Sioux Rapids Rtrmt
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There are 0 low-income apartments in Sioux Rapids that offer reduced rents to eligible households.
Rental assistance programs support 24 low-income homes in Sioux Rapids where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $-4 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.
Sioux Rapids, Iowa Affordable Housing Data
Income Based Apartments in Sioux Rapids, Iowa
Sioux Rapids features 24 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 Sioux Rapids, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sioux Rapids.
Housing Choice Vouchers in Sioux Rapids, Iowa
On average, Section 8 Housing Choice vouchers pay Sioux Rapids landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Sioux Rapids.
The maximum amount a voucher would pay on behalf of a low-income tenant in Sioux Rapids, Iowa for a two-bedroom apartment is between $819 and $1,001.
2024 Sioux Rapids, 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 | |
|---|---|---|---|---|---|
| Sioux Rapids, Iowa Fair Market Rent | $688 | $693 | $910 | $1,171 | $1,212 |
| Sioux Rapids, Iowa Payment Standard Range | $619 to $757 | $624 to $762 | $819 to $1,001 | $1,054 to $1,288 | $1,091 to $1,333 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Sioux Rapids, IA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 24 |
| Total Housing Units with Rental Assistance | 24 |
| Percentage of Housing Units Occupied By Renters | 28.28% |
| Average Renter Household Size | 2.12 |
| Average Household Size | 2.15 |
| Median Household Income | $39,375 ±$6,927 |
| Median Rent | $470 ±$59 |
| Percentage Of Renters Overburdened | 28.57% ± 18.4pp |
| Total Population | 663 |
Population and Household Demographics
Sioux Rapids is a city in Buena Vista County, Iowa with a population of 663. There are 297 households in the city with an average household size of 2.15 persons. 28.28% of households in Sioux Rapids are renters.
Income and Rent Overburden in Sioux Rapids
The median gross income for households in Sioux Rapids is $39,375 a year, or $3,281 a month. The median rent for the city is $470 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sioux Rapids, a household making less than $1,567 a month would be considered overburdened when renting an apartment at or above the median rent. 28.57% of households who rent are overburdened in Sioux Rapids.
Area Median Income In Sioux 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 Sioux Rapids, the AMI is calculated from all households within Buena Vista County.
In Sioux Rapids, HUD calculates the Area Median Income for a family of four as $90,000
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 Sioux 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 Sioux Rapids
| 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 Sioux Rapids 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 Sioux Rapids 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 Sioux Rapids 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 |
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