What HUD offices serve Lake Elsinore, California?
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.
Go to the California Public Housing and Low-Income Apartments Waiting Lists page for openings near Lake Elsinore.
How many renters live in Lake Elsinore, California?
The City of Lake Elsinore has people living in households.
There are renters living in renter households in this City. Renters make up 30.45 percent of the population living in Lake Elsinore.
What is the rental market like in Lake Elsinore, California?
There are an estimated housing units in the Lake Elsinore area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Lake Elsinore, California, there are 0.9 rental units.
What is the vacancy rate for rentals in Lake Elsinore?
The rental vacancy rate in Lake Elsinore is 4 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 Lake Elsinore for each bedroom size?
Occupied Rental Units by Size in Lake Elsinore
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 337 | 1,123 | 1,486 | 1,592 | 1,173 |
Occupied Rental Units by Size in Lake Elsinore
A large number of apartments in Lake Elsinore 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 Lake Elsinore
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,517 to $3,304. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,517 |
| One BR | $1,611 |
| Two BR | $2,010 |
| Three BR | $2,707 |
| Four BR | $3,304 |
2024 Fair Market Rents in Lake Elsinore, California
How many units are rented at Fair Market Rent (FMR) in Lake Elsinore?
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 | 189 | 56 percent |
| One BR | 686 | 61 percent |
| Two BR | 695 | 47 percent |
Rental Units Below FMR in Lake Elsinore, California
How many affordable rental units are in Lake Elsinore?
There are a variety of federal affordable housing programs serving households in Lake Elsinore, California including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Lake Elsinore, California
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Lake Elsinore, California
Lake Elsinore features 189 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 Lake Elsinore, California
There are 463 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Elsinore.
Housing Choice Vouchers in Lake Elsinore, California
On average, Section 8 Housing Choice vouchers pay Lake Elsinore landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Lake Elsinore.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Elsinore, California for a two-bedroom apartment is between $1,809 and $2,211.
Sourced from federal housing data and AffordableHousingOnline.com research.
