What HUD offices serve Pequot Lakes, 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 Pequot Lakes.
How many renters live in Pequot Lakes, Minnesota?
The City of Pequot Lakes has people living in households.
There are renters living in renter households in this City. Renters make up 17.94 percent of the population living in Pequot Lakes.
What is the rental market like in Pequot Lakes, Minnesota?
There are an estimated housing units in the Pequot Lakes area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Pequot Lakes, Minnesota, there are 1.22 rental units.
What is the vacancy rate for rentals in Pequot Lakes?
The rental vacancy rate in Pequot Lakes is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Pequot Lakes for each bedroom size?
Occupied Rental Units by Size in Pequot Lakes
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 11 | 199 | 75 | 11 | 5 |
Occupied Rental Units by Size in Pequot Lakes
A large number of apartments in Pequot Lakes have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Pequot Lakes
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $748 to $1,556. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $748 |
| One BR | $840 |
| Two BR | $1,104 |
| Three BR | $1,373 |
| Four BR | $1,556 |
2024 Fair Market Rents in Pequot Lakes, Minnesota
How many units are rented at Fair Market Rent (FMR) in Pequot Lakes?
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 | 11 | 100 percent |
| One BR | 155 | 78 percent |
| Two BR | 61 | 81 percent |
Rental Units Below FMR in Pequot Lakes, Minnesota
How many affordable rental units are in Pequot Lakes?
There are a variety of federal affordable housing programs serving households in Pequot Lakes, Minnesota including the following:
| Federal Program | Unit Count |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Pequot Lakes, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Pequot Lakes, Minnesota
Pequot Lakes features 68 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 Pequot Lakes, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Pequot Lakes.
Housing Choice Vouchers in Pequot Lakes, Minnesota
On average, Section 8 Housing Choice vouchers pay Pequot Lakes landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Pequot Lakes.
The maximum amount a voucher would pay on behalf of a low-income tenant in Pequot Lakes, Minnesota for a two-bedroom apartment is between $994 and $1,214.
Sourced from federal housing data and AffordableHousingOnline.com research.