Affordable Housing In Yellow Medicine County
7 Low Income Apartment Communities In Yellow Medicine County
Guide To Affordable Housing in Yellow Medicine County, Minnesota
There are 7 low income housing apartment communities offering 116 affordable apartments for rent in Yellow Medicine County, Minnesota.
Income Based Apartments in Yellow Medicine County, Minnesota
Yellow Medicine County features 70 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 Yellow Medicine County, Minnesota
There are 46 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Yellow Medicine County.
Housing Choice Vouchers in Yellow Medicine County, Minnesota
On average, Section 8 Housing Choice vouchers pay Yellow Medicine County landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Yellow Medicine County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Yellow Medicine County, Minnesota for a two-bedroom apartment is between $643 and $785.
2020 Yellow Medicine County, 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||$471||$575||$714||$964||$967|
|Payment Standard Range||$424 to $518||$518 to $633||$643 to $785||$868 to $1,060||$870 to $1,064|
Sourced from federal housing data and AffordableHousingOnline.com research.
Yellow Medicine County, MN Affordable Housing Snapshot
|Total Affordable Apartment Properties||7|
|Total Low Income Apartments||116|
|Total Housing Units with Rental Assistance||70|
|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|
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.
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 $70,400
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 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 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||$15,300||$17,450||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$25,450||$29,050||$32,700||$36,300||$39,250||$42,150||$45,050||$47,950|
|80% of Median||$40,700||$46,500||$52,300||$58,100||$62,750||$67,400||$72,050||$76,700|
Cities In Yellow Medicine County
Select A City to View its Apartment Communities and Waiting Lists.
|Clarkfield||The HUD funded Public Housing Agency that serves Clarkfield is the Housing and Redevelopment Authority of Clarkfield.|