Lincoln Square
North Court
Cedardale West Apartments
Cedardale South Apartments
Cedardale North Apartments
Kay Knutson Apartments Aka Asi - Owatonna, Inc
Owatonna Senior Housing, Inc Aka Maple Trail
There are 188 low-income apartments in Owatonna that offer reduced rents to eligible households. Low-income rents in Owatonna, Minnesota can range from $691 to $1,000 depending on the number of bedrooms.
Rental assistance programs support 517 low-income homes in Owatonna where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $367 towards rent each month.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Owatonna, 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 |
|---|---|
| Owatonna HRA | Section 8 Housing Choice Voucher (HCV) |
Owatonna, Minnesota Affordable Housing Data
Income Based Apartments in Owatonna, Minnesota
Owatonna features 517 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 Owatonna, Minnesota
There are 188 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Owatonna.
Housing Choice Vouchers in Owatonna, Minnesota
On average, Section 8 Housing Choice vouchers pay Owatonna landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Owatonna.
The maximum amount a voucher would pay on behalf of a low-income tenant in Owatonna, Minnesota for a two-bedroom apartment is between $955 and $1,167.
2024 Owatonna, 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 | |
|---|---|---|---|---|---|
| Owatonna, Minnesota Fair Market Rent | $808 | $814 | $1,061 | $1,495 | $1,801 |
| Owatonna, Minnesota Payment Standard Range | $727 to $889 | $733 to $895 | $955 to $1,167 | $1,346 to $1,645 | $1,621 to $1,981 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Owatonna, MN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 19 |
|---|---|
| Total Low Income Apartments | 706 |
| Total Housing Units with Rental Assistance | 517 |
| Percentage of Housing Units Occupied By Renters | 28.08% |
| Average Renter Household Size | 2.03 |
| Average Household Size | 2.45 |
| Median Household Income | $55,884 ±$3,518 |
| Median Rent | $732 ±$29 |
| Percentage Of Renters Overburdened | 50.59% ± 7.68pp |
| Total Population | 25,552 |
Population and Household Demographics
Owatonna is a city in Steele County, Minnesota with a population of 25,552. There are 10,194 households in the city with an average household size of 2.45 persons. 28.08% of households in Owatonna are renters.
Income and Rent Overburden in Owatonna
The median gross income for households in Owatonna is $55,884 a year, or $4,657 a month. The median rent for the city is $732 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Owatonna, a household making less than $2,440 a month would be considered overburdened when renting an apartment at or above the median rent. 50.59% of households who rent are overburdened in Owatonna.
Area Median Income In Owatonna
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 Owatonna, the AMI is calculated from all households within Steele County.
In Owatonna, HUD calculates the Area Median Income for a family of four as $106,800
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 Owatonna
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 Owatonna
| 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 Owatonna AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$20,200 | $23,050 | $25,950 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Owatonna AMI may qualify for rental assistance programs that target Very Low Income households. |
$33,600 | $38,400 | $43,200 | $48,000 | $51,850 | $55,700 | $59,550 | $63,400 |
| 80% AMI Income Limits Renters earning up to 80% of the Owatonna AMI may qualify for rental assistance programs that target Low Income households. |
$53,800 | $61,450 | $69,150 | $76,800 | $82,950 | $89,100 | $95,250 | $101,400 |
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