What HUD offices serve St Peter, 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 St Peter.
How many renters live in St Peter, Minnesota?
The City of St Peter has 12,039 people living in 3,919 households.
There are 2,848 renters living in 1,488 renter households in this City. Renters make up 23.66 percent of the population living in St Peter.
What is the rental market like in St Peter, Minnesota?
There are an estimated 4,084 housing units in the St Peter area. Of these, 1,517 units are rental homes, making up 37 percent of the housing market. For every renter household in St Peter, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in St Peter?
The rental vacancy rate in St Peter is 2 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 St Peter for each bedroom size?
Occupied Rental Units by Size in St Peter
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 78 | 331 | 724 | 275 | 60 |
Occupied Rental Units by Size in St Peter
A large number of apartments in St Peter 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 St Peter are overburdened by housing costs?
Among renter households in this market, 40 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 St Peter
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $897 to $1,868. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $897 |
| One BR | $903 |
| Two BR | $1,101 |
| Three BR | $1,552 |
| Four BR | $1,868 |
2024 Fair Market Rents in St Peter, Minnesota
How many units are rented at Fair Market Rent (FMR) in St Peter?
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 | 32 | 41 percent |
| One BR | 207 | 63 percent |
| Two BR | 488 | 67 percent |
Rental Units Below FMR in St Peter, Minnesota
How many affordable rental units are in St Peter?
There are a variety of federal affordable housing programs serving households in St Peter, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 237 |
| Public Housing | 62 |
| Section 8 Project-Based Rental Assistance | 83 |
| USDA Section 515 Rural Rental Housing | 110 |
Tracked Units by Federal Program in St Peter, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in St Peter, Minnesota
St Peter features 62 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 St Peter, Minnesota
There are 30 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in St Peter.
Housing Choice Vouchers in St Peter, Minnesota
On average, Section 8 Housing Choice vouchers pay St Peter landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in St Peter.
The maximum amount a voucher would pay on behalf of a low-income tenant in St Peter, Minnesota for a two-bedroom apartment is between $991 and $1,211.
Sourced from federal housing data and AffordableHousingOnline.com research.
