Apply to Maharishi Vedic City Apartment Waiting Lists
1752 Maharishi Center Ave Unit #2
- «
- 1
- »
There are 0 low-income apartments in Maharishi Vedic City that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Maharishi Vedic City where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Maharishi Vedic City, 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 |
|---|---|
| Area XV Multi-County Housing Agency | Section 8 Housing Choice Voucher (HCV); Public Housing |
Maharishi Vedic City, Iowa Affordable Housing Data
Income Based Apartments in Maharishi Vedic City, Iowa
Maharishi Vedic City 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 Maharishi Vedic City, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Maharishi Vedic City.
Housing Choice Vouchers in Maharishi Vedic City, Iowa
On average, Section 8 Housing Choice vouchers pay Maharishi Vedic City landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Maharishi Vedic City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Maharishi Vedic City, Iowa for a two-bedroom apartment is between $878 and $1,074.
2024 Maharishi Vedic City, 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 | |
|---|---|---|---|---|---|
| Maharishi Vedic City, Iowa Fair Market Rent | $738 | $743 | $976 | $1,180 | $1,300 |
| Maharishi Vedic City, Iowa Payment Standard Range | $664 to $812 | $669 to $817 | $878 to $1,074 | $1,062 to $1,298 | $1,170 to $1,430 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Maharishi Vedic City, IA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 1 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 54.55% |
| Average Renter Household Size | 1.59 |
| Average Household Size | 1.64 |
| Median Household Income | $55,313 ±$12,806 |
| Median Rent | $911 ±$102 |
| Percentage Of Renters Overburdened | 37.18% ± 19.12pp |
| Total Population | 738 |
Population and Household Demographics
Maharishi Vedic City is a city in Jefferson County, Iowa with a population of 738. There are 143 households in the city with an average household size of 1.64 persons. 54.55% of households in Maharishi Vedic City are renters.
Income and Rent Overburden in Maharishi Vedic City
The median gross income for households in Maharishi Vedic City is $55,313 a year, or $4,609 a month. The median rent for the city is $911 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Maharishi Vedic City, a household making less than $3,037 a month would be considered overburdened when renting an apartment at or above the median rent. 37.18% of households who rent are overburdened in Maharishi Vedic City.
Area Median Income In Maharishi Vedic City
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 Maharishi Vedic City, the AMI is calculated from all households within Jefferson County.
In Maharishi Vedic City, HUD calculates the Area Median Income for a family of four as $69,600
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 Maharishi Vedic City
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 Maharishi Vedic City
| 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 Maharishi Vedic City AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,550 | $20,050 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Maharishi Vedic City AMI may qualify for rental assistance programs that target Very Low Income households. |
$29,250 | $33,400 | $37,600 | $41,750 | $45,100 | $48,450 | $51,800 | $55,150 |
| 80% AMI Income Limits Renters earning up to 80% of the Maharishi Vedic City AMI may qualify for rental assistance programs that target Low Income households. |
$46,800 | $53,450 | $60,150 | $66,800 | $72,150 | $77,500 | $82,850 | $88,200 |
© 2002-2024 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.