Affordable Housing In Rice County
22 Low Income Apartment Communities In Rice County
Housing Authorities that serve Rice County
|Rice County Housing and Redevelopment Authority||Section 8 Housing Choice Voucher (HCV)|
Other Housing Authorities located in Rice County
|Faribault Housing and Redevelopment Authority||Public Housing|
Guide To Affordable Housing in Rice County, Minnesota
There are 22 low income housing apartment communities offering 726 affordable apartments for rent in Rice County, Minnesota.
Income Based Apartments in Rice County, Minnesota
Rice County features 457 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 269 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 $831 and $1,015.
2020 Rice County, 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||$603||$701||$923||$1,270||$1,293|
|Payment Standard Range||$543 to $663||$631 to $771||$831 to $1,015||$1,143 to $1,397||$1,164 to $1,422|
Sourced from federal housing data and AffordableHousingOnline.com research.
Rice County, MN Affordable Housing Snapshot
|Total Affordable Apartment Properties||22|
|Total Low Income Apartments||726|
|Total Housing Units with Rental Assistance||457|
|Percentage of Housing Units Occupied By Renters||26.08%|
|Average Renter Household Size||2.24|
|Average Household Size||2.50|
|Median Household Income||$59,598 ±$2,035|
|Median Rent||$722 ±$52|
|Percentage Of Renters Overburdened||42.79% ± 5.6pp|
Population and Household Demographics
Rice County is a County in Minnesota with a population of 64,886. There are 22,532 households in the county with an average household size of 2.50 persons. 26.08% of households in Rice County are renters.
Income and Rent Overburden in Rice County
The median gross income for households in Rice County is $59,598 a year, or $4,967 a month. The median rent for the county is $722 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rice County, a household making less than $2,407 a month would be considered overburdened when renting an apartment at or above the median rent. 42.79% of households who rent are overburdened in Rice County.1
Area Median Income In Rice County
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.
In Rice County, HUD calculates the Area Median Income for a family of four as $88,000
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 Rice County
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 Rice County HUD Rental Assistance in Rice County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$18,050||$20,600||$23,200||$25,750||$30,170||$34,590||$39,010||$43,430|
|50% of Median||$30,100||$34,400||$38,700||$42,950||$46,400||$49,850||$53,300||$56,700|
|80% of Median||$48,100||$55,000||$61,850||$68,700||$74,200||$79,700||$85,200||$90,700|
Cities In Rice County
Select A City to View its Apartment Communities and Waiting Lists.
|Faribault||18||The HUD funded Public Housing Agencies that serve Faribault are the Faribault Housing and Redevelopment Authority and Rice County Housing and Redevelopment Authority.|
|Lonsdale||2||The HUD funded Public Housing Agency that serves Lonsdale is the Rice County Housing and Redevelopment Authority.|
|Morristown||1||The HUD funded Public Housing Agency that serves Morristown is the Rice County Housing and Redevelopment Authority.|