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Discover affordable housing in Petoskey where there are 9+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.
201 Lafayette Ave, Petoskey, Michigan 49770
1301 Crestview Dr, Petoskey, Michigan 49770
bed1-2
1695 Meadow Way, Petoskey, Michigan 49770
bed2-3
11 Bridge St , Petoskey, Michigan 49770
bed1
2002 E Mitchell Rd, Petoskey, Michigan 49770
1401 Crestview Dr, Petoskey, Michigan 49770
bed1-2
payment$470-492/mo.
1501 Crestview Dr, Petoskey, Michigan 49770
301 Lafayette Street C 104, Petoskey, Michigan 49770
405 Valleycrest, Petoskey, Michigan 49770
How To Identify Affordable Housing in Petoskey, Michigan
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. |
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The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment InPetoskey, Michigan
$22.39/hour
(+117%) more thanMichigan minimum wage and
$15.14(+209%) more than the Federal minimum wage.
Learn More About Petoskey, Michigan AffordableHousing ↓
What HUD offices serve Petoskey, Michigan?
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.
Michigan State Housing Development Authority
Operates the Section 8 Housing Choice Voucher (HCV), Homeownership Voucher, Family Self-Sufficiency, Veteran Affairs Supportive Housing (VASH), Section 8 Project-Based Voucher (PBV) programs for Petoskey, Michigan.
Go to theMichiganPublic Housing and Low-Income Apartments Waiting Lists page for openings near Petoskey.
How many renters live in Petoskey, Michigan?
The City of Petoskey has 5,859people living in 2,583 households.
There are 2,010 renters living in1,116 renter households in thisCity. Renters make up 34.31percent of the population living in Petoskey.
What is the rental market like in Petoskey, Michigan?
There are an estimated 3,231 housing units in thePetoskey area. Of these, 1,132 units are rentalhomes, making up 35 percent of the housing market. Forevery renter household in Petoskey, Michigan, there are1 rental units.
What is the vacancy rate for rentals in Petoskey?
The rental vacancy rate in Petoskey is 1 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 Petoskey for each bedroom size?
Occupied Rental Units by Size in Petoskey
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms 12 256 623 179 24 Occupied Rental Units by Size in Petoskey
A large number of apartments in Petoskey have two or fewer bedrooms. Seniors and youngprofessionalsespecially may have more success finding an apartment that meets their needs.
How many renter households in Petoskey are overburdened by housing costs?
Among renter households in this market, 23percent havehousing cost burden. Further, 10percent 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 Petoskey
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - rangesfrom $826 to $1,675. FMRs areupdated annually by HUD for every city and county nationwide.
Bed Size 2024 Fair Market Rents Studio $826 One BR $900 Two BR $1,182 Three BR $1,429 Four BR $1,675 2024 Fair Market Rents in Petoskey, Michigan
How many units are rented at Fair Market Rent (FMR) in Petoskey?
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 12 100 percent One BR 232 91 percent Two BR 459 74 percent Rental Units Below FMR in Petoskey, Michigan
How many affordable rental units are in Petoskey?
There are a variety of federal affordable housing programs serving households inPetoskey, Michigan including the following: Rental units may be funded in part by multiple federal programs.Federal Program Unit Count Low Income Housing Tax Credit 200 Section 8 Project-Based Rental Assistance 114 Tracked Units by Federal Program in Petoskey, Michigan
Income Based Apartments in Petoskey, Michigan
Petoskey features 246 income based apartments.Tenants of income based apartments typically pay no more than 30% of their income towards rent andutilities.
Low Rent Apartments in Petoskey, Michigan
There are 296 rent subsidized apartments that do notprovide direct rental assistance but remain affordable to low income households in Petoskey.
Housing Choice Vouchers in Petoskey, Michigan
On average, Section 8 Housing Choice vouchers pay Petoskey landlords$600 per month towards rent. The average voucher holdercontributes $200 towards rent inPetoskey.
The maximum amount a voucher would pay on behalf of a low-income tenant in Petoskey, Michigan fora two-bedroom apartment is between $1,064 and $1,300.
Sourced from federal housing data and AffordableHousingOnline.comresearch.
Affordable Housing Tip
Even if it looks difficult to get housing, apply anyway.
Some factors make it look like a longshot to get housing. Any waiting list opening is a legitimate chance to get housing, no mattter how long it takes.
What Renters Say About Us
Connie Bonds Pittmon says:
"I found a very nice apartment faster than I expected. Thank You Affordable Housing Online!"
