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There are 746 low-income apartments in Grand Island that offer reduced rents to eligible households. Low-income rents in Grand Island, Nebraska can range from $530 to $595 depending on the number of bedrooms.
Rental assistance programs support 622 low-income homes in Grand Island where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $327 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 Grand Island, Nebraska
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 |
|---|---|
| Hall County Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
Grand Island, Nebraska Affordable Housing Data
Income Based Apartments in Grand Island, Nebraska
Grand Island features 622 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 Grand Island, Nebraska
There are 746 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Grand Island.
Housing Choice Vouchers in Grand Island, Nebraska
On average, Section 8 Housing Choice vouchers pay Grand Island landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Grand Island.
The maximum amount a voucher would pay on behalf of a low-income tenant in Grand Island, Nebraska for a two-bedroom apartment is between $887 and $1,085.
2024 Grand Island, Nebraska 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 | |
|---|---|---|---|---|---|
| Grand Island, Nebraska Fair Market Rent | $673 | $792 | $986 | $1,262 | $1,455 |
| Grand Island, Nebraska Payment Standard Range | $606 to $740 | $713 to $871 | $887 to $1,085 | $1,136 to $1,388 | $1,310 to $1,601 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Grand Island, NE Affordable Housing Snapshot
| Total Affordable Apartment Properties | 24 |
|---|---|
| Total Low Income Apartments | 1,378 |
| Total Housing Units with Rental Assistance | 622 |
| Percentage of Housing Units Occupied By Renters | 40.98% |
| Average Renter Household Size | 2.40 |
| Average Household Size | 2.66 |
| Median Household Income | $46,831 ±$2,158 |
| Median Rent | $657 ±$19 |
| Percentage Of Renters Overburdened | 38.72% ± 4.5pp |
| Total Population | 50,582 |
Population and Household Demographics
Grand Island is a city in Hall County, Nebraska with a population of 50,582. There are 18,721 households in the city with an average household size of 2.66 persons. 40.98% of households in Grand Island are renters.
Income and Rent Overburden in Grand Island
The median gross income for households in Grand Island is $46,831 a year, or $3,903 a month. The median rent for the city is $657 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Grand Island, a household making less than $2,190 a month would be considered overburdened when renting an apartment at or above the median rent. 38.72% of households who rent are overburdened in Grand Island.
Area Median Income In Grand Island
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 Grand Island, the AMI is calculated from all households within Hall County.
In Grand Island, HUD calculates the Area Median Income for a family of four as $82,100
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 Grand Island
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 Grand Island
| 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 Grand Island AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,500 | $20,000 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Grand Island AMI may qualify for rental assistance programs that target Very Low Income households. |
$29,150 | $33,300 | $37,450 | $41,600 | $44,950 | $48,300 | $51,600 | $54,950 |
| 80% AMI Income Limits Renters earning up to 80% of the Grand Island AMI may qualify for rental assistance programs that target Low Income households. |
$46,600 | $53,250 | $59,900 | $66,550 | $71,900 | $77,200 | $82,550 | $87,850 |
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