Low Income Apartments and Affordable Housing For Rent in Lake Crystal, MN

Discover affordable housing in Lake Crystal where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Lake Crystal Towers

203 S Main St, Lake Crystal, Minnesota 56055

Open Until Further Notice

Reported On February 23rd, 2024 by Chris Madden

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lake Crystal, Minnesota
$20.85/hour
$12.00 (+136%) more than Minnesota minimum wage and $13.60 (+188%) more than the Federal minimum wage.
Learn More About Lake Crystal, Minnesota Affordable Housing ↓

What HUD offices serve Lake Crystal, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Homeownership Voucher, Family Self-Sufficiency, Veteran Affairs Supportive Housing (VASH), Mainstream Voucher programs for Lake Crystal, Minnesota.
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Lake Crystal, Minnesota.

Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Lake Crystal.

How many renters live in Lake Crystal, Minnesota?

The City of Lake Crystal has 2,535 people living in 1,073 households.

There are 450 renters living in 225 renter households in this City. Renters make up 17.75 percent of the population living in Lake Crystal.

What is the rental market like in Lake Crystal, Minnesota?

There are an estimated 1,084 housing units in the Lake Crystal area. Of these, 225 units are rental homes, making up 21 percent of the housing market. For every renter household in Lake Crystal, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Lake Crystal?

The rental vacancy rate in Lake Crystal 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 Lake Crystal for each bedroom size?

Occupied Rental Units by Size in Lake Crystal
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
18 70 86 36 7
Occupied Rental Units by Size in Lake Crystal

A large number of apartments in Lake Crystal 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 Lake Crystal are overburdened by housing costs?

Among renter households in this market, 40 percent have housing cost burden. Further, 14 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 Lake Crystal

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 Lake Crystal, Minnesota

How many units are rented at Fair Market Rent (FMR) in Lake Crystal?

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 18 100 percent
One BR 64 91 percent
Two BR 69 80 percent
Rental Units Below FMR in Lake Crystal, Minnesota

How many affordable rental units are in Lake Crystal?

There are a variety of federal affordable housing programs serving households in Lake Crystal, Minnesota including the following:

Federal Program Unit Count
Public Housing 5
Section 8 Project-Based Rental Assistance 43
Tracked Units by Federal Program in Lake Crystal, Minnesota

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Lake Crystal, Minnesota

Lake Crystal features 43 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 Crystal, Minnesota

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Crystal.

Housing Choice Vouchers in Lake Crystal, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Crystal, Minnesota for a two-bedroom apartment is between $991 and $1,211.

Sourced from federal housing data and AffordableHousingOnline.com research.