What HUD offices serve Lake Stevens, Washington?
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 Washington Public Housing and Low-Income Apartments Waiting Lists page for openings near Lake Stevens.
How many renters live in Lake Stevens, Washington?
The City of Lake Stevens has people living in households.
There are renters living in renter households in this City. Renters make up 25.11 percent of the population living in Lake Stevens.
What is the rental market like in Lake Stevens, Washington?
There are an estimated housing units in the Lake Stevens area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Lake Stevens, Washington, there are 1.03 rental units.
What is the vacancy rate for rentals in Lake Stevens?
The rental vacancy rate in Lake Stevens is 2 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Lake Stevens for each bedroom size?
Occupied Rental Units by Size in Lake Stevens
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 20 | 202 | 810 | 1,235 | 514 |
Occupied Rental Units by Size in Lake Stevens
A large number of apartments in Lake Stevens 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 Lake Stevens
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $2,211 to $4,080. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $2,211 |
| One BR | $2,269 |
| Two BR | $2,645 |
| Three BR | $3,510 |
| Four BR | $4,080 |
2024 Fair Market Rents in Lake Stevens, Washington
How many units are rented at Fair Market Rent (FMR) in Lake Stevens?
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 | 0 | 100 percent |
| One BR | 181 | 90 percent |
| Two BR | 261 | 32 percent |
Rental Units Below FMR in Lake Stevens, Washington
How many affordable rental units are in Lake Stevens?
There are a variety of federal affordable housing programs serving households in Lake Stevens, Washington including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Lake Stevens, Washington
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Lake Stevens, Washington
Lake Stevens features 222 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 Lake Stevens, Washington
There are 82 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Stevens.
Housing Choice Vouchers in Lake Stevens, Washington
On average, Section 8 Housing Choice vouchers pay Lake Stevens landlords $1,100 per month towards rent. The average voucher holder contributes $400 towards rent in Lake Stevens.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Stevens, Washington for a two-bedroom apartment is between $2,381 and $2,910.
Sourced from federal housing data and AffordableHousingOnline.com research.