How To Identify Affordable Housing in Lake Geneva, Wisconsin
Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.
| Badge | Description |
|---|---|
switch_access_shortcutShort Wait | Low income apartments with no or short waiting lists. |
paymentSubsidized | Low income housing where the rent is subsidized and the renter pays only a portion of total rent. |
real_estate_agentAccepts Vouchers | Apartments that accept Section 8 vouchers near you |
elderlySenior | Rental housing for seniors who are 55 (or sometimes 62) and older. |
paymentIncome Based | Affordable apartments where the rent paid is based on renter income. |
accessibilityAccessible | Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy. |
accessible_forwardDisability | Apartments for individuals or families with disabilities. |
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment InLake Geneva, Wisconsin
$20.98/hour
(+189%) more thanWisconsin minimum wage and
$13.73(+189%) more than the Federal minimum wage.
Learn More About Lake Geneva, Wisconsin AffordableHousing ↓
What HUD offices serve Lake Geneva, Wisconsin?
Public Housing Agencies operate federally assisted affordable housing programs atlocal levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within theirjurisdiction.
Walworth County Housing Authority
Operates the Section 8 Housing Choice Voucher (HCV) programs for Lake Geneva, Wisconsin.
Wisconsin Housing and Economic Development Authority
Operates the Section 8 Housing Choice Voucher (HCV) programs for Lake Geneva, Wisconsin.
Go to theWisconsinPublic Housing and Low-Income Apartments Waiting Lists page for openings near Lake Geneva.
How many renters live in Lake Geneva, Wisconsin?
The City of Lake Geneva has 8,335people living in 4,073 households.
There are 3,695 renters living in1,961 renter households in thisCity. Renters make up 44.33percent of the population living in Lake Geneva.
What is the rental market like in Lake Geneva, Wisconsin?
There are an estimated 5,073 housing units in theLake Geneva area. Of these, 2,066 units are rentalhomes, making up 41 percent of the housing market. Forevery renter household in Lake Geneva, Wisconsin, there are1 rental units.
What is the vacancy rate for rentals in Lake Geneva?
The rental vacancy rate in Lake Geneva is 5 percent.This is alower than averagevacancy rate.When rental vacancy rates are low there are fewer available units. Rents tend to be higher as morepeoplecompete for scarce housing.
How many rental units are in Lake Geneva for each bedroom size?
Occupied Rental Units by Size in Lake Geneva
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms 104 531 998 252 60 Occupied Rental Units by Size in Lake Geneva
A large number of apartments in Lake Geneva have two or fewer bedrooms. Seniors and youngprofessionalsespecially may have more success finding an apartment that meets their needs.
How many renter households in Lake Geneva are overburdened by housing costs?
Among renter households in this market, 52percent havehousing cost burden. Further, 21percent of households are extremely rent overburdened. When renters pay too much for their housing, itleaveslittle money for other necessities like food, clothes, or medicine.
The federal government says that renters arecost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Lake Geneva
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - rangesfrom $751 to $1,787. FMRs areupdated annually by HUD for every city and county nationwide.
Bed Size 2024 Fair Market Rents Studio $751 One BR $843 Two BR $1,108 Three BR $1,423 Four BR $1,787 2024 Fair Market Rents in Lake Geneva, Wisconsin
How many units are rented at Fair Market Rent (FMR) in Lake Geneva?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s FairMarket Rent. Markets with a large share of units above FMR tend to have longer search times to find aqualified unit, while those with a large share of units below FMR tend to have more choices and shortersearch times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:Unit Size Count of Units Below FMR Percentage of Total Units Below FMR Studio 18 17 percent One BR 396 75 percent Two BR 283 28 percent Rental Units Below FMR in Lake Geneva, Wisconsin
How many affordable rental units are in Lake Geneva?
There are a variety of federal affordable housing programs serving households inLake Geneva, Wisconsin including the following: Rental units may be funded in part by multiple federal programs.Federal Program Unit Count Low Income Housing Tax Credit 34 Section 8 Project-Based Rental Assistance 98 Section 202 Supportive Housing for the Elderly 32 Tracked Units by Federal Program in Lake Geneva, Wisconsin
Income Based Apartments in Lake Geneva, Wisconsin
Lake Geneva features 174 income based apartments.Tenants of income based apartments typically pay no more than 30% of their income towards rent andutilities.
Low Rent Apartments in Lake Geneva, Wisconsin
There are 59 rent subsidized apartments that do notprovide direct rental assistance but remain affordable to low income households in Lake Geneva.
Housing Choice Vouchers in Lake Geneva, Wisconsin
On average, Section 8 Housing Choice vouchers pay Lake Geneva landlords$400 per month towards rent. The average voucher holdercontributes $400 towards rent inLake Geneva.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Geneva, Wisconsin fora two-bedroom apartment is between $997 and $1,219.
Sourced from federal housing data and AffordableHousingOnline.comresearch.
