Affordable Housing In Rice Lake
12 Low Income Apartment Communities In Rice Lake
Housing Authorities that serve Rice Lake
|Rice Lake Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
|Barron County Housing Authority||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Rice Lake, Wisconsin
There are 12 low income housing apartment communities offering 426 affordable apartments for rent in Rice Lake, Wisconsin.
Income Based Apartments in Rice Lake, Wisconsin
Rice Lake features 237 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 Rice Lake, Wisconsin
There are 165 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rice Lake.
Housing Choice Vouchers in Rice Lake, Wisconsin
On average, Section 8 Housing Choice vouchers pay Rice Lake landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Rice Lake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Rice Lake, Wisconsin for a two-bedroom apartment is between $661 and $807.
2021 Rice Lake, 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|
|Rice Lake, Wisconsin Fair Market Rent||$529||$557||$734||$993||$1,026|
|Rice Lake, Wisconsin Payment Standard Range||$476 to $582||$501 to $613||$661 to $807||$894 to $1,092||$923 to $1,129|
Sourced from federal housing data and AffordableHousingOnline.com research.
Rice Lake, WI Affordable Housing Snapshot
|Total Affordable Apartment Properties||12|
|Total Low Income Apartments||426|
|Total Housing Units with Rental Assistance||237|
|Percentage of Housing Units Occupied By Renters||46.6%|
|Average Renter Household Size||1.76|
|Average Household Size||2.07|
|Median Household Income||$36,147 ±$1,935|
|Median Rent||$581 ±$32|
|Percentage Of Renters Overburdened||45.64% ± 9.34pp|
Population and Household Demographics
Rice Lake is a city in Barron County, Wisconsin with a population of 8,355. There are 3,936 households in the city with an average household size of 2.07 persons. 46.6% of households in Rice Lake are renters.
Income and Rent Overburden in Rice Lake
The median gross income for households in Rice Lake is $36,147 a year, or $3,012 a month. The median rent for the city is $581 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rice Lake, a household making less than $1,937 a month would be considered overburdened when renting an apartment at or above the median rent. 45.64% of households who rent are overburdened in Rice Lake.
Area Median Income In Rice Lake
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 Rice Lake, the AMI is calculated from all households within Barron County.
In Rice Lake, HUD calculates the Area Median Income for a family of four as $66,200
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 Rice Lake
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 HUD Rental Assistance in Rice Lake
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Rice Lake AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Rice Lake AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Rice Lake AMI may qualify for rental assistance programs that target Low Income households.