Low Income Apartments and Affordable Housing For Rent in Stephen, MN

Discover affordable housing in Stephen where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Bendel Apartments

124 2nd St, Stephen, Minnesota 56757

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Stephen, Minnesota
$17.31/hour
$8.46 (+96%) more than Minnesota minimum wage and $10.06 (+139%) more than the Federal minimum wage.
Learn More About Stephen, Minnesota Affordable Housing ↓

What HUD offices serve Stephen, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Stephen, Minnesota.

Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Stephen.

How many renters live in Stephen, Minnesota?

The City of Stephen has 552 people living in 247 households.

There are 43 renters living in 34 renter households in this City. Renters make up 7.79 percent of the population living in Stephen.

What is the rental market like in Stephen, Minnesota?

There are an estimated 304 housing units in the Stephen area. Of these, 60 units are rental homes, making up 20 percent of the housing market. For every renter household in Stephen, Minnesota, there are 2 rental units.

What is the vacancy rate for rentals in Stephen?

The rental vacancy rate in Stephen is 32 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 Stephen for each bedroom size?

Occupied Rental Units by Size in Stephen
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
7 3 22 0 2
Occupied Rental Units by Size in Stephen

A large number of apartments in Stephen 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 Stephen are overburdened by housing costs?

Among renter households in this market, 76 percent have housing cost burden. Further, 76 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 Stephen

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $620 to $1,516. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $620
One BR $696
Two BR $914
Three BR $1,129
Four BR $1,516
2024 Fair Market Rents in Stephen, Minnesota

How many units are rented at Fair Market Rent (FMR) in Stephen?

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 0 100 percent
One BR 2 67 percent
Two BR 10 45 percent
Rental Units Below FMR in Stephen, Minnesota

How many affordable rental units are in Stephen?

There are a variety of federal affordable housing programs serving households in Stephen, Minnesota including the following:

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 10
Tracked Units by Federal Program in Stephen, Minnesota

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Stephen, Minnesota

Stephen features 10 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 Stephen, Minnesota

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Stephen.

Housing Choice Vouchers in Stephen, Minnesota

On average, Section 8 Housing Choice vouchers pay Stephen landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Stephen.

The maximum amount a voucher would pay on behalf of a low-income tenant in Stephen, Minnesota for a two-bedroom apartment is between $823 and $1,005.

Sourced from federal housing data and AffordableHousingOnline.com research.