Affordable Housing In Lester Prairie
1 Low Income Apartment Communities In Lester Prairie
Housing Authorities that serve Lester Prairie
|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 $672 and $822.
2021 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|
|Lester Prairie, Minnesota Fair Market Rent||$493||$567||$747||$1,069||$1,284|
|Lester Prairie, Minnesota Payment Standard Range||$444 to $542||$510 to $624||$672 to $822||$962 to $1,176||$1,156 to $1,412|
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|
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
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Lester Prairie AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Lester Prairie AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Lester Prairie AMI may qualify for rental assistance programs that target Low Income households.