; Low Income Apartments For Rent in Pequot Lakes, MN

Apply to Pequot Lakes Apartment Waiting Lists

Sibley Terrace

31203 N Oak St
Pequot Lakes, Minnesota
Subsidized
Public Housing

Alpine Apartments

31176 Pequot Blvd
Pequot Lakes, Minnesota
Subsidized
Rent Assisted
Senior
Supportive
S515
RDRA

Parkview I and II

31215 N Heath St
Pequot Lakes, Minnesota
Subsidized
Rent Assisted
Senior
Supportive
PBRA
S515
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There are 0 low-income apartments in Pequot Lakes that offer reduced rents to eligible households.

Rental assistance programs support 68 low-income homes in Pequot Lakes 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 25th, 2021. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Pequot Lakes, 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
Housing and Redevelopment Authority of Pequot Lakes Public Housing
Brainerd Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Family Self-Sufficiency
Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Pequot Lakes.

Pequot Lakes, Minnesota Affordable Housing Data

Income Based Apartments in Pequot Lakes, Minnesota

Pequot Lakes features 68 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 Pequot Lakes, Minnesota

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Pequot Lakes.

Housing Choice Vouchers in Pequot Lakes, Minnesota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Pequot Lakes, Minnesota for a two-bedroom apartment is between $994 and $1,214.

2024 Pequot Lakes, 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
Pequot Lakes, Minnesota Fair Market Rent $748 $840 $1,104 $1,373 $1,556
Pequot Lakes, Minnesota Payment Standard Range $673 to $823 $756 to $924 $994 to $1,214 $1,236 to $1,510 $1,400 to $1,712

Sourced from federal housing data and AffordableHousingOnline.com research.

Pequot Lakes, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 68
Total Housing Units with Rental Assistance 68
Percentage of Housing Units Occupied By Renters 37.84%
Average Renter Household Size 2.19
Average Household Size 2.58
Median Household Income $42,639 ±$9,090
Median Rent $616 ±$29
Percentage Of Renters Overburdened 45.53% ± 13.92pp
Total Population 2,445

Population and Household Demographics

Pequot Lakes is a city in Crow Wing County, Minnesota with a population of 2,445. There are 946 households in the city with an average household size of 2.58 persons. 37.84% of households in Pequot Lakes are renters.

Income and Rent Overburden in Pequot Lakes

The median gross income for households in Pequot Lakes is $42,639 a year, or $3,553 a month. The median rent for the city is $616 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Pequot Lakes, a household making less than $2,053 a month would be considered overburdened when renting an apartment at or above the median rent. 45.53% of households who rent are overburdened in Pequot Lakes.

Area Median Income In Pequot Lakes

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 Pequot Lakes, the AMI is calculated from all households within Crow Wing County.

In Pequot Lakes, HUD calculates the Area Median Income for a family of four as $89,700

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 Pequot Lakes

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 Pequot Lakes

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 Pequot Lakes AMI may qualify for rental assistance programs that target Extremely Low Income households.
$18,550 $21,200 $24,860 $30,000 $35,140 $40,280 $45,420 $50,560
50% AMI Income Limits
Renters earning up to 50% of the Pequot Lakes AMI may qualify for rental assistance programs that target Very Low Income households.
$30,900 $35,300 $39,700 $44,100 $47,650 $51,200 $54,700 $58,250
80% AMI Income Limits
Renters earning up to 80% of the Pequot Lakes AMI may qualify for rental assistance programs that target Low Income households.
$49,400 $56,450 $63,500 $70,550 $76,200 $81,850 $87,500 $93,150