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

Discover affordable housing in Redgranite 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.

Oak Valley Apartments

259 Laing St, Redgranite, Wisconsin 54970

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 Redgranite, Wisconsin
$17.14/hour
$9.89 (+136%) more than Wisconsin minimum wage and $9.89 (+136%) more than the Federal minimum wage.
Learn More About Redgranite, Wisconsin Affordable Housing ↓

What HUD offices serve Redgranite, 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 Redgranite, Wisconsin.

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

How many renters live in Redgranite, Wisconsin?

The City of Redgranite has 2,045 people living in 552 households.

There are 277 renters living in 152 renter households in this City. Renters make up 13.55 percent of the population living in Redgranite.

What is the rental market like in Redgranite, Wisconsin?

There are an estimated 625 housing units in the Redgranite area. Of these, 174 units are rental homes, making up 28 percent of the housing market. For every renter household in Redgranite, Wisconsin, there are 1 rental units.

What is the vacancy rate for rentals in Redgranite?

The rental vacancy rate in Redgranite is 13 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 Redgranite for each bedroom size?

Occupied Rental Units by Size in Redgranite
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
5 22 100 16 9
Occupied Rental Units by Size in Redgranite

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

Among renter households in this market, 48 percent have housing cost burden. Further, 34 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 Redgranite

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $635 to $1,420. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $635
One BR $689
Two BR $905
Three BR $1,221
Four BR $1,420
2024 Fair Market Rents in Redgranite, Wisconsin

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

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 18 82 percent
Two BR 46 46 percent
Rental Units Below FMR in Redgranite, Wisconsin

How many affordable rental units are in Redgranite?

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

Federal Program Unit Count
Low Income Housing Tax Credit 12
Section 8 Project-Based Rental Assistance 25
Section 202 Supportive Housing for the Elderly 2
Tracked Units by Federal Program in Redgranite, Wisconsin

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

Income Based Apartments in Redgranite, Wisconsin

Redgranite features 12 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 Redgranite, Wisconsin

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

Housing Choice Vouchers in Redgranite, Wisconsin

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Redgranite, Wisconsin for a two-bedroom apartment is between $815 and $996.

Sourced from federal housing data and AffordableHousingOnline.com research.