Affordable Housing In Yellow Medicine County

5 Low Income Apartment Communities In Yellow Medicine County

Valley View Apartments

102 Division St E
Canby, MN

Valhalla Apartments

1012 12th Ave
Clarkfield, MN

Yellow Medicine Manor

133 W 1st St
Hanley Falls, MN

Clarkview Apartments

1113 11th Ave
Clarkfield, MN
HCV Welcome

Twin Woods Apartments

1202 Haarfager Ave N
Canby, MN
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Other Housing Authorities located in Yellow Medicine County

Housing Authority Programs
Housing and Redevelopment Authority of Clarkfield Public Housing

Guide To Affordable Housing in Yellow Medicine County, Minnesota

There are 5 low income housing apartment communities offering 94 affordable apartments for rent in Yellow Medicine County, Minnesota. Yellow Medicine County features 58 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 36 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Yellow Medicine County.

Sourced from federal housing data and research.

Yellow Medicine County, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 94
Total Housing Units with Rental Assistance 58
Percentage of Housing Units Occupied By Renters 21.16%
Average Renter Household Size 2.02
Average Household Size 2.33
Median Household Income $53,041 ±$2,157
Median Rent $578 ±$22
Percentage Of Renters Overburdened 37.95% ± 6.39pp
Total Population 10,092

Population and Household Demographics

Yellow Medicine County is a County in Minnesota with a population of 10,092. There are 4,196 households in the county with an average household size of 2.33 persons. 21.16% of households in Yellow Medicine County are renters.

Income and Rent Overburden in Yellow Medicine County

The median gross income for households in Yellow Medicine County is $53,041 a year, or $4,420 a month. The median rent for the county is $578 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Yellow Medicine County, a household making less than $1,927 a month would be considered overburdened when renting an apartment at or above the median rent. 37.95% of households who rent are overburdened in Yellow Medicine County.1

Area Median Income In Yellow Medicine County

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.

In Yellow Medicine County, HUD calculates the Area Median Income for a family of four as $68,300

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 Yellow Medicine County

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 Yellow Medicine County HUD Rental Assistance in Yellow Medicine County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,200 $17,400 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $25,350 $29,000 $32,600 $36,200 $39,100 $42,000 $44,900 $47,800
80% of Median $40,550 $46,350 $52,150 $57,900 $62,550 $67,200 $71,800 $76,450
Low Income Housing Tax Credits in Yellow Medicine County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1987 to 1987, 1 low income apartment communities containing 8 rental apartments have been constructed and made affordable to low income persons in Yellow Medicine County by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Yellow Medicine County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $25,350 $29,000 $32,600 $36,200 $39,100 $42,000 $44,900 $47,800
60% of Median $30,420 $34,800 $39,120 $43,440 $46,920 $50,400 $53,880 $57,360

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Yellow Medicine County is $39,120 a year, or $3,260 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,260 by 30% to get a maximum rent of $978 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $634 $679 $815 $941 $1,050 $1,159
60% $761 $815 $978 $1,130 $1,260 $1,391
Fair Market Rents in Yellow Medicine County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$471 $575 $714 $964 $967

Cities In Yellow Medicine County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Canby 2
Clarkfield 2 The HUD funded Public Housing Agency that serves Clarkfield is the Housing and Redevelopment Authority of Clarkfield.
Porter 0
St Leo 0
Hanley Falls 1
Burton 0
Echo 0
Echoship 0
Florida 0
Fortier 0
Friend 0
Hammer 0
Hazel Run 0
Hazel Runship 0
Lisbon 0
Minnesota Falls 0
Norman 0
Normania 0
Omro 0
Oshkosh 0
Posen 0
St. Leo 0
Sandnes 0
Sioux Agency 0
Stony Run 0
Swede Prairie 0
Tyro 0
Wergeland 0
Wood Lake 0
Wood Lakeship 0