Affordable Housing In Saint Peter
Nicollet County, Minnesota

7 Low Income Apartment Communities In Saint Peter

Central Square Apartments

301 S Washington Ave
Saint Peter, MN
$690-990
1-3 BR
HCV Welcome

Vista View Townhomes

1811 Vista View Dr
Saint Peter, MN
$845-945
2-3 BR
HCV Welcome

Sunrise Meadow

1435A Sunrise Dr
Saint Peter, MN
Subsidized

Estate Apartments, Inc

409 W Myrtle St
Saint Peter, MN
$305-335
Studio-1 BR
62+
Accessible
Elderly Supportive Housing
Subsidized

Park View Apartments

1010 S 4th St
Saint Peter, MN

Sunnyvale Court

1519 N 5th St
Saint Peter, MN

Fairview Apartments

706 Ronell St
Saint Peter, MN
HCV Welcome
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Housing Authorities that serve Saint Peter

Housing Authority Programs
South Central Minnesota Multi County Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Saint Peter, Minnesota

According to federal housing data and AffordableHousingOnline.com research, there are 7 low income housing apartment communities offering 337 affordable apartments for rent in Saint Peter, Minnesota. Saint Peter features 154 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 183 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Saint Peter.

Saint Peter, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 7
Total Low Income Apartments 337
Total Housing Units with Rental Assistance 154
Percentage of Housing Units Occupied By Renters 39.31%
Average Renter Household Size 2.16
Average Household Size 2.41
Median Household Income $55,280 ±$4,674
Median Rent $823 ±$53
Percentage Of Renters Overburdened 46.02% ± 9.57pp
Total Population 11,492

Population and Household Demographics

Saint Peter is a City in Nicollet County, Minnesota with a population of 11,492. There are 3,582 households in the city with an average household size of 2.41 persons. 39.31% of households in Saint Peter are renters.

Income and Rent Overburden in Saint Peter

The median gross income for households in Saint Peter is $55,280 a year, or $4,607 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 Saint Peter, a household making less than $2,743 a month would be considered overburdened when renting an apartment at or above the median rent. 46.02% of households who rent are overburdened in Saint Peter.1

Area Median Income In Saint Peter

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 Saint Peter, the AMI is calculated from all households within Nicollet County.

In Saint Peter, HUD calculates the Area Median Income for a family of four as $78,500

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 Saint Peter

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 Saint Peter HUD Rental Assistance in Saint Peter

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,500 $18,850 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $27,500 $31,400 $35,350 $39,250 $42,400 $45,550 $48,700 $51,850
80% of Median $44,000 $50,250 $56,550 $62,800 $67,850 $72,850 $77,900 $82,900
Low Income Housing Tax Credits in Saint Peter

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

From 1999 to 2005, 3 low income apartment communities containing 112 rental apartments have been constructed and made affordable to low income persons in Saint Peter 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 Saint Peter

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $27,500 $31,400 $35,350 $39,250 $42,400 $45,550 $48,700 $51,850
60% of Median $33,000 $37,680 $42,420 $47,100 $50,880 $54,660 $58,440 $62,220

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 Saint Peter is $42,420 a year, or $3,535 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,535 by 30% to get a maximum rent of $1,061 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% $688 $736 $884 $1,021 $1,139 $1,257
60% $825 $884 $1,061 $1,225 $1,367 $1,508
Fair Market Rents in Saint Peter

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
$612 $704 $920 $1,299 $1,615