Low Income Apartments For Rent in Sleepy Eye, MN

There are 24 low-income apartments in Sleepy Eye that offer reduced rents to eligible households. Low-income rents in Sleepy Eye, Minnesota can range from $550 to $625 depending on the number of bedrooms.

Rental assistance programs support 77 low-income homes in Sleepy Eye where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $299 towards rent each month.

Affordable rent data for some communities last confirmed on December 2nd, 2019. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Sleepy Eye, 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 Sleepy Eye	Public Housing
New Ulm Economic Development Authority	Section 8 Housing Choice Voucher (HCV); Public Housing

Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Sleepy Eye.

Sleepy Eye, Minnesota Affordable Housing Data

Income Based Apartments in Sleepy Eye, Minnesota

Sleepy Eye features 77 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 Sleepy Eye, Minnesota

There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sleepy Eye.

Housing Choice Vouchers in Sleepy Eye, Minnesota

On average, Section 8 Housing Choice vouchers pay Sleepy Eye landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Sleepy Eye.

The maximum amount a voucher would pay on behalf of a low-income tenant in Sleepy Eye, Minnesota for a two-bedroom apartment is between $815 and $996.

2024 Sleepy Eye, 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
Sleepy Eye, Minnesota Fair Market Rent	$613	$689	$905	$1,127	$1,536
Sleepy Eye, Minnesota Payment Standard Range	$552 to $674	$620 to $758	$815 to $996	$1,014 to $1,240	$1,382 to $1,690

Sourced from federal housing data and AffordableHousingOnline.com research.

Sleepy Eye, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 3

Total Low Income Apartments 101

Total Housing Units with Rental Assistance 77

Percentage of Housing Units Occupied By Renters 27.77%

Average Renter Household Size 2.15

Average Household Size 2.50

Median Household Income $45,500 ±$5,744

Median Rent $613 ±$82

Percentage Of Renters Overburdened 36.44% ± 16.49pp

Total Population 3,498

Total Affordable Apartment Properties	3
Total Low Income Apartments	101
Total Housing Units with Rental Assistance	77
Percentage of Housing Units Occupied By Renters	27.77%
Average Renter Household Size	2.15
Average Household Size	2.50
Median Household Income	$45,500 ±$5,744
Median Rent	$613 ±$82
Percentage Of Renters Overburdened	36.44% ± 16.49pp
Total Population	3,498

Population and Household Demographics

Sleepy Eye is a city in Brown County, Minnesota with a population of 3,498. There are 1,354 households in the city with an average household size of 2.50 persons. 27.77% of households in Sleepy Eye are renters.

Income and Rent Overburden in Sleepy Eye

The median gross income for households in Sleepy Eye is $45,500 a year, or $3,792 a month. The median rent for the city is $613 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sleepy Eye, a household making less than $2,043 a month would be considered overburdened when renting an apartment at or above the median rent. 36.44% of households who rent are overburdened in Sleepy Eye.

Area Median Income In Sleepy Eye

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 Sleepy Eye, the AMI is calculated from all households within Brown County.

In Sleepy Eye, HUD calculates the Area Median Income for a family of four as $91,000

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 Sleepy Eye

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 Sleepy Eye

	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 Sleepy Eye AMI may qualify for rental assistance programs that target Extremely Low Income households.	$19,150	$21,850	$24,860	$30,000	$35,140	$40,280	$45,420	$50,560
50% AMI Income Limits Renters earning up to 50% of the Sleepy Eye AMI may qualify for rental assistance programs that target Very Low Income households.	$31,850	$36,400	$40,950	$45,500	$49,150	$52,800	$56,450	$60,100
80% AMI Income Limits Renters earning up to 80% of the Sleepy Eye AMI may qualify for rental assistance programs that target Low Income households.	$51,000	$58,250	$65,550	$72,800	$78,650	$84,450	$90,300	$96,100