Low Income Apartments and Affordable Housing For Rent in Florence, WI

Discover affordable housing in Florence where there are 1+ 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.

Florence Terrace

1 Chapin St, Florence, Wisconsin 54121

calendar_today Opened: Mar 21
Open Until Further Notice

Reported On March 21st, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Florence, Wisconsin
$20.13/hour
$12.88 (+178%) more than Wisconsin minimum wage and $12.88 (+178%) more than the Federal minimum wage.
Learn More About Florence, Wisconsin Affordable Housing ↓

What HUD offices serve Florence, Wisconsin?

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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Florence, Wisconsin.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Florence, Wisconsin.

Go to the Wisconsin Public Housing and Low-Income Apartments Waiting Lists page for openings near Florence.

How many renters live in Florence, Wisconsin?

The City of Florence has 477 people living in 240 households.

There are 87 renters living in 81 renter households in this City. Renters make up 18.24 percent of the population living in Florence.

What is the rental market like in Florence, Wisconsin?

There are an estimated 303 housing units in the Florence area. Of these, 101 units are rental homes, making up 33 percent of the housing market. For every renter household in Florence, Wisconsin, there are 1 rental units.

What is the vacancy rate for rentals in Florence?

The rental vacancy rate in Florence is 20 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 Florence for each bedroom size?

Occupied Rental Units by Size in Florence
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
5 56 13 7 0
Occupied Rental Units by Size in Florence

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

Among renter households in this market, 12 percent have housing cost burden. Further, 9 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 Florence

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $745 to $1,490. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $745
One BR $809
Two BR $1,063
Three BR $1,285
Four BR $1,490
2024 Fair Market Rents in Florence, Wisconsin

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

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 5 100 percent
One BR 48 86 percent
Two BR 7 54 percent
Rental Units Below FMR in Florence, Wisconsin

How many affordable rental units are in Florence?

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

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 68
Tracked Units by Federal Program in Florence, Wisconsin

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

Income Based Apartments in Florence, Wisconsin

Florence features 24 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 Florence, Wisconsin

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Florence.

Housing Choice Vouchers in Florence, Wisconsin

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Florence, Wisconsin for a two-bedroom apartment is between $957 and $1,169.

Sourced from federal housing data and AffordableHousingOnline.com research.