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Affordable Housing In Watertown
Carver County, Minnesota

3 Low Income Apartment Communities In Watertown

Riverside Apartments

210 Territorial St
Watertown, Minnesota
$878
1 BR

Waters Edge Townhomes

818 County Road 24
Watertown, Minnesota
Call For Rent
2-3 BR

Halter Hyland

101 Angel Ave SW
Watertown, Minnesota
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Housing Authorities that serve Watertown

Housing Authority Programs
Metropolitan Council Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV); Public Housing
Carver County Community Development Agency Public Housing

Guide To Affordable Housing in Watertown, Minnesota

There are 3 low income housing apartment communities offering 60 affordable apartments for rent in Watertown, Minnesota.

Income Based Apartments in Watertown, Minnesota

Watertown features 0 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 Watertown, Minnesota

There are 60 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Watertown.

Housing Choice Vouchers in Watertown, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Watertown, Minnesota for a two-bedroom apartment is between $1,093 and $1,335.

2020 Watertown, 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 $820 $971 $1,214 $1,722 $2,025
Payment Standard Range $738 to $902 $874 to $1,068 $1,093 to $1,335 $1,550 to $1,894 $1,823 to $2,228

Sourced from federal housing data and AffordableHousingOnline.com research.

Watertown, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 60
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 22.81%
Average Renter Household Size 1.73
Average Household Size 2.40
Median Household Income $53,789 ±$12,117
Median Rent $672 ±$186
Percentage Of Renters Overburdened 66.67% ± 27.33pp
Total Population 4,257

Population and Household Demographics

Watertown is a city in Carver County, Minnesota with a population of 4,257. There are 1,749 households in the city with an average household size of 2.40 persons. 22.81% of households in Watertown are renters.

Income and Rent Overburden in Watertown

The median gross income for households in Watertown is $53,789 a year, or $4,482 a month. The median rent for the city is $672 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Watertown, a household making less than $2,240 a month would be considered overburdened when renting an apartment at or above the median rent. 66.67% of households who rent are overburdened in Watertown.

Area Median Income In Watertown

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 Watertown, the AMI is calculated from all households within Carver County.

In Watertown, HUD calculates the Area Median Income for a family of four as $103,400

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 Watertown

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 Watertown

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $21,700 $24,800 $27,900 $31,000 $33,500 $36,000 $39,640 $44,120
50% of Median $36,200 $41,400 $46,550 $51,700 $55,850 $60,000 $64,150 $68,250
80% of Median $54,950 $62,800 $70,650 $78,500 $84,800 $91,100 $97,350 $103,650