How many renters live in Red Lake, Minnesota?
The City of Red Lake has 1,435 people living in 484 households.
There are 820 renters living in 236 renter households in this City. Renters make up 57.14 percent of the population living in Red Lake.
What is the rental market like in Red Lake, Minnesota?
There are an estimated 519 housing units in the Red Lake area. Of these, 248 units are rental homes, making up 48 percent of the housing market. For every renter household in Red Lake, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Red Lake?
The rental vacancy rate in Red Lake is 5 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 Red Lake for each bedroom size?
Occupied Rental Units by Size in Red Lake
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 23 | 70 | 126 | 0 |
Occupied Rental Units by Size in Red Lake
A large number of apartments in Red Lake 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 Red Lake are overburdened by housing costs?
Among renter households in this market, 20 percent have housing cost burden. Further, 13 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 Red Lake
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $820 to $1,576. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $820 |
| One BR | $851 |
| Two BR | $1,118 |
| Three BR | $1,352 |
| Four BR | $1,576 |
2024 Fair Market Rents in Red Lake, Minnesota
How many units are rented at Fair Market Rent (FMR) in Red Lake?
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 |
| One BR | 23 | 100 percent |
| Two BR | 70 | 100 percent |
Rental Units Below FMR in Red Lake, Minnesota
How many affordable rental units are in Red Lake?
There are a variety of federal affordable housing programs serving households in Red Lake, Minnesota including the following:
| Federal Program | Unit Count |
| Section 202 Supportive Housing for the Elderly | 1 |
Tracked Units by Federal Program in Red Lake, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Red Lake, Minnesota
Red Lake features 40 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 Red Lake, Minnesota
There are 30 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Red Lake.
Housing Choice Vouchers in Red Lake, Minnesota
On average, Section 8 Housing Choice vouchers pay Red Lake landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Red Lake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Red Lake, Minnesota for a two-bedroom apartment is between $1,006 and $1,230.
Sourced from federal housing data and AffordableHousingOnline.com research.
