Cheap Apartments In Minneapolis
Hennepin County, Minnesota

Low Income Apartments In Minneapolis

Lake Street Station

2220 East Lake Street
Minneapolis, MN
$970-1,110
1-2 BR
55+
HCV Welcome

The Maryland

1346 Lasalle Avenue
Minneapolis, MN
$746-996
Studio-2 BR
Subsidized

Buri Manor

1515 Chicago Avenue
Minneapolis, MN
$750
Studio BR
Accessible

Stonehouse Square Apartments

215 Broadway Street NE
Minneapolis, MN
$846-1,302
Studio-2 BR
Subsidized

East Village

1423 11th Ave S
Minneapolis, MN
$800-950
Studio-2 BR
HCV Welcome

Audubon Crossing

951 Lowry Ave NE
Minneapolis, MN
$722-1,000
1-3 BR

The Wellstone

620 E Franklin Avenue
Minneapolis, MN
$675-980
Studio-3 BR
HCV Welcome

Parkview Villa

965 40th Ave NE
Minneapolis, MN
$828-830
1-2 BR
55+

The Jourdain

2006 Portland Avenue South
Minneapolis, MN
$576-874
Studio-2 BR
HCV Welcome

The Adams

500 South 10th Street
Minneapolis, MN
$442-725
Studio-1 BR

There are 184 low income housing apartment complexes which contain 22,139 affordable apartments for rent in Minneapolis, Minnesota. Many of these rental apartments are income based housing with about 13,557 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 5,498 Project-Based Section 8 subsidized apartments in Minneapolis. There are 9,987 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Minneapolis

Housing Authority Programs
Minneapolis Public Housing Authority Section 8 Housing Choice Voucher; Public Housing
Mental Health Resources Section 8 Housing Choice Voucher

Understanding Affordable Housing in Minneapolis, Minnesota

Minneapolis, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 184
Total Low Income Apartments 22,139
Total Rent Assisted Apartments 13,557
Percentage of Housing Units Occupied By Renters 51.94%
Average Renter Household Size 2.16
Total Population 399,950
Housing Units 168,385
Average Household Size 2.27
Median Household Income $51,480 ±$610
Median Rent $869 ±$9
Percentage Of Renters Overburdened 47.79% ± 1.34pp

Population and Household Demographics

Minneapolis is a City in Hennepin County, Minnesota with a population of 399,950. There are 168,385 households in the city with an average household size of 2.27 persons. 51.94% of households in Minneapolis are renters.

Income and Rent Overburden in Minneapolis

The median gross income for households in Minneapolis is $51,480 a year, or $4,290 a month. The median rent for the city is $869 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Minneapolis, a household making less than $2,897 a month would be considered overburdened when renting an apartment at or above the median rent. 47.79% of households who rent are overburdened in Minneapolis.1

Data derived from 2010 Census and 2015 5-Year American Community Survey. Learn More.
1 Margin of Error: ± 1.34 percentage points.

Area Median Income In Minneapolis

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 Minneapolis, the AMI is calculated from all households within Hennepin County.

In Minneapolis, HUD calculates the Area Median Income for a family of four as $94,300

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 Minneapolis

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 Minneapolis HUD Rental Assistance in Minneapolis

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $19,850 $22,650 $25,500 $28,300 $30,600 $33,740 $38,060 $42,380
50% of Median $33,050 $37,750 $42,450 $47,150 $50,950 $54,700 $58,500 $62,250
80% of Median $50,350 $57,550 $64,750 $71,900 $77,700 $83,450 $89,200 $94,950

You can identify apartment communities that participate in a program that provides rental assistance by looking for the tags in the apartment list above. View Apartments.

Low Income Housing Tax Credits in Minneapolis

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1987 to 2012, 83 low income apartment communities containing 6,032 rental apartments have been constructed and made affordable to low income persons in Minneapolis by the Low Income Housing Tax Credit Program.

You can identify apartment communities that participate in the program in Minneapolis by looking for the tag in the apartment list above. View Apartments.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Minneapolis

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $33,050 $37,750 $42,450 $47,150 $50,950 $54,700 $58,500 $62,250
60% of Median $39,660 $45,300 $50,940 $56,580 $61,140 $65,640 $70,200 $74,700

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Minneapolis is $50,940 a year, or $4,245 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $4,245 by 30% to get a maximum rent of $1,274 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $826 $885 $1,061 $1,226 $1,368 $1,509
60% $992 $1,062 $1,274 $1,472 $1,641 $1,811
Fair Market Rents in Minneapolis

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$763 $915 $1,151 $1,636 $1,923