Affordable Housing In Wisconsin Rapids
13 Low Income Apartment Communities In Wisconsin Rapids
Housing Authorities that serve Wisconsin Rapids
|Wisconsin Rapids Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Wisconsin Rapids, Wisconsin
There are 13 low income housing apartment communities offering 560 affordable apartments for rent in Wisconsin Rapids, Wisconsin.
Income Based Apartments in Wisconsin Rapids, Wisconsin
Wisconsin Rapids features 389 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 Wisconsin Rapids, Wisconsin
There are 171 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wisconsin Rapids.
Housing Choice Vouchers in Wisconsin Rapids, Wisconsin
On average, Section 8 Housing Choice vouchers pay Wisconsin Rapids landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Wisconsin Rapids.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wisconsin Rapids, Wisconsin for a two-bedroom apartment is between $680 and $832.
2020 Wisconsin Rapids, 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|
|Fair Market Rent||$499||$574||$756||$952||$1,024|
|Payment Standard Range||$449 to $549||$517 to $631||$680 to $832||$857 to $1,047||$922 to $1,126|
Sourced from federal housing data and AffordableHousingOnline.com research.
Wisconsin Rapids, WI Affordable Housing Snapshot
|Total Affordable Apartment Properties||13|
|Total Low Income Apartments||560|
|Total Housing Units with Rental Assistance||389|
|Percentage of Housing Units Occupied By Renters||37.5%|
|Average Renter Household Size||2.03|
|Average Household Size||2.11|
|Median Household Income||$36,680 ±$2,712|
|Median Rent||$632 ±$30|
|Percentage Of Renters Overburdened||42.68% ± 6.09pp|
Population and Household Demographics
Wisconsin Rapids is a city in Wood County, Wisconsin with a population of 18,104. There are 8,383 households in the city with an average household size of 2.11 persons. 37.5% of households in Wisconsin Rapids are renters.
Income and Rent Overburden in Wisconsin Rapids
The median gross income for households in Wisconsin Rapids is $36,680 a year, or $3,057 a month. The median rent for the city is $632 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wisconsin Rapids, a household making less than $2,107 a month would be considered overburdened when renting an apartment at or above the median rent. 42.68% of households who rent are overburdened in Wisconsin Rapids.
Area Median Income In Wisconsin Rapids
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 Wisconsin Rapids, the AMI is calculated from all households within Wood County.
In Wisconsin Rapids, HUD calculates the Area Median Income for a family of four as $73,600
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 Wisconsin Rapids
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 Wisconsin Rapids
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$15,500||$17,700||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$25,800||$29,450||$33,150||$36,800||$39,750||$42,700||$45,650||$48,600|
|80% of Median||$41,250||$47,150||$53,050||$58,900||$63,650||$68,350||$73,050||$77,750|