What HUD offices serve Drake, North Dakota?
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.
Go to the North Dakota Public Housing and Low-Income Apartments Waiting Lists page for openings near Drake.
How many renters live in Drake, North Dakota?
The City of Drake has 297 people living in 141 households.
There are 42 renters living in 25 renter households in this City. Renters make up 14.14 percent of the population living in Drake.
What is the rental market like in Drake, North Dakota?
There are an estimated 189 housing units in the Drake area. Of these, 29 units are rental homes, making up 15 percent of the housing market. For every renter household in Drake, North Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Drake?
The rental vacancy rate in Drake is 14 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 Drake for each bedroom size?
Occupied Rental Units by Size in Drake
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 4 | 9 | 11 | 0 |
Occupied Rental Units by Size in Drake
A large number of apartments in Drake 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 Drake are overburdened by housing costs?
Among renter households in this market, 28 percent have housing cost burden. Further, 20 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 Drake
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $692 to $1,458. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $692 |
| One BR | $696 |
| Two BR | $859 |
| Three BR | $1,039 |
| Four BR | $1,458 |
2024 Fair Market Rents in Drake, North Dakota
How many units are rented at Fair Market Rent (FMR) in Drake?
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 |
| One BR | 3 | 75 percent |
| Two BR | 7 | 78 percent |
Rental Units Below FMR in Drake, North Dakota
How many affordable rental units are in Drake?
There are a variety of federal affordable housing programs serving households in Drake, North Dakota including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 8 |
| USDA Section 515 Rural Rental Housing | 10 |
Tracked Units by Federal Program in Drake, North Dakota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Drake, North Dakota
Drake features 10 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 Drake, North Dakota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Drake.
Housing Choice Vouchers in Drake, North Dakota
On average, Section 8 Housing Choice vouchers pay Drake landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Drake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Drake, North Dakota for a two-bedroom apartment is between $773 and $945.
Sourced from federal housing data and AffordableHousingOnline.com research.
