What HUD offices serve Norwood Young America, 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 Norwood Young America.
How many renters live in Norwood Young America, Minnesota?
The City of Norwood Young America has 3,852 people living in 1,396 households.
There are 512 renters living in 333 renter households in this City. Renters make up 13.29 percent of the population living in Norwood Young America.
What is the rental market like in Norwood Young America, Minnesota?
There are an estimated 1,411 housing units in the Norwood Young America area. Of these, 333 units are rental homes, making up 24 percent of the housing market. For every renter household in Norwood Young America, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Norwood Young America?
The rental vacancy rate in Norwood Young America 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 Norwood Young America for each bedroom size?
Occupied Rental Units by Size in Norwood Young America
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 45 | 80 | 197 | 11 | 0 |
Occupied Rental Units by Size in Norwood Young America
A large number of apartments in Norwood Young America 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 Norwood Young America are overburdened by housing costs?
Among renter households in this market, 35 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 Norwood Young America
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,174 to $2,478. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,174 |
| One BR | $1,327 |
| Two BR | $1,622 |
| Three BR | $2,188 |
| Four BR | $2,478 |
2024 Fair Market Rents in Norwood Young America, Minnesota
How many units are rented at Fair Market Rent (FMR) in Norwood Young America?
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 | 45 | 100 percent |
| One BR | 58 | 73 percent |
| Two BR | 183 | 93 percent |
Rental Units Below FMR in Norwood Young America, Minnesota
How many affordable rental units are in Norwood Young America?
There are a variety of federal affordable housing programs serving households in Norwood Young America, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 23 |
| USDA Section 515 Rural Rental Housing | 85 |
Tracked Units by Federal Program in Norwood Young America, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Norwood Young America, Minnesota
Norwood Young America features 24 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 Norwood Young America, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Norwood Young America.
Housing Choice Vouchers in Norwood Young America, Minnesota
On average, Section 8 Housing Choice vouchers pay Norwood Young America landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Norwood Young America.
The maximum amount a voucher would pay on behalf of a low-income tenant in Norwood Young America, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.
Sourced from federal housing data and AffordableHousingOnline.com research.
