What HUD offices serve Good Thunder, 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 Good Thunder.
How many renters live in Good Thunder, Minnesota?
The City of Good Thunder has 474 people living in 226 households.
There are 51 renters living in 25 renter households in this City. Renters make up 10.76 percent of the population living in Good Thunder.
What is the rental market like in Good Thunder, Minnesota?
There are an estimated 247 housing units in the Good Thunder area. Of these, 25 units are rental homes, making up 10 percent of the housing market. For every renter household in Good Thunder, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Good Thunder?
The rental vacancy rate in Good Thunder is 0 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 Good Thunder for each bedroom size?
Occupied Rental Units by Size in Good Thunder
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 14 | 4 | 2 |
Occupied Rental Units by Size in Good Thunder
A large number of apartments in Good Thunder 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 Good Thunder are overburdened by housing costs?
Among renter households in this market, 24 percent have housing cost burden. Further, 16 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 Good Thunder
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $897 to $1,868. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $897 |
| One BR | $903 |
| Two BR | $1,101 |
| Three BR | $1,552 |
| Four BR | $1,868 |
2024 Fair Market Rents in Good Thunder, Minnesota
How many units are rented at Fair Market Rent (FMR) in Good Thunder?
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 |
| Two BR | 14 | 100 percent |
Rental Units Below FMR in Good Thunder, Minnesota
How many affordable rental units are in Good Thunder?
There are a variety of federal affordable housing programs serving households in Good Thunder, Minnesota including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 20 |
Tracked Units by Federal Program in Good Thunder, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Good Thunder, Minnesota
Good Thunder features 20 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 Good Thunder, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Good Thunder.
Housing Choice Vouchers in Good Thunder, Minnesota
On average, Section 8 Housing Choice vouchers pay Good Thunder landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Good Thunder.
The maximum amount a voucher would pay on behalf of a low-income tenant in Good Thunder, Minnesota for a two-bedroom apartment is between $991 and $1,211.
Sourced from federal housing data and AffordableHousingOnline.com research.
