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.
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 people living in households.
There are renters living in 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 housing units in the Stephen area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Stephen, Minnesota, there are 1.76 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 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 |
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.