Low Income Apartments and Affordable Housing For Rent in Rice County, MN

Discover affordable housing in Rice County where there are 32+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Prairiewood Townhomes

1515 Deerwood Lane, Faribault, Minnesota 55021

North and South Oak Apartments

220 Greenvale Ave, #101, Northfield, Minnesota 55057

Southgate Village

1518 9th Ave SW, Faribault, Minnesota 55021

Southside Apartments

315 1st Ave SE, Lonsdale, Minnesota 55046

Greenwood Place

901 Greenwood Place, Faribault, Minnesota 55021

Jefferson Square

1356 Jefferson Road, Northfield, Minnesota 55057

The Lofts at Evergreen Knoll

2275 4th St NW, Faribault, Minnesota 55201

Two Rivers Estates

2426 Park Ave NW, Faribault, Minnesota 55021

Sunshine Apartments

107 2nd St SE, Morristown, Minnesota 55052

Spring Court Apartments

915 Spring Rd, Faribault, Minnesota 55021

Spring Court Townhomes

919 Spring Rd, Faribault, Minnesota 55021

Halter Two Apartments

907 Spring Rd, Faribault, Minnesota 55021

Halter One

906 Spring Rd Sw, Faribault, Minnesota 55021

Alexander Apartments

917 1st St SW, Faribault, Minnesota 55021

Windsor Greens

1425 Prairie Ave SW, Faribault, Minnesota 55021

Park Central Apartments

521 4th Ave NW, Faribault, Minnesota 55021

St Lucas Riverside Apartments, Inc

501 1st St SE, Faribault, Minnesota 55021

Robinwood Manor

1324 Prairie Ave SW, Faribault, Minnesota 55021

Towns Edge Apartments

851 Faribault Road, Faribault, Minnesota 55021

North and South Oak Apartments

600 Spring Street N, Northfield, Minnesota 55057

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Rice County, Minnesota
$22.84/hour
$13.99 (+158%) more than Minnesota minimum wage and $15.59 (+215%) more than the Federal minimum wage.
Learn More About Rice County, Minnesota Affordable Housing ↓

What HUD offices serve Rice County, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Rice County, Minnesota.

Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Rice County.

How many renters live in Rice County, Minnesota?

The County of Rice County has 67,693 people living in 23,616 households.

There are 12,830 renters living in 6,339 renter households in this County. Renters make up 18.95 percent of the population living in Rice County.

What is the rental market like in Rice County, Minnesota?

There are an estimated 25,064 housing units in the Rice County area. Of these, 5,893 units are rental homes, making up 24 percent of the housing market. For every renter household in Rice County, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Rice County?

The rental vacancy rate in Rice County is 3 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 Rice County for each bedroom size?

Occupied Rental Units by Size in Rice County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
237 1,647 2,278 1,180 282
Occupied Rental Units by Size in Rice County

A large number of apartments in Rice County 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 Rice County are overburdened by housing costs?

Among renter households in this market, 68 percent have housing cost burden. Further, 33 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 Rice County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $913 to $1,932. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $913
One BR $918
Two BR $1,206
Three BR $1,634
Four BR $1,932
2024 Fair Market Rents in Rice County, Minnesota

How many units are rented at Fair Market Rent (FMR) in Rice County?

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 142 60 percent
One BR 1,207 73 percent
Two BR 1,315 58 percent
Rental Units Below FMR in Rice County, Minnesota

How many affordable rental units are in Rice County?

There are a variety of federal affordable housing programs serving households in Rice County, Minnesota including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 432
Public Housing 49
Section 8 Project-Based Rental Assistance 525
Section 202 Supportive Housing for the Elderly 48
USDA Section 515 Rural Rental Housing 364
Tracked Units by Federal Program in Rice County, Minnesota

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Rice County, Minnesota

Rice County features 759 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 Rice County, Minnesota

There are 160 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rice County.

Housing Choice Vouchers in Rice County, Minnesota

On average, Section 8 Housing Choice vouchers pay Rice County landlords $500 per month towards rent. The average voucher holder contributes $500 towards rent in Rice County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Rice County, Minnesota for a two-bedroom apartment is between $1,085 and $1,327.

Sourced from federal housing data and AffordableHousingOnline.com research.