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Low Income Apartments and Affordable Housing For Rent in Madison, SD

Discover affordable housing in Madison where there are 11+ 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.

Image of Harvest Point Apartments

Harvest Point Apartments

511 SE 9th St, Madison, South Dakota 57042

bed 2-3
payment $748-783/mo.
Image of Lakeview Tower

Lakeview Tower

111 S Washington Ave, Madison, South Dakota 57042

bed Studio-2
Image of Ecco, Inc

Ecco, Inc

1105 N Harth Ave, Madison, South Dakota 57042

switch_access_shortcut Short Wait
payment Subsidized
elderly Senior
payment Income Based
Image of Lincoln Arms

Lincoln Arms

1036 N Lincoln Ave, Madison, South Dakota 57042

Image of Parkview Apartments

Parkview Apartments

1000 NW 7th St, Madison, South Dakota 57042

payment Income Based
Image of Prairie View Apartments

Prairie View Apartments

219 SW 8th St, Madison, South Dakota 57042

payment Income Based
Image of Madison Arms

Madison Arms

1030 N Lincoln Ave, Madison, South Dakota 57042

Image of Village Green

Village Green

1005 NE 4th St, Madison, South Dakota 57042

Image of Lincoln Ave Apts

Lincoln Ave Apts

1016 N Lincoln Ave, Madison, South Dakota

Image of Horizon Ltd

Horizon Ltd

421 SE 9th St, Madison, South Dakota 57042

switch_access_shortcut Short Wait
payment Income Based
Image of South Dakota - Prairie View II Apartments

South Dakota - Prairie View II Apartments

227 SW 8th St, Madison, South Dakota 57042

auto_awesome Focus Results:
switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
elderly Senior
payment Income Based
accessibility Accessible
accessible_forward Disability

How To Identify Affordable Housing in Madison, South Dakota

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_shortcut Short Wait
 Low income apartments with no or short waiting lists.
payment Subsidized
 Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
 Apartments that accept Section 8 vouchers near you
elderly Senior
 Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
 Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
 Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
 Apartments for individuals or families with disabilities.

Lake, Miner, and McCook County, South Dakota Section 8 HCV

calendar_today Opened: Nov 1
Open Until Further Notice
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touch_app Get the Application

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Madison, South Dakota
$17.56/hour
$6.36 (+57%) more than South Dakota minimum wage and $10.31 (+142%) more than the Federal minimum wage.
Learn More About Madison, South Dakota Affordable Housing ↓

What HUD offices serve Madison, South 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.

Madison Housing And Redevelopment Commission
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Madison, South Dakota.

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

How many renters live in Madison, South Dakota?

The City of Madison has people living in households.

There are renters living in renter households in this City. Renters make up 31.57 percent of the population living in Madison.

What is the rental market like in Madison, South Dakota?

There are an estimated housing units in the Madison area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Madison, South Dakota, there are 1.07 rental units.

What is the vacancy rate for rentals in Madison?

The rental vacancy rate in Madison is 7 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Madison for each bedroom size?

Occupied Rental Units by Size in Madison
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
22 345 299 235 98
Occupied Rental Units by Size in Madison

A large number of apartments in Madison have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Madison

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $628 to $1,511. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $628
One BR $706
Two BR $927
Three BR $1,245
Four BR $1,511
2024 Fair Market Rents in Madison, South Dakota

How many units are rented at Fair Market Rent (FMR) in Madison?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search 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 22 100 percent
One BR 189 55 percent
Two BR 194 65 percent
Rental Units Below FMR in Madison, South Dakota

How many affordable rental units are in Madison?

There are a variety of federal affordable housing programs serving households in Madison, South Dakota including the following:

Federal Program Unit Count
Low Income Housing Tax Credit
Public Housing
Section 8 Project-Based Rental Assistance
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Madison, South Dakota

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Madison, South Dakota

Madison features 248 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 Madison, South Dakota

There are 33 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison.

Housing Choice Vouchers in Madison, South Dakota

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Madison, South Dakota for a two-bedroom apartment is between $834 and $1,020.

Sourced from federal housing data and AffordableHousingOnline.com research.