What HUD offices serve Lake Benton, 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 Lake Benton.
How many renters live in Lake Benton, Minnesota?
The City of Lake Benton has people living in households.
There are renters living in renter households in this City. Renters make up 19.15 percent of the population living in Lake Benton.
What is the rental market like in Lake Benton, Minnesota?
There are an estimated housing units in the Lake Benton area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Lake Benton, Minnesota, there are 1.13 rental units.
What is the vacancy rate for rentals in Lake Benton?
The rental vacancy rate in Lake Benton is 12 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Lake Benton for each bedroom size?
Occupied Rental Units by Size in Lake Benton
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 45 | 28 | 3 | 6 |
Occupied Rental Units by Size in Lake Benton
A large number of apartments in Lake Benton have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Lake Benton
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $613 to $1,309. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $613 |
| One BR | $689 |
| Two BR | $905 |
| Three BR | $1,231 |
| Four BR | $1,309 |
2024 Fair Market Rents in Lake Benton, Minnesota
How many units are rented at Fair Market Rent (FMR) in Lake Benton?
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 | 38 | 84 percent |
| Two BR | 13 | 46 percent |
Rental Units Below FMR in Lake Benton, Minnesota
How many affordable rental units are in Lake Benton?
There are a variety of federal affordable housing programs serving households in Lake Benton, Minnesota including the following:
| Federal Program | Unit Count |
| Public Housing |
Tracked Units by Federal Program in Lake Benton, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Lake Benton, Minnesota
Lake Benton features 41 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 Lake Benton, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Benton.
Housing Choice Vouchers in Lake Benton, Minnesota
On average, Section 8 Housing Choice vouchers pay Lake Benton landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Lake Benton.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Benton, Minnesota for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.