has 22,142 people living in 9,778 households.
There are 5,122 renters living in 2,790 renter households in this City. Renters make up 23.13 percent of the population living in Golden Valley.
What is the rental market like in Golden Valley, Minnesota?
There are an estimated 10,269 housing units in the Golden Valley area. Of these, 2,945 units are rental homes, making up 29 percent of the housing market. For every renter household in Golden Valley, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Golden Valley?
The rental vacancy rate in Golden Valley is 5 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 Golden Valley for each bedroom size?
Occupied Rental Units by Size in Golden Valley
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 180 | 1,243 | 1,033 | 161 | 158 |
Occupied Rental Units by Size in Golden Valley
A large number of apartments in Golden Valley 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 Golden Valley are overburdened by housing costs?
Among renter households in this market, 47 percent have housing cost burden. Further, 21 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 Golden Valley
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 Golden Valley, Minnesota
How many units are rented at Fair Market Rent (FMR) in Golden Valley?
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 | 44 | 24 percent |
| One BR | 591 | 48 percent |
| Two BR | 413 | 40 percent |
Rental Units Below FMR in Golden Valley, Minnesota
How many affordable rental units are in Golden Valley?
There are a variety of federal affordable housing programs serving households in Golden Valley, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 453 |
| Public Housing | 4 |
| Section 8 Project-Based Rental Assistance | 284 |
| Section 811 Supportive Housing for Persons with Disabilities | 7 |
Tracked Units by Federal Program in Golden Valley, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Golden Valley, Minnesota
Golden Valley features 357 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 Golden Valley, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Golden Valley.
Housing Choice Vouchers in Golden Valley, Minnesota
On average, Section 8 Housing Choice vouchers pay Golden Valley landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in Golden Valley.
The maximum amount a voucher would pay on behalf of a low-income tenant in Golden Valley, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.
Sourced from federal housing data and AffordableHousingOnline.com research.
