How many renters live in Proctor, Minnesota?
The City of Proctor has people living in households.
There are renters living in renter households in this City. Renters make up 17.51 percent of the population living in Proctor.
What is the rental market like in Proctor, Minnesota?
There are an estimated housing units in the Proctor area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Proctor, Minnesota, there are 1.08 rental units.
What is the vacancy rate for rentals in Proctor?
The rental vacancy rate in Proctor is 7 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 Proctor for each bedroom size?
Occupied Rental Units by Size in Proctor
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 64 | 110 | 68 | 48 | 37 |
Occupied Rental Units by Size in Proctor
A large number of apartments in Proctor 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 Proctor
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $762 to $1,889. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $762 |
| One BR | $868 |
| Two BR | $1,113 |
| Three BR | $1,485 |
| Four BR | $1,889 |
2024 Fair Market Rents in Proctor, Minnesota
How many units are rented at Fair Market Rent (FMR) in Proctor?
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 | 64 | 100 percent |
| One BR | 77 | 70 percent |
| Two BR | 28 | 41 percent |
Rental Units Below FMR in Proctor, Minnesota
How many affordable rental units are in Proctor?
There are a variety of federal affordable housing programs serving households in Proctor, Minnesota including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance |
Tracked Units by Federal Program in Proctor, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Proctor, Minnesota
Proctor features 105 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 Proctor, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Proctor.
Housing Choice Vouchers in Proctor, Minnesota
On average, Section 8 Housing Choice vouchers pay Proctor landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Proctor.
The maximum amount a voucher would pay on behalf of a low-income tenant in Proctor, Minnesota for a two-bedroom apartment is between $1,002 and $1,224.
Sourced from federal housing data and AffordableHousingOnline.com research.