Poplar Ridge Apartments
- «
- 1
- »
There are 0 low-income apartments in Norwood Young America that offer reduced rents to eligible households.
Rental assistance programs support 24 low-income homes in Norwood Young America 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 May 29th, 2019. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Norwood Young America, 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 |
|---|---|
| Metropolitan Council Housing and Redevelopment Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
| Carver County Community Development Agency | Public Housing |
Norwood Young America, Minnesota Affordable Housing Data
Income Based Apartments in Norwood Young America, Minnesota
Norwood Young America 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 Norwood Young America, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Norwood Young America.
Housing Choice Vouchers in Norwood Young America, Minnesota
On average, Section 8 Housing Choice vouchers pay Norwood Young America landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Norwood Young America.
The maximum amount a voucher would pay on behalf of a low-income tenant in Norwood Young America, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.
2024 Norwood Young America, 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 | |
|---|---|---|---|---|---|
| Norwood Young America, Minnesota Fair Market Rent | $1,174 | $1,327 | $1,622 | $2,188 | $2,478 |
| Norwood Young America, Minnesota Payment Standard Range | $1,057 to $1,291 | $1,194 to $1,460 | $1,460 to $1,784 | $1,969 to $2,407 | $2,230 to $2,726 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Norwood Young America, MN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 2 |
|---|---|
| Total Low Income Apartments | 74 |
| Total Housing Units with Rental Assistance | 24 |
| Percentage of Housing Units Occupied By Renters | 33.93% |
| Average Renter Household Size | 2.06 |
| Average Household Size | 2.49 |
| Median Household Income | $62,850 ±$5,185 |
| Median Rent | $600 ±$85 |
| Percentage Of Renters Overburdened | 36.11% ± 13.42pp |
| Total Population | 3,630 |
Population and Household Demographics
Norwood Young America is a city in Carver County, Minnesota with a population of 3,630. There are 1,453 households in the city with an average household size of 2.49 persons. 33.93% of households in Norwood Young America are renters.
Income and Rent Overburden in Norwood Young America
The median gross income for households in Norwood Young America is $62,850 a year, or $5,238 a month. The median rent for the city is $600 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Norwood Young America, a household making less than $2,000 a month would be considered overburdened when renting an apartment at or above the median rent. 36.11% of households who rent are overburdened in Norwood Young America.
Area Median Income In Norwood Young America
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 Norwood Young America, the AMI is calculated from all households within Carver County.
In Norwood Young America, HUD calculates the Area Median Income for a family of four as $124,900
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 Norwood Young America
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 Norwood Young America
| 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 Norwood Young America AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$26,100 | $29,800 | $33,550 | $37,250 | $40,250 | $43,250 | $46,200 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Norwood Young America AMI may qualify for rental assistance programs that target Very Low Income households. |
$43,500 | $49,700 | $55,900 | $62,100 | $67,100 | $72,050 | $77,050 | $82,000 |
| 80% AMI Income Limits Renters earning up to 80% of the Norwood Young America AMI may qualify for rental assistance programs that target Low Income households. |
$66,300 | $75,750 | $85,200 | $94,650 | $102,250 | $109,800 | $117,400 | $124,950 |
© 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.