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There are 291 low-income apartments in Cerro Gordo County that offer reduced rents to eligible households. Low-income rents in Cerro Gordo County, Iowa can range from $375 to $650 depending on the number of bedrooms.
Rental assistance programs support 611 low-income homes in Cerro Gordo County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $304 towards rent each month.
Affordable rent data for some communities last confirmed on June 24th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Cerro Gordo County, Iowa
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.
| Housing Authority | Programs |
|---|---|
| North Iowa Regional Housing Authority | Public Housing |
Cerro Gordo County, Iowa Affordable Housing Data
Income Based Apartments in Cerro Gordo County, Iowa
Cerro Gordo County features 611 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 Cerro Gordo County, Iowa
There are 291 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cerro Gordo County.
Housing Choice Vouchers in Cerro Gordo County, Iowa
On average, Section 8 Housing Choice vouchers pay Cerro Gordo County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Cerro Gordo County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cerro Gordo County, Iowa for a two-bedroom apartment is between $800 and $978.
2024 Cerro Gordo County, Iowa 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 | |
|---|---|---|---|---|---|
| Cerro Gordo County, Iowa Fair Market Rent | $649 | $677 | $889 | $1,145 | $1,323 |
| Cerro Gordo County, Iowa Payment Standard Range | $584 to $714 | $609 to $745 | $800 to $978 | $1,031 to $1,260 | $1,191 to $1,455 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Cerro Gordo County, IA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 24 |
|---|---|
| Total Low Income Apartments | 904 |
| Total Housing Units with Rental Assistance | 611 |
| Percentage of Housing Units Occupied By Renters | 28.96% |
| Average Renter Household Size | 1.83 |
| Average Household Size | 2.17 |
| Median Household Income | $46,122 ±$1,395 |
| Median Rent | $617 ±$19 |
| Percentage Of Renters Overburdened | 39.37% ± 5.16pp |
| Total Population | 43,481 |
Population and Household Demographics
Cerro Gordo County is a county in Iowa with a population of 43,481. There are 19,519 households in the county with an average household size of 2.17 persons. 28.96% of households in Cerro Gordo County are renters.
Income and Rent Overburden in Cerro Gordo County
The median gross income for households in Cerro Gordo County is $46,122 a year, or $3,844 a month. The median rent for the county is $617 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cerro Gordo County, a household making less than $2,057 a month would be considered overburdened when renting an apartment at or above the median rent. 39.37% of households who rent are overburdened in Cerro Gordo County.
Area Median Income In Cerro Gordo County
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.
In Cerro Gordo County, HUD calculates the Area Median Income for a family of four as $86,200
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 Cerro Gordo County
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 Cerro Gordo County
| 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 Cerro Gordo County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,850 | $20,400 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Cerro Gordo County AMI may qualify for rental assistance programs that target Very Low Income households. |
$29,750 | $34,000 | $38,250 | $42,500 | $45,900 | $49,300 | $52,700 | $56,100 |
| 80% AMI Income Limits Renters earning up to 80% of the Cerro Gordo County AMI may qualify for rental assistance programs that target Low Income households. |
$47,600 | $54,400 | $61,200 | $68,000 | $73,450 | $78,900 | $84,350 | $89,800 |
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