Low Income Apartments For Rent in Fairmount, ND

Rental assistance programs support 16 low-income homes in Fairmount 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 July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Fairmount, North Dakota

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
Richland County Housing Authority	Section 8 Housing Choice Voucher (HCV)
Housing Authority of Cass County	Section 8 Housing Choice Voucher (HCV); Public Housing

Go to the North Dakota Public Housing and Low-Income Apartments Waiting Lists page for openings near Fairmount.

Fairmount, North Dakota Affordable Housing Data

Income Based Apartments in Fairmount, North Dakota

Fairmount features 16 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 Fairmount, North Dakota

There are 8 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fairmount.

Housing Choice Vouchers in Fairmount, North Dakota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Fairmount, North Dakota for a two-bedroom apartment is between $773 and $945.

2024 Fairmount, North Dakota 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
Fairmount, North Dakota Fair Market Rent	$649	$654	$859	$1,211	$1,382
Fairmount, North Dakota Payment Standard Range	$584 to $714	$589 to $719	$773 to $945	$1,090 to $1,332	$1,244 to $1,520

Sourced from federal housing data and AffordableHousingOnline.com research.

Fairmount, ND Affordable Housing Snapshot

Total Affordable Apartment Properties 4

Total Low Income Apartments 25

Total Housing Units with Rental Assistance 16

Percentage of Housing Units Occupied By Renters 19.15%

Average Renter Household Size 2.07

Average Household Size 2.57

Median Household Income $45,750 ±$11,465

Median Rent $456 ±$57

Percentage Of Renters Overburdened 22.22% ± 49.28pp

Total Population 363

Total Affordable Apartment Properties	4
Total Low Income Apartments	25
Total Housing Units with Rental Assistance	16
Percentage of Housing Units Occupied By Renters	19.15%
Average Renter Household Size	2.07
Average Household Size	2.57
Median Household Income	$45,750 ±$11,465
Median Rent	$456 ±$57
Percentage Of Renters Overburdened	22.22% ± 49.28pp
Total Population	363

Population and Household Demographics

Fairmount is a city in Richland County, North Dakota with a population of 363. There are 141 households in the city with an average household size of 2.57 persons. 19.15% of households in Fairmount are renters.

Income and Rent Overburden in Fairmount

The median gross income for households in Fairmount is $45,750 a year, or $3,813 a month. The median rent for the city is $456 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Fairmount, a household making less than $1,520 a month would be considered overburdened when renting an apartment at or above the median rent. 22.22% of households who rent are overburdened in Fairmount.

Area Median Income In Fairmount

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 Fairmount, the AMI is calculated from all households within Richland County.

In Fairmount, HUD calculates the Area Median Income for a family of four as $96,500

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 Fairmount

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 Fairmount

	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 Fairmount AMI may qualify for rental assistance programs that target Extremely Low Income households.	$20,300	$23,200	$26,100	$30,000	$35,140	$40,280	$45,420	$50,560
50% AMI Income Limits Renters earning up to 50% of the Fairmount AMI may qualify for rental assistance programs that target Very Low Income households.	$33,800	$38,600	$43,450	$48,250	$52,150	$56,000	$59,850	$63,700
80% AMI Income Limits Renters earning up to 80% of the Fairmount AMI may qualify for rental assistance programs that target Low Income households.	$54,050	$61,800	$69,500	$77,200	$83,400	$89,600	$95,750	$101,950