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There are 175 low-income apartments in Saint Peter that offer reduced rents to eligible households. Low-income rents in Saint Peter, Minnesota can range from $305 to $990 depending on the number of bedrooms.
Rental assistance programs support 169 low-income homes in Saint Peter where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $404 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 Saint Peter, 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 |
|---|---|
| South Central Minnesota Multi County Housing and Redevelopment Authority | Section 8 Housing Choice Voucher (HCV) |
Saint Peter, Minnesota Affordable Housing Data
Income Based Apartments in Saint Peter, Minnesota
Saint Peter features 169 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 Saint Peter, Minnesota
There are 175 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Saint Peter.
Housing Choice Vouchers in Saint Peter, Minnesota
On average, Section 8 Housing Choice vouchers pay Saint Peter landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in Saint Peter.
The maximum amount a voucher would pay on behalf of a low-income tenant in Saint Peter, Minnesota for a two-bedroom apartment is between $991 and $1,211.
2024 Saint Peter, 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 | |
|---|---|---|---|---|---|
| Saint Peter, Minnesota Fair Market Rent | $897 | $903 | $1,101 | $1,552 | $1,868 |
| Saint Peter, Minnesota Payment Standard Range | $807 to $987 | $813 to $993 | $991 to $1,211 | $1,397 to $1,707 | $1,681 to $2,055 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Saint Peter, MN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 8 |
|---|---|
| Total Low Income Apartments | 344 |
| Total Housing Units with Rental Assistance | 169 |
| Percentage of Housing Units Occupied By Renters | 39.31% |
| Average Renter Household Size | 2.16 |
| Average Household Size | 2.41 |
| Median Household Income | $55,280 ±$4,674 |
| Median Rent | $823 ±$53 |
| Percentage Of Renters Overburdened | 46.02% ± 9.57pp |
| Total Population | 11,492 |
Population and Household Demographics
Saint Peter is a city in Nicollet County, Minnesota with a population of 11,492. There are 3,582 households in the city with an average household size of 2.41 persons. 39.31% of households in Saint Peter are renters.
Income and Rent Overburden in Saint Peter
The median gross income for households in Saint Peter is $55,280 a year, or $4,607 a month. The median rent for the city is $823 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Saint Peter, a household making less than $2,743 a month would be considered overburdened when renting an apartment at or above the median rent. 46.02% of households who rent are overburdened in Saint Peter.
Area Median Income In Saint Peter
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 Saint Peter, the AMI is calculated from all households within Nicollet County.
In Saint Peter, HUD calculates the Area Median Income for a family of four as $99,100
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 Saint Peter
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 Saint Peter
| 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 Saint Peter AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$20,050 | $22,900 | $25,750 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Saint Peter AMI may qualify for rental assistance programs that target Very Low Income households. |
$33,400 | $38,150 | $42,900 | $47,650 | $51,500 | $55,300 | $59,100 | $62,900 |
| 80% AMI Income Limits Renters earning up to 80% of the Saint Peter AMI may qualify for rental assistance programs that target Low Income households. |
$53,400 | $61,000 | $68,650 | $76,250 | $82,350 | $88,450 | $94,550 | $100,650 |
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