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

Discover affordable housing in Waunakee 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.

Village on Main

701 W Main St, Waunakee, Wisconsin 53597

Cannery Row Senior Apartments

301 E 3rd St, Waunakee, Wisconsin 53597

Country View Apartments

607 Reeve Dr, Waunakee, Wisconsin 53597

Village Glenn Apartments

300 Omalley St, Waunakee, Wisconsin 53597

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Waunakee, Wisconsin
$25.98/hour
$18.73 (+258%) more than Wisconsin minimum wage and $18.73 (+258%) more than the Federal minimum wage.
Learn More About Waunakee, Wisconsin Affordable Housing ↓

What HUD offices serve Waunakee, 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), Public Housing, Family Self-Sufficiency programs for Waunakee, Wisconsin.

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

How many renters live in Waunakee, Wisconsin?

The City of Waunakee has 14,794 people living in 5,396 households.

There are 2,341 renters living in 1,208 renter households in this City. Renters make up 15.82 percent of the population living in Waunakee.

What is the rental market like in Waunakee, Wisconsin?

There are an estimated 5,577 housing units in the Waunakee area. Of these, 1,267 units are rental homes, making up 23 percent of the housing market. For every renter household in Waunakee, Wisconsin, there are 1 rental units.

What is the vacancy rate for rentals in Waunakee?

The rental vacancy rate in Waunakee 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 Waunakee for each bedroom size?

Occupied Rental Units by Size in Waunakee
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
43 262 552 251 100
Occupied Rental Units by Size in Waunakee

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

Among renter households in this market, 36 percent have housing cost burden. Further, 18 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 Waunakee

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,004 to $1,986. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,004
One BR $1,182
Two BR $1,372
Three BR $1,808
Four BR $1,986
2024 Fair Market Rents in Waunakee, Wisconsin

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

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 21 49 percent
One BR 188 72 percent
Two BR 418 76 percent
Rental Units Below FMR in Waunakee, Wisconsin

How many affordable rental units are in Waunakee?

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

Federal Program Unit Count
Low Income Housing Tax Credit 88
Tracked Units by Federal Program in Waunakee, Wisconsin

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

Income Based Apartments in Waunakee, Wisconsin

Waunakee features 0 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 Waunakee, Wisconsin

There are 173 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Waunakee.

Housing Choice Vouchers in Waunakee, Wisconsin

On average, Section 8 Housing Choice vouchers pay Waunakee landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Waunakee.

The maximum amount a voucher would pay on behalf of a low-income tenant in Waunakee, Wisconsin for a two-bedroom apartment is between $1,235 and $1,509.

Sourced from federal housing data and AffordableHousingOnline.com research.