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

Discover affordable housing in Watertown where there are 3+ 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.

Riverside Apartments

210 Territorial St , Watertown, Minnesota 55388

bed 1
payment $878/mo.
switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

Waters Edge Townhomes

818 County Road 24, Watertown, Minnesota 55388

bed 2-3
switch_access_shortcut Short Wait
accessibility Accessible

Halter Hyland

101 Angel Ave SW, Watertown, Minnesota 55388

switch_access_shortcut Short Wait

How To Identify Affordable Housing in Watertown, Minnesota

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Watertown, Minnesota
$30.72/hour
$21.87 (+247%) more than Minnesota minimum wage and $23.47 (+324%) more than the Federal minimum wage.
Learn More About Watertown, Minnesota Affordable Housing ↓

What HUD offices serve Watertown, 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 Watertown, Minnesota.
Operates the Public Housing programs for Watertown, Minnesota.

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

How many renters live in Watertown, Minnesota?

The City of Watertown has people living in households.

There are renters living in renter households in this City. Renters make up 12.27 percent of the population living in Watertown.

What is the rental market like in Watertown, Minnesota?

There are an estimated housing units in the Watertown area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Watertown, Minnesota, there are 1.12 rental units.

What is the vacancy rate for rentals in Watertown?

The rental vacancy rate in Watertown is 11 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 Watertown for each bedroom size?

Occupied Rental Units by Size in Watertown
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
17 51 81 151 0
Occupied Rental Units by Size in Watertown

A large number of apartments in Watertown 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 Watertown

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,174 to $2,478. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,174
One BR $1,327
Two BR $1,622
Three BR $2,188
Four BR $2,478
2024 Fair Market Rents in Watertown, Minnesota

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

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 6 35 percent
One BR 51 100 percent
Two BR 81 100 percent
Rental Units Below FMR in Watertown, Minnesota

How many affordable rental units are in Watertown?

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

Federal Program Unit Count
Low Income Housing Tax Credit
Section 811 Supportive Housing for Persons with Disabilities
Tracked Units by Federal Program in Watertown, Minnesota

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

Income Based Apartments in Watertown, Minnesota

Watertown features 30 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 30 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 $1,460 and $1,784.

Sourced from federal housing data and AffordableHousingOnline.com research.

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