Low Income Apartments For Rent in Monroe County, IA

Rental assistance programs support 88 low-income homes in Monroe County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $266 towards rent each month.

Affordable rent data for some communities last confirmed on October 30th, 2019. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Monroe 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
Area XV Multi-County Housing Agency	Section 8 Housing Choice Voucher (HCV); Public Housing

Go to the Iowa Public Housing and Low-Income Apartments Waiting Lists page for openings near Monroe County.

Monroe County, Iowa Affordable Housing Data

Income Based Apartments in Monroe County, Iowa

Monroe County features 88 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 Monroe County, Iowa

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monroe County.

Housing Choice Vouchers in Monroe County, Iowa

On average, Section 8 Housing Choice vouchers pay Monroe County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Monroe County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Monroe County, Iowa for a two-bedroom apartment is between $777 and $949.

2024 Monroe 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
Monroe County, Iowa Fair Market Rent	$630	$657	$863	$1,123	$1,149
Monroe County, Iowa Payment Standard Range	$567 to $693	$591 to $723	$777 to $949	$1,011 to $1,235	$1,034 to $1,264

Sourced from federal housing data and AffordableHousingOnline.com research.

Monroe County, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 2

Total Low Income Apartments 88

Total Housing Units with Rental Assistance 88

Percentage of Housing Units Occupied By Renters 25.38%

Average Renter Household Size 2.35

Average Household Size 2.37

Median Household Income $46,304 ±$4,395

Median Rent $590 ±$65

Percentage Of Renters Overburdened 23.22% ± 10.23pp

Total Population 8,002

Total Affordable Apartment Properties	2
Total Low Income Apartments	88
Total Housing Units with Rental Assistance	88
Percentage of Housing Units Occupied By Renters	25.38%
Average Renter Household Size	2.35
Average Household Size	2.37
Median Household Income	$46,304 ±$4,395
Median Rent	$590 ±$65
Percentage Of Renters Overburdened	23.22% ± 10.23pp
Total Population	8,002

Population and Household Demographics

Monroe County is a county in Iowa with a population of 8,002. There are 3,326 households in the county with an average household size of 2.37 persons. 25.38% of households in Monroe County are renters.

Income and Rent Overburden in Monroe County

The median gross income for households in Monroe County is $46,304 a year, or $3,859 a month. The median rent for the county is $590 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Monroe County, a household making less than $1,967 a month would be considered overburdened when renting an apartment at or above the median rent. 23.22% of households who rent are overburdened in Monroe County.

Area Median Income In Monroe 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 Monroe County, HUD calculates the Area Median Income for a family of four as $92,400

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 Monroe 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 Monroe 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 Monroe 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 Monroe 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 Monroe 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