How many renters live in Oxford, Alabama?
The City of Oxford has 22,019 people living in 8,177 households.
There are 5,090 renters living in 2,153 renter households in this City. Renters make up 23.12 percent of the population living in Oxford.
What is the rental market like in Oxford, Alabama?
There are an estimated 9,052 housing units in the Oxford area. Of these, 2,257 units are rental homes, making up 25 percent of the housing market. For every renter household in Oxford, Alabama, there are 1 rental units.
What is the vacancy rate for rentals in Oxford?
The rental vacancy rate in Oxford is 5 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Oxford for each bedroom size?
Occupied Rental Units by Size in Oxford
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 8 | 207 | 862 | 874 | 202 |
Occupied Rental Units by Size in Oxford
A large number of apartments in Oxford have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Oxford are overburdened by housing costs?
Among renter households in this market, 39 percent have housing cost burden. Further, 15 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Oxford
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $683 to $1,319. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $683 |
| One BR | $687 |
| Two BR | $903 |
| Three BR | $1,243 |
| Four BR | $1,319 |
2024 Fair Market Rents in Oxford, Alabama
How many units are rented at Fair Market Rent (FMR) in Oxford?
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 | 0 | 100 percent |
| One BR | 142 | 69 percent |
| Two BR | 465 | 54 percent |
Rental Units Below FMR in Oxford, Alabama
How many affordable rental units are in Oxford?
There are a variety of federal affordable housing programs serving households in Oxford, Alabama including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 144 |
| Section 8 Project-Based Rental Assistance | 125 |
| Section 202 Supportive Housing for the Elderly | 43 |
Tracked Units by Federal Program in Oxford, Alabama
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Oxford, Alabama
Oxford features 187 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 Oxford, Alabama
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oxford.
Housing Choice Vouchers in Oxford, Alabama
On average, Section 8 Housing Choice vouchers pay Oxford landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Oxford.
The maximum amount a voucher would pay on behalf of a low-income tenant in Oxford, Alabama for a two-bedroom apartment is between $813 and $993.
Sourced from federal housing data and AffordableHousingOnline.com research.
