How many renters live in Hardwick, Minnesota?
The City of Hardwick has 171 people living in 82 households.
There are 76 renters living in 36 renter households in this City. Renters make up 44.44 percent of the population living in Hardwick.
What is the rental market like in Hardwick, Minnesota?
There are an estimated 96 housing units in the Hardwick area. Of these, 37 units are rental homes, making up 39 percent of the housing market. For every renter household in Hardwick, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Hardwick?
The rental vacancy rate in Hardwick is 3 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 Hardwick for each bedroom size?
Occupied Rental Units by Size in Hardwick
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 10 | 12 | 3 | 11 |
Occupied Rental Units by Size in Hardwick
A large number of apartments in Hardwick 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 Hardwick are overburdened by housing costs?
Among renter households in this market, 58 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 Hardwick
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $638 to $1,314. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $638 |
| One BR | $716 |
| Two BR | $941 |
| Three BR | $1,247 |
| Four BR | $1,314 |
2024 Fair Market Rents in Hardwick, Minnesota
How many units are rented at Fair Market Rent (FMR) in Hardwick?
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 |
| One BR | 10 | 100 percent |
| Two BR | 12 | 100 percent |
Rental Units Below FMR in Hardwick, Minnesota
How many affordable rental units are in Hardwick?
Income Based Apartments in Hardwick, Minnesota
Hardwick features 8 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 Hardwick, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hardwick.
Housing Choice Vouchers in Hardwick, Minnesota
On average, Section 8 Housing Choice vouchers pay Hardwick landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Hardwick.
The maximum amount a voucher would pay on behalf of a low-income tenant in Hardwick, Minnesota for a two-bedroom apartment is between $847 and $1,035.
Sourced from federal housing data and AffordableHousingOnline.com research.
