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Affordable Housing In Lester Prairie
McLeod County, Minnesota

1 Low Income Apartment Communities In Lester Prairie

Prairie Manor

201 Elm St N
Lester Prairie, Minnesota
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Housing Authorities that serve Lester Prairie

Housing Authority Programs
Kandiyohi County Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV); Public Housing
McLeod County Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Lester Prairie, Minnesota

There are 1 low income housing apartment communities offering 12 affordable apartments for rent in Lester Prairie, Minnesota.

Income Based Apartments in Lester Prairie, Minnesota

Lester Prairie features 0 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 Lester Prairie, Minnesota

There are 12 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lester Prairie.

Housing Choice Vouchers in Lester Prairie, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Lester Prairie, Minnesota for a two-bedroom apartment is between $698 and $854.

2020 Lester Prairie, Minnesota Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $512 $589 $776 $1,119 $1,280
Payment Standard Range $461 to $563 $530 to $648 $698 to $854 $1,007 to $1,231 $1,152 to $1,408

Sourced from federal housing data and AffordableHousingOnline.com research.

Lester Prairie, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 12
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 23.07%
Average Renter Household Size 2.20
Average Household Size 2.64
Median Household Income $51,705 ±$7,728
Median Rent $509 ±$138
Percentage Of Renters Overburdened 42.11% ± 17.79pp
Total Population 1,737

Population and Household Demographics

Lester Prairie is a city in McLeod County, Minnesota with a population of 1,737. There are 659 households in the city with an average household size of 2.64 persons. 23.07% of households in Lester Prairie are renters.

Income and Rent Overburden in Lester Prairie

The median gross income for households in Lester Prairie is $51,705 a year, or $4,309 a month. The median rent for the city is $509 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lester Prairie, a household making less than $1,697 a month would be considered overburdened when renting an apartment at or above the median rent. 42.11% of households who rent are overburdened in Lester Prairie.

Area Median Income In Lester Prairie

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Lester Prairie, the AMI is calculated from all households within McLeod County.

In Lester Prairie, HUD calculates the Area Median Income for a family of four as $76,400

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Lester Prairie

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Lester Prairie

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,050 $18,350 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $26,750 $30,600 $34,400 $38,200 $41,300 $44,350 $47,400 $50,450
80% of Median $42,800 $48,900 $55,000 $61,100 $66,000 $70,900 $75,800 $80,700