Low Income Apartments and Affordable Housing For Rent in Lake Geneva, WI

Discover affordable housing in Lake Geneva where there are 4+ 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.

Walworth Apartments

250 Havenwood Dr, Lake Geneva, Wisconsin 53147

Geneva Hills Apartments

1385 Elkhorn Rd, Lake Geneva, Wisconsin 53147

The Highlands of Geneva Crossing

721 S Curtis St, Lake Geneva, Wisconsin 53147

Wisconsin

725 S Curtis St, Lake Geneva, Wisconsin 53147

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 Lake Geneva, Wisconsin
$20.98/hour
$13.73 (+189%) more than Wisconsin minimum wage and $13.73 (+189%) more than the Federal minimum wage.
Learn More About Lake Geneva, Wisconsin Affordable Housing ↓

What HUD offices serve Lake Geneva, 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 Lake Geneva, Wisconsin.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Lake Geneva, Wisconsin.

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

How many renters live in Lake Geneva, Wisconsin?

The City of Lake Geneva has 8,335 people living in 4,073 households.

There are 3,695 renters living in 1,961 renter households in this City. Renters make up 44.33 percent of the population living in Lake Geneva.

What is the rental market like in Lake Geneva, Wisconsin?

There are an estimated 5,073 housing units in the Lake Geneva area. Of these, 2,066 units are rental homes, making up 41 percent of the housing market. For every renter household in Lake Geneva, Wisconsin, there are 1 rental units.

What is the vacancy rate for rentals in Lake Geneva?

The rental vacancy rate in Lake Geneva is 5 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 Geneva for each bedroom size?

Occupied Rental Units by Size in Lake Geneva
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
104 531 998 252 60
Occupied Rental Units by Size in Lake Geneva

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

Among renter households in this market, 52 percent have housing cost burden. Further, 21 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 Lake Geneva

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $751 to $1,787. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $751
One BR $843
Two BR $1,108
Three BR $1,423
Four BR $1,787
2024 Fair Market Rents in Lake Geneva, Wisconsin

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

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 18 17 percent
One BR 396 75 percent
Two BR 283 28 percent
Rental Units Below FMR in Lake Geneva, Wisconsin

How many affordable rental units are in Lake Geneva?

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

Federal Program Unit Count
Low Income Housing Tax Credit 34
Section 8 Project-Based Rental Assistance 98
Section 202 Supportive Housing for the Elderly 32
Tracked Units by Federal Program in Lake Geneva, Wisconsin

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

Income Based Apartments in Lake Geneva, Wisconsin

Lake Geneva features 174 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 Geneva, Wisconsin

There are 59 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Geneva.

Housing Choice Vouchers in Lake Geneva, Wisconsin

On average, Section 8 Housing Choice vouchers pay Lake Geneva landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in Lake Geneva.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Geneva, Wisconsin for a two-bedroom apartment is between $997 and $1,219.

Sourced from federal housing data and AffordableHousingOnline.com research.