Low Income Apartments and Affordable Housing For Rent in Richfield, MN

Discover affordable housing in Richfield where there are 5+ 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.

Robert Will Community Housing

6345 Pleasant Ave, Richfield, Minnesota 55423

Lyndale Plaza Apartments

6401 Lyndale Ave S, Richfield, Minnesota 55423

Fraser Sheridan Court

2500 W 66th St, Richfield, Minnesota 55423

Richfield Towers

7717 Chicago Avenue, Richfield, Minnesota 55423

Mainstreet Village Assisted Living

7601 Lyndale Avenue South, Richfield, Minnesota 55423

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Richfield, Minnesota
$30.72/hour
$21.87 (+247%) more than Minnesota minimum wage and $23.47 (+324%) more than the Federal minimum wage.
Learn More About Richfield, Minnesota Affordable Housing ↓

What HUD offices serve Richfield, 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), Public Housing programs for Richfield, Minnesota.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Richfield, Minnesota.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Richfield, Minnesota.

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

How many renters live in Richfield, Minnesota?

The City of Richfield has 36,809 people living in 15,900 households.

There are 12,657 renters living in 6,093 renter households in this City. Renters make up 34.39 percent of the population living in Richfield.

What is the rental market like in Richfield, Minnesota?

There are an estimated 16,331 housing units in the Richfield area. Of these, 6,177 units are rental homes, making up 38 percent of the housing market. For every renter household in Richfield, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Richfield?

The rental vacancy rate in Richfield is 1 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 Richfield for each bedroom size?

Occupied Rental Units by Size in Richfield
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
521 3,301 1,643 429 135
Occupied Rental Units by Size in Richfield

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

Among renter households in this market, 38 percent have housing cost burden. Further, 19 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 Richfield

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,174 to $2,478. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,174
One BR $1,327
Two BR $1,622
Three BR $2,188
Four BR $2,478
2024 Fair Market Rents in Richfield, Minnesota

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

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 175 34 percent
One BR 2,137 65 percent
Two BR 1,252 76 percent
Rental Units Below FMR in Richfield, Minnesota

How many affordable rental units are in Richfield?

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

Federal Program Unit Count
Low Income Housing Tax Credit 19
Section 8 Project-Based Rental Assistance 195
Section 811 Supportive Housing for Persons with Disabilities 13
Tracked Units by Federal Program in Richfield, Minnesota

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

Income Based Apartments in Richfield, Minnesota

Richfield features 191 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 Richfield, Minnesota

There are 94 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Richfield.

Housing Choice Vouchers in Richfield, Minnesota

On average, Section 8 Housing Choice vouchers pay Richfield landlords $800 per month towards rent. The average voucher holder contributes $500 towards rent in Richfield.

The maximum amount a voucher would pay on behalf of a low-income tenant in Richfield, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.

Sourced from federal housing data and AffordableHousingOnline.com research.