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

Discover affordable housing in Underwood 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.

Tamarac Manor

208 Cleveland Ave W, Underwood, Minnesota 56586

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Underwood, Minnesota
$17.88/hour
$9.03 (+102%) more than Minnesota minimum wage and $10.63 (+147%) more than the Federal minimum wage.
Learn More About Underwood, Minnesota Affordable Housing ↓

What HUD offices serve Underwood, 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 Underwood, Minnesota.
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Underwood, Minnesota.

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

How many renters live in Underwood, Minnesota?

The City of Underwood has 420 people living in 176 households.

There are 69 renters living in 35 renter households in this City. Renters make up 16.43 percent of the population living in Underwood.

What is the rental market like in Underwood, Minnesota?

There are an estimated 198 housing units in the Underwood area. Of these, 35 units are rental homes, making up 18 percent of the housing market. For every renter household in Underwood, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Underwood?

The rental vacancy rate in Underwood is 0 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 Underwood for each bedroom size?

Occupied Rental Units by Size in Underwood
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 11 15 9 0
Occupied Rental Units by Size in Underwood

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

Among renter households in this market, 34 percent have housing cost burden. Further, 6 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 Underwood

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $640 to $1,395. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $640
One BR $718
Two BR $944
Three BR $1,289
Four BR $1,395
2024 Fair Market Rents in Underwood, Minnesota

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

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 7 64 percent
Two BR 8 53 percent
Rental Units Below FMR in Underwood, Minnesota

How many affordable rental units are in Underwood?

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

Federal Program Unit Count
Public Housing 3
USDA Section 515 Rural Rental Housing 16
Tracked Units by Federal Program in Underwood, Minnesota

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

Income Based Apartments in Underwood, Minnesota

Underwood features 16 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 Underwood, Minnesota

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

Housing Choice Vouchers in Underwood, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Underwood, Minnesota for a two-bedroom apartment is between $850 and $1,038.

Sourced from federal housing data and AffordableHousingOnline.com research.