Affordable Housing In Rochester
40 Low Income Apartment Communities In Rochester
Housing Authorities that serve Rochester
|Olmsted County Housing and Redevelopment Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Rochester, Minnesota
There are 40 low income housing apartment communities offering 2,404 affordable apartments for rent in Rochester, Minnesota.
Income Based Apartments in Rochester, Minnesota
Rochester features 1,322 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 Rochester, Minnesota
There are 1,027 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rochester.
Housing Choice Vouchers in Rochester, Minnesota
On average, Section 8 Housing Choice vouchers pay Rochester landlords $600 per month towards rent. The average voucher holder contributes $500 towards rent in Rochester.
The maximum amount a voucher would pay on behalf of a low-income tenant in Rochester, Minnesota for a two-bedroom apartment is between $914 and $1,118.
2020 Rochester, 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||$667||$777||$1,016||$1,416||$1,748|
|Payment Standard Range||$600 to $734||$699 to $855||$914 to $1,118||$1,274 to $1,558||$1,573 to $1,923|
Sourced from federal housing data and AffordableHousingOnline.com research.
Rochester, MN Affordable Housing Snapshot
|Total Affordable Apartment Properties||40|
|Total Low Income Apartments||2,404|
|Total Housing Units with Rental Assistance||1,322|
|Percentage of Housing Units Occupied By Renters||30.52%|
|Average Renter Household Size||2.14|
|Average Household Size||2.46|
|Median Household Income||$64,554 ±$1,618|
|Median Rent||$823 ±$31|
|Percentage Of Renters Overburdened||46.47% ± 3.3pp|
Population and Household Demographics
Rochester is a city in Olmsted County, Minnesota with a population of 110,275. There are 43,634 households in the city with an average household size of 2.46 persons. 30.52% of households in Rochester are renters.
Income and Rent Overburden in Rochester
The median gross income for households in Rochester is $64,554 a year, or $5,380 a month. The median rent for the city is $823 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rochester, a household making less than $2,743 a month would be considered overburdened when renting an apartment at or above the median rent. 46.47% of households who rent are overburdened in Rochester.
Area Median Income In Rochester
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 Rochester, the AMI is calculated from all households within Olmsted County.
In Rochester, HUD calculates the Area Median Income for a family of four as $103,000
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 Rochester
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 HUD Rental Assistance in Rochester
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$21,250||$24,300||$27,350||$30,350||$32,800||$35,250||$39,640||$44,120|
|50% of Median||$35,450||$40,500||$45,550||$50,600||$54,650||$58,700||$62,750||$66,800|
|80% of Median||$54,950||$62,800||$70,650||$78,500||$84,800||$91,100||$97,350||$103,650|