Affordable Housing In Rice County
Minnesota

22 Low Income Apartment Communities In Rice County

Southgate Village

1518 9th Ave SW
Faribault, MN
$595-635
1-2 BR

Windsor Greens

1425 Prairie Ave SW
Faribault, MN
$505-585
1-2 BR
Accessible

North and South Oak Apartments

220 Greenvale Ave, #101
Northfield, MN
$645-675
1-2 BR
HCV Welcome

Prairiewood Townhomes

1515 Deerwood Ln
Faribault, MN
$730-928
2-4 BR
HCV Welcome

Southside Apartments

315 1st Ave SE
Lonsdale, MN
$575-630
2-3 BR

Greenwood Place

901 Greenwood Place
Faribault, MN
Call For Rent
1-3 BR
Subsidized

Robinwood Manor

1324 Prairie Ave SW
Faribault, MN
Subsidized

St Lucas Riverside Apartments, Inc

501 1st St SE
Faribault, MN
62+
Accessible
Elderly Supportive Housing
Subsidized

Towns Edge Apartments

851 Faribault Road
Faribault, MN

Sunshine Apartments

107 2nd St SE
Morristown, MN
Subsidized

Housing Authorities that serve Rice County

Housing Authority Programs
Rice County Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV)

Other Housing Authorities located in Rice County

Housing Authority Programs
Housing and Redevelopment Authority of Faribault Public Housing

Guide To Affordable Housing in Rice County, Minnesota

According to federal housing data and AffordableHousingOnline.com research, there are 22 low income housing apartment communities offering 726 affordable apartments for rent in Rice County, Minnesota. Rice County features 457 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 269 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Rice County.

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
Total Population 64,886

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
Low Income Housing Tax Credits in Rice County

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

From 1988 to 2003, 14 low income apartment communities containing 326 rental apartments have been constructed and made affordable to low income persons in Rice County 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 Rice County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $30,100 $34,400 $38,700 $42,950 $46,400 $49,850 $53,300 $56,700
60% of Median $36,120 $41,280 $46,440 $51,540 $55,680 $59,820 $63,960 $68,040

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 Rice County is $46,440 a year, or $3,870 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,870 by 30% to get a maximum rent of $1,161 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% $753 $806 $968 $1,117 $1,246 $1,375
60% $903 $968 $1,161 $1,340 $1,496 $1,650
Fair Market Rents in Rice County

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
$603 $701 $923 $1,270 $1,293

Cities In Rice County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Northfield 3
Faribault 18 The HUD funded Public Housing Agencies that serve Faribault are the Housing and Redevelopment Authority of Faribault 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.
Bridgewater 0
Cannon City 0
Dundas 0
Erin 0
Forest 0
Morristownship 0
Nerstrand 0
Northfieldship 0
Richland 0
Shieldsville 0
Walcott 0
Warsaw 0
Warsawship 0
Webster 0
Wells 0
Wheatland 0
Wheeling 0