Low Income Apartments and Affordable Housing For Rent in Lincoln, MO

Discover affordable housing in Lincoln where there are 2+ 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.

Cardinal Apartments

706 E Main St, Lincoln, Missouri 65338

Lincoln Community Housing, Inc

200 S Morgan St, Lincoln, Missouri 65338

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lincoln, Missouri
$15.47/hour
$3.17 (+26%) more than Missouri minimum wage and $8.22 (+113%) more than the Federal minimum wage.
Learn More About Lincoln, Missouri Affordable Housing ↓

How many renters live in Lincoln, Missouri?

The City of Lincoln has 1,493 people living in 431 households.

There are 424 renters living in 125 renter households in this City. Renters make up 28.4 percent of the population living in Lincoln.

What is the rental market like in Lincoln, Missouri?

There are an estimated 488 housing units in the Lincoln area. Of these, 142 units are rental homes, making up 29 percent of the housing market. For every renter household in Lincoln, Missouri, there are 1 rental units.

What is the vacancy rate for rentals in Lincoln?

The rental vacancy rate in Lincoln is 8 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 Lincoln for each bedroom size?

Occupied Rental Units by Size in Lincoln
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
10 23 45 40 5
Occupied Rental Units by Size in Lincoln

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

Among renter households in this market, 42 percent have housing cost burden. Further, 18 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 Lincoln

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $616 to $1,227. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $616
One BR $622
Two BR $817
Three BR $1,071
Four BR $1,227
2024 Fair Market Rents in Lincoln, Missouri

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

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 8 80 percent
One BR 20 87 percent
Two BR 30 67 percent
Rental Units Below FMR in Lincoln, Missouri

How many affordable rental units are in Lincoln?

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

Federal Program Unit Count
Low Income Housing Tax Credit 24
USDA Section 515 Rural Rental Housing 32
Tracked Units by Federal Program in Lincoln, Missouri

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

Income Based Apartments in Lincoln, Missouri

Lincoln features 32 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 Lincoln, Missouri

There are 23 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lincoln.

Housing Choice Vouchers in Lincoln, Missouri

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Lincoln, Missouri for a two-bedroom apartment is between $735 and $899.

Sourced from federal housing data and AffordableHousingOnline.com research.