Affordable Housing In Red Lake Falls
Red Lake County,
4 Low Income Apartment Communities In Red Lake Falls
Housing Authorities that serve Red Lake Falls
|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.
Income Based Apartments in Red Lake Falls, Minnesota
Red Lake Falls features 63 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 Falls, Minnesota
There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Red Lake Falls.
Housing Choice Vouchers in Red Lake Falls, Minnesota
On average, Section 8 Housing Choice vouchers pay Red Lake Falls landlords $500 per month towards rent. The average voucher holder contributes $200 towards rent in Red Lake Falls.
The maximum amount a voucher would pay on behalf of a low-income tenant in Red Lake Falls, Minnesota for a two-bedroom apartment is between $643 and $785.
2020 Red Lake Falls, 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||$579||$627||$714||$964||$967|
|Payment Standard Range||$521 to $637||$564 to $690||$643 to $785||$868 to $1,060||$870 to $1,064|
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|
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|