Affordable Housing In Minocqua
Oneida County, Wisconsin

2 Low Income Apartment Communities In Minocqua

Veda Stone Villa

8694 Packing Plant Rd
Minocqua, WI
Accessible
Disabled Supportive Housing
Subsidized

Mary John Vanderloop Villa

8764 Handrick Rd
Minocqua, WI
62+
Accessible
Elderly Supportive Housing
Subsidized
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Guide To Affordable Housing in Minocqua, Wisconsin

According to federal housing data and AffordableHousingOnline.com research, there are 2 low income housing apartment communities offering 27 affordable apartments for rent in Minocqua, Wisconsin. Minocqua features 27 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Minocqua.

Minocqua, WI Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 27
Total Housing Units with Rental Assistance 27
Percentage of Housing Units Occupied By Renters 45.18%
Average Renter Household Size 0.00
Average Household Size 1.46
Median Household Income $22,250 ±$13,177
Median Rent $491 ±$226
Percentage Of Renters Overburdened 74.16% ± 36.5pp
Total Population 288

Population and Household Demographics

Minocqua is a City in Oneida County, Wisconsin with a population of 288. There are 197 households in the city with an average household size of 1.46 persons. 45.18% of households in Minocqua are renters.

Income and Rent Overburden in Minocqua

The median gross income for households in Minocqua is $22,250 a year, or $1,854 a month. The median rent for the city is $491 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Minocqua, a household making less than $1,637 a month would be considered overburdened when renting an apartment at or above the median rent. 74.16% of households who rent are overburdened in Minocqua.1

Area Median Income In Minocqua

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 Minocqua, the AMI is calculated from all households within Oneida County.

In Minocqua, HUD calculates the Area Median Income for a family of four as $66,900

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 Minocqua

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 Minocqua HUD Rental Assistance in Minocqua

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,350 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,950 $27,400 $30,800 $34,200 $36,950 $39,700 $42,450 $45,150
80% of Median $38,300 $43,800 $49,250 $54,700 $59,100 $63,500 $67,850 $72,250

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Minocqua

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,950 $27,400 $30,800 $34,200 $36,950 $39,700 $42,450 $45,150
60% of Median $28,740 $32,880 $36,960 $41,040 $44,340 $47,640 $50,940 $54,180

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Minocqua is $36,960 a year, or $3,080 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,080 by 30% to get a maximum rent of $924 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $599 $642 $770 $889 $993 $1,095
60% $719 $770 $924 $1,067 $1,191 $1,314
Fair Market Rents in Minocqua

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$523 $677 $772 $1,040 $1,177