Affordable Housing In Sherburne County
Minnesota
15 Low Income Apartment Communities In Sherburne County
Clearview Apartments
Guide To Affordable Housing in Sherburne County, Minnesota
According to federal housing data and AffordableHousingOnline.com research, there are 15 low income housing apartment communities offering 671 affordable apartments for rent in Sherburne County, Minnesota. Sherburne County features 247 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 325 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Sherburne County.
Sherburne County, MN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 15 |
|---|---|
| Total Low Income Apartments | 671 |
| Total Housing Units with Rental Assistance | 247 |
| Percentage of Housing Units Occupied By Renters | 19.14% |
| Average Renter Household Size | 2.60 |
| Average Household Size | 2.89 |
| Median Household Income | $74,170 ±$2,579 |
| Median Rent | $925 ±$47 |
| Percentage Of Renters Overburdened | 50.04% ± 6.24pp |
| Total Population | 90,401 |
Population and Household Demographics
Sherburne County is a County in Minnesota with a population of 90,401. There are 30,574 households in the county with an average household size of 2.89 persons. 19.14% of households in Sherburne County are renters.
Income and Rent Overburden in Sherburne County
The median gross income for households in Sherburne County is $74,170 a year, or $6,181 a month. The median rent for the county is $925 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sherburne County, a household making less than $3,083 a month would be considered overburdened when renting an apartment at or above the median rent. 50.04% of households who rent are overburdened in Sherburne County.1
Area Median Income In Sherburne 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 Sherburne County, HUD calculates the Area Median Income for a family of four as $100,000
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 Sherburne 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 Sherburne County HUD Rental Assistance in Sherburne County
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% of Median | $21,000 | $24,000 | $27,000 | $30,000 | $32,400 | $34,800 | $39,010 | $43,430 |
| 50% of Median | $35,000 | $40,000 | $45,000 | $50,000 | $54,000 | $58,000 | $62,000 | $66,000 |
| 80% of Median | $52,850 | $60,400 | $67,950 | $75,500 | $81,550 | $87,600 | $93,650 | $99,700 |
Low Income Housing Tax Credits in Sherburne County
The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.
From 1987 to 2007, 10 low income apartment communities containing 379 rental apartments have been constructed and made affordable to low income persons in Sherburne 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 Sherburne County
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 50% of Median | $35,000 | $40,000 | $45,000 | $50,000 | $54,000 | $58,000 | $62,000 | $66,000 |
| 60% of Median | $42,000 | $48,000 | $54,000 | $60,000 | $64,800 | $69,600 | $74,400 | $79,200 |
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 Sherburne County is $54,000 a year, or $4,500 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $4,500 by 30% to get a maximum rent of $1,350 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% | $875 | $938 | $1,125 | $1,300 | $1,450 | $1,600 |
| 60% | $1,050 | $1,125 | $1,350 | $1,560 | $1,740 | $1,920 |
Fair Market Rents in Sherburne 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 |
|---|---|---|---|---|
| $820 | $971 | $1,214 | $1,722 | $2,025 |
Cities In Sherburne County
Select A City to View its Apartment Communities and Waiting Lists.
| City | Listings | Served By |
|---|---|---|
| Elk River | 9 | |
| Clear Lake | 1 | |
| Zimmerman | 4 | |
| Becker | 0 | |
| Baldwin | 0 | |
| Beckership | 0 | |
| Big Lake | 0 | |
| Big Lakeship | 0 | |
| Blue Hill | 0 | |
| Clear Lakeship | 0 | |
| Haven | 0 | |
| Livonia | 0 | |
| Orrock | 0 | |
| Palmer | 0 | |
| Santiago | 0 | |
| Saint Cloud | 30 | The HUD funded Public Housing Agency that serves Saint Cloud is the St. Cloud Housing and Redevelopment Authority. |
