Low Income Apartments For Rent in Peosta, IA

Rental assistance programs support 0 low-income homes in Peosta where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $282 towards rent each month.

Affordable rent data for some communities last confirmed on January 16th, 2024. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Peosta, 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
Eastern Iowa Regional Housing Authority	Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Family Self-Sufficiency

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

Peosta, Iowa Affordable Housing Data

Income Based Apartments in Peosta, Iowa

Peosta 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 Peosta, Iowa

There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Peosta.

Housing Choice Vouchers in Peosta, Iowa

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Peosta, Iowa for a two-bedroom apartment is between $842 and $1,030.

2024 Peosta, 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
Peosta, Iowa Fair Market Rent	$650	$712	$936	$1,259	$1,588
Peosta, Iowa Payment Standard Range	$585 to $715	$641 to $783	$842 to $1,030	$1,133 to $1,385	$1,429 to $1,747

Sourced from federal housing data and AffordableHousingOnline.com research.

Peosta, IA Affordable Housing Snapshot

Total Affordable Apartment Properties 2

Total Low Income Apartments 48

Total Housing Units with Rental Assistance 0

Percentage of Housing Units Occupied By Renters 21.17%

Average Renter Household Size 2.91

Average Household Size 3.39

Median Household Income $81,397 ±$6,853

Median Rent $768 ±$221

Percentage Of Renters Overburdened 49.54% ± 20.06pp

Total Population 1,747

Total Affordable Apartment Properties	2
Total Low Income Apartments	48
Total Housing Units with Rental Assistance	0
Percentage of Housing Units Occupied By Renters	21.17%
Average Renter Household Size	2.91
Average Household Size	3.39
Median Household Income	$81,397 ±$6,853
Median Rent	$768 ±$221
Percentage Of Renters Overburdened	49.54% ± 20.06pp
Total Population	1,747

Population and Household Demographics

Peosta is a city in Dubuque County, Iowa with a population of 1,747. There are 515 households in the city with an average household size of 3.39 persons. 21.17% of households in Peosta are renters.

Income and Rent Overburden in Peosta

The median gross income for households in Peosta is $81,397 a year, or $6,783 a month. The median rent for the city is $768 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Peosta, a household making less than $2,560 a month would be considered overburdened when renting an apartment at or above the median rent. 49.54% of households who rent are overburdened in Peosta.

Area Median Income In Peosta

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 Peosta, the AMI is calculated from all households within Dubuque County.

In Peosta, HUD calculates the Area Median Income for a family of four as $103,200

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 Peosta

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 Peosta

	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 Peosta AMI may qualify for rental assistance programs that target Extremely Low Income households.	$19,500	$22,250	$25,050	$30,000	$35,140	$40,280	$45,420	$50,560
50% AMI Income Limits Renters earning up to 50% of the Peosta AMI may qualify for rental assistance programs that target Very Low Income households.	$32,450	$37,050	$41,700	$46,300	$50,050	$53,750	$57,450	$61,150
80% AMI Income Limits Renters earning up to 80% of the Peosta AMI may qualify for rental assistance programs that target Low Income households.	$51,900	$59,300	$66,700	$74,100	$80,050	$86,000	$91,900	$97,850