Affordable Housing In Thief River Falls
10 Low Income Apartment Communities In Thief River Falls
Housing Authorities that serve Thief River Falls
|Thief River Falls Housing and Redevelopment Aut||Public Housing|
|Northwest Minnesota Multi-County Housing and Redevelopment Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Thief River Falls, Minnesota
There are 10 low income housing apartment communities offering 372 affordable apartments for rent in Thief River Falls, Minnesota.
Income Based Apartments in Thief River Falls, Minnesota
Thief River Falls features 142 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 Thief River Falls, Minnesota
There are 230 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Thief River Falls.
Housing Choice Vouchers in Thief River Falls, Minnesota
On average, Section 8 Housing Choice vouchers pay Thief River Falls landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Thief River Falls.
The maximum amount a voucher would pay on behalf of a low-income tenant in Thief River Falls, Minnesota for a two-bedroom apartment is between $684 and $836.
2020 Thief River Falls, Minnesota Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
|Studio||One BR||Two BR||Three BR||Four BR|
|Fair Market Rent||$495||$577||$760||$947||$1,030|
|Payment Standard Range||$446 to $545||$519 to $635||$684 to $836||$852 to $1,042||$927 to $1,133|
Sourced from federal housing data and AffordableHousingOnline.com research.
Thief River Falls, MN Affordable Housing Snapshot
|Total Affordable Apartment Properties||10|
|Total Low Income Apartments||372|
|Total Housing Units with Rental Assistance||142|
|Percentage of Housing Units Occupied By Renters||33.43%|
|Average Renter Household Size||1.78|
|Average Household Size||2.15|
|Median Household Income||$40,271 ±$2,659|
|Median Rent||$576 ±$54|
|Percentage Of Renters Overburdened||37.14% ± 7.7pp|
Population and Household Demographics
Thief River Falls is a city in Pennington County, Minnesota with a population of 8,711. There are 3,931 households in the city with an average household size of 2.15 persons. 33.43% of households in Thief River Falls are renters.
Income and Rent Overburden in Thief River Falls
The median gross income for households in Thief River Falls is $40,271 a year, or $3,356 a month. The median rent for the city is $576 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Thief River Falls, a household making less than $1,920 a month would be considered overburdened when renting an apartment at or above the median rent. 37.14% of households who rent are overburdened in Thief River Falls.
Area Median Income In Thief River Falls
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.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Thief River Falls, the AMI is calculated from all households within Pennington County.
In Thief River Falls, HUD calculates the Area Median Income for a family of four as $73,300
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 Thief River Falls
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 HUD Rental Assistance in Thief River Falls
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$15,400||$17,600||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$25,700||$29,350||$33,000||$36,650||$39,600||$42,550||$45,450||$48,400|
|80% of Median||$41,100||$46,950||$52,800||$58,650||$63,350||$68,050||$72,750||$77,450|