Affordable Housing Online is monitoring the federal government's response to the coronavirus disease (COVID-19) outbreak. 

An extensive list of coronavirus resources for low-income households can be found here.

Affordable Housing In Park Rapids
Hubbard County, Minnesota

10 Low Income Apartment Communities In Park Rapids

Parkview Apartments I & II

514 Heartland St
Park Rapids, Minnesota
Income Based
1-3 BR

Woodland Court Apartments

300 Court St
Park Rapids, Minnesota
Subsidized

Park Villa

619 6th St W
Park Rapids, Minnesota
Subsidized
62+
Accessible
Elderly Supportive Housing

Itasca Apartments

509 8th St W
Park Rapids, Minnesota
Subsidized

Parkview

510 5th St W
Park Rapids, Minnesota

River Heights

500 Riverside Ave
Park Rapids, Minnesota

Regency

518 Gilbert Ave S
Park Rapids, Minnesota

Park Rapids Townhomes

704 Eastern Ave S
Park Rapids, Minnesota

Parkview I and Apartments II

510 Heartland St
Park Rapids, Minnesota

Mccarthy Apartments D W Jones Mgmt Inc

505 North 5th Street
Park Rapids, Minnesota
  • «
  • 1
  • »

Housing Authorities that serve Park Rapids

Housing Authority Programs
Housing and Redevelopment Authority of Park Rapids Public Housing

Guide To Affordable Housing in Park Rapids, Minnesota

There are 10 low income housing apartment communities offering 333 affordable apartments for rent in Park Rapids, Minnesota.

Income Based Apartments in Park Rapids, Minnesota

Park Rapids features 226 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 Park Rapids, Minnesota

There are 107 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Park Rapids.

Housing Choice Vouchers in Park Rapids, Minnesota

On average, Section 8 Housing Choice vouchers pay Park Rapids landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Park Rapids.

The maximum amount a voucher would pay on behalf of a low-income tenant in Park Rapids, Minnesota for a two-bedroom apartment is between $649 and $793.

2020 Park Rapids, 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 $544 $547 $721 $1,010 $1,052
Payment Standard Range $490 to $598 $492 to $602 $649 to $793 $909 to $1,111 $947 to $1,157

Sourced from federal housing data and AffordableHousingOnline.com research.

Park Rapids, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 10
Total Low Income Apartments 333
Total Housing Units with Rental Assistance 226
Percentage of Housing Units Occupied By Renters 49.18%
Average Renter Household Size 1.84
Average Household Size 2.12
Median Household Income $33,822 ±$4,880
Median Rent $502 ±$42
Percentage Of Renters Overburdened 37.83% ± 10.62pp
Total Population 3,907

Population and Household Demographics

Park Rapids is a city in Hubbard County, Minnesota with a population of 3,907. There are 1,779 households in the city with an average household size of 2.12 persons. 49.18% of households in Park Rapids are renters.

Income and Rent Overburden in Park Rapids

The median gross income for households in Park Rapids is $33,822 a year, or $2,819 a month. The median rent for the city is $502 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Park Rapids, a household making less than $1,673 a month would be considered overburdened when renting an apartment at or above the median rent. 37.83% of households who rent are overburdened in Park Rapids.

Area Median Income In Park Rapids

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 Park Rapids, the AMI is calculated from all households within Hubbard County.

In Park Rapids, HUD calculates the Area Median Income for a family of four as $68,800

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 Park Rapids

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 Park Rapids

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,300 $17,450 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $25,450 $29,050 $32,700 $36,300 $39,250 $42,150 $45,050 $47,950
80% of Median $40,700 $46,500 $52,300 $58,100 $62,750 $67,400 $72,050 $76,700