; Low Income Apartments For Rent in Cold Spring, MN

Apply to Cold Spring Apartment Waiting Lists

Granite Ledge Townhomes

1400 2nd St S
Cold Spring, Minnesota
Rent Assisted
LIHTC
$730-805
2-3 BR

Pine West Complex

200 12th Ave S
Cold Spring, Minnesota
Subsidized
Rent Assisted
Senior
Supportive
S515
RDRA
$423-555
1-2 BR

John Paul Apartments

200 8th Ave N
Cold Spring, Minnesota
Subsidized
Senior
S. 202
BMIR

Cottage Court

103 12th Ave S
Cold Spring, Minnesota
Rent Assisted
LIHTC

Springhaven Pinewest II

308 12th Ave S
Cold Spring, Minnesota
Subsidized
Rent Assisted
Senior
Supportive
LIHTC
S515
RDRA
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There are 56 low-income apartments in Cold Spring that offer reduced rents to eligible households. Low-income rents in Cold Spring, Minnesota can range from $423 to $805 depending on the number of bedrooms.

Rental assistance programs support 129 low-income homes in Cold Spring 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 June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Cold Spring, Minnesota

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
Stearns County HRA Section 8 Housing Choice Voucher (HCV); Public Housing
Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Cold Spring.

Cold Spring, Minnesota Affordable Housing Data

Income Based Apartments in Cold Spring, Minnesota

Cold Spring features 129 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 Cold Spring, Minnesota

There are 56 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cold Spring.

Housing Choice Vouchers in Cold Spring, Minnesota

On average, Section 8 Housing Choice vouchers pay Cold Spring landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Cold Spring.

The maximum amount a voucher would pay on behalf of a low-income tenant in Cold Spring, Minnesota for a two-bedroom apartment is between $1,040 and $1,271.

2024 Cold Spring, Minnesota 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
Cold Spring, Minnesota Fair Market Rent $877 $906 $1,155 $1,531 $1,820
Cold Spring, Minnesota Payment Standard Range $789 to $965 $815 to $997 $1,040 to $1,271 $1,378 to $1,684 $1,638 to $2,002

Sourced from federal housing data and AffordableHousingOnline.com research.

Cold Spring, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 185
Total Housing Units with Rental Assistance 129
Percentage of Housing Units Occupied By Renters 23.51%
Average Renter Household Size 1.53
Average Household Size 2.39
Median Household Income $54,274 ±$11,341
Median Rent $640 ±$186
Percentage Of Renters Overburdened 50.65% ± 18.33pp
Total Population 4,034

Population and Household Demographics

Cold Spring is a city in Stearns County, Minnesota with a population of 4,034. There are 1,646 households in the city with an average household size of 2.39 persons. 23.51% of households in Cold Spring are renters.

Income and Rent Overburden in Cold Spring

The median gross income for households in Cold Spring is $54,274 a year, or $4,523 a month. The median rent for the city is $640 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cold Spring, a household making less than $2,133 a month would be considered overburdened when renting an apartment at or above the median rent. 50.65% of households who rent are overburdened in Cold Spring.

Area Median Income In Cold Spring

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 Cold Spring, the AMI is calculated from all households within Stearns County.

In Cold Spring, HUD calculates the Area Median Income for a family of four as $95,600

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 Cold Spring

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 Cold Spring

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 Cold Spring AMI may qualify for rental assistance programs that target Extremely Low Income households.
$19,650 $22,450 $25,250 $30,000 $35,140 $40,280 $45,420 $50,560
50% AMI Income Limits
Renters earning up to 50% of the Cold Spring AMI may qualify for rental assistance programs that target Very Low Income households.
$32,750 $37,400 $42,100 $46,750 $50,500 $54,250 $58,000 $61,750
80% AMI Income Limits
Renters earning up to 80% of the Cold Spring AMI may qualify for rental assistance programs that target Low Income households.
$52,400 $59,850 $67,350 $74,800 $80,800 $86,800 $92,800 $98,750