What HUD offices serve Sleepy Eye, 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.
Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Sleepy Eye.
How many renters live in Sleepy Eye, Minnesota?
The City of Sleepy Eye has 3,452 people living in 1,490 households.
There are 418 renters living in 229 renter households in this City. Renters make up 12.11 percent of the population living in Sleepy Eye.
What is the rental market like in Sleepy Eye, Minnesota?
There are an estimated 1,654 housing units in the Sleepy Eye area. Of these, 257 units are rental homes, making up 16 percent of the housing market. For every renter household in Sleepy Eye, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Sleepy Eye?
The rental vacancy rate in Sleepy Eye is 11 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Sleepy Eye for each bedroom size?
Occupied Rental Units by Size in Sleepy Eye
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 84 | 72 | 21 | 44 |
Occupied Rental Units by Size in Sleepy Eye
A large number of apartments in Sleepy Eye 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 Sleepy Eye are overburdened by housing costs?
Among renter households in this market, 48 percent have housing cost burden. Further, 38 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 Sleepy Eye
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $613 to $1,536. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $613 |
| One BR | $689 |
| Two BR | $905 |
| Three BR | $1,127 |
| Four BR | $1,536 |
2024 Fair Market Rents in Sleepy Eye, Minnesota
How many units are rented at Fair Market Rent (FMR) in Sleepy Eye?
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 |
| One BR | 47 | 56 percent |
| Two BR | 58 | 81 percent |
Rental Units Below FMR in Sleepy Eye, Minnesota
How many affordable rental units are in Sleepy Eye?
There are a variety of federal affordable housing programs serving households in Sleepy Eye, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 24 |
| Public Housing | 45 |
| Section 8 Project-Based Rental Assistance | 32 |
Tracked Units by Federal Program in Sleepy Eye, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Sleepy Eye, Minnesota
Sleepy Eye features 77 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 Sleepy Eye, Minnesota
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sleepy Eye.
Housing Choice Vouchers in Sleepy Eye, Minnesota
On average, Section 8 Housing Choice vouchers pay Sleepy Eye landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Sleepy Eye.
The maximum amount a voucher would pay on behalf of a low-income tenant in Sleepy Eye, Minnesota for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
