Affordable Housing In Red Lake Falls
Red Lake County, Minnesota

4 Low Income Apartment Communities In Red Lake Falls

Red Lake Falls Apartments

209 9th St SW
Red Lake Falls, MN
Subsidized

Sunset Court

300 International Dr
Red Lake Falls, MN
Subsidized

Red Lake Apartments

110 Main Ave S
Red Lake Falls, MN
HCV Welcome

Fairview Manor

209 International Dr
Red Lake Falls, MN
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Housing Authorities that serve Red Lake Falls

Housing Authority Programs
Housing and Redevelopment Authority of Red Lake Falls Public Housing
Northwest Minnesota Multi-County Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Red Lake Falls, Minnesota

There are 4 low income housing apartment communities offering 79 affordable apartments for rent in Red Lake Falls, Minnesota. Red Lake Falls features 63 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 16 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Red Lake Falls.

Sourced from federal housing data and AffordableHousingOnline.com research.

Red Lake Falls, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 79
Total Housing Units with Rental Assistance 63
Percentage of Housing Units Occupied By Renters 24.81%
Average Renter Household Size 1.82
Average Household Size 2.21
Median Household Income $47,000 ±$10,706
Median Rent $438 ±$40
Percentage Of Renters Overburdened 33.58% ± 16.62pp
Total Population 1,229

Population and Household Demographics

Red Lake Falls is a City in Red Lake County, Minnesota with a population of 1,229. There are 540 households in the city with an average household size of 2.21 persons. 24.81% of households in Red Lake Falls are renters.

Income and Rent Overburden in Red Lake Falls

The median gross income for households in Red Lake Falls is $47,000 a year, or $3,917 a month. The median rent for the city is $438 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Red Lake Falls, a household making less than $1,460 a month would be considered overburdened when renting an apartment at or above the median rent. 33.58% of households who rent are overburdened in Red Lake Falls.1

Area Median Income In Red Lake Falls

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 Red Lake Falls, the AMI is calculated from all households within Red Lake County.

In Red Lake Falls, HUD calculates the Area Median Income for a family of four as $73,900

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 Red Lake Falls

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 Red Lake Falls HUD Rental Assistance in Red Lake Falls

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,550 $17,750 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $25,900 $29,600 $33,300 $36,950 $39,950 $42,900 $45,850 $48,800
80% of Median $41,400 $47,300 $53,200 $59,100 $63,850 $68,600 $73,300 $78,050
Low Income Housing Tax Credits in Red Lake Falls

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1996 to 1996, 1 low income apartment communities containing 16 rental apartments have been constructed and made affordable to low income persons in Red Lake Falls by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Red Lake Falls

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $25,900 $29,600 $33,300 $36,950 $39,950 $42,900 $45,850 $48,800
60% of Median $31,080 $35,520 $39,960 $44,340 $47,940 $51,480 $55,020 $58,560

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Red Lake Falls is $39,960 a year, or $3,330 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,330 by 30% to get a maximum rent of $999 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $648 $694 $833 $961 $1,073 $1,183
60% $777 $833 $999 $1,154 $1,287 $1,420
Fair Market Rents in Red Lake Falls

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$579 $627 $714 $964 $967