Affordable Housing In Iola
Waupaca County, Wisconsin

3 Low Income Apartment Communities In Iola

Iola Senior Village

110 S Town Line Rd
Iola, WI
Accepts Vouchers

Iw East Apartments

210 Frogner St
Iola, WI
Subsidized

Iw East

E1696 North Lake Rd
Iola, WI
Accepts Vouchers
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Guide To Affordable Housing in Iola, Wisconsin

There are 3 low income housing apartment communities offering 66 affordable apartments for rent in Iola, Wisconsin.

Income Based Apartments in Iola, Wisconsin

Iola 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 Iola, Wisconsin

There are 34 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Iola.

Housing Choice Vouchers in Iola, Wisconsin

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Iola, Wisconsin for a two-bedroom apartment is between $656 and $802.

2020 Iola, Wisconsin 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 $494 $600 $729 $1,011 $1,090
Payment Standard Range $445 to $543 $540 to $660 $656 to $802 $910 to $1,112 $981 to $1,199

Sourced from federal housing data and AffordableHousingOnline.com research.

Iola, WI Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 66
Total Housing Units with Rental Assistance 32
Percentage of Housing Units Occupied By Renters %
Average Renter Household Size 0.00
Average Household Size 0.00
Median Household Income $0 ±$0
Median Rent $0 ±$0
Total Population 0

Population and Household Demographics

Iola is a City in Waupaca County, Wisconsin with a population of 0. There are 0 households in the city with an average household size of 0.00 persons. % of households in Iola are renters.

Income and Rent Overburden in Iola

The median gross income for households in Iola is $0 a year, or $0 a month. The median rent for the city is $0 a month.

Area Median Income In Iola

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Iola, the AMI is calculated from all households within Waupaca County.

In Iola, HUD calculates the Area Median Income for a family of four as $68,500

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 Iola

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 Iola HUD Rental Assistance in Iola

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,400 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,000 $27,400 $30,850 $34,250 $37,000 $39,750 $42,500 $45,250
80% of Median $38,400 $43,850 $49,350 $54,800 $59,200 $63,600 $68,000 $72,350