Low Income Apartments and Affordable Housing For Rent in Rancho Palos Verdes, CA

Discover affordable housing in Rancho Palos Verdes where there are 1+ 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.

Mirandela Senior Apartments

5555 Crestridge Rd, Rancho Palos Verdes, California 90275

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Rancho Palos Verdes, California
$48.18/hour
$32.18 (+201%) more than California minimum wage and $40.93 (+565%) more than the Federal minimum wage.
Learn More About Rancho Palos Verdes, California Affordable Housing ↓

What HUD offices serve Rancho Palos Verdes, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Family Self-Sufficiency, Section 8 Project-Based Voucher (PBV), Moderate Rehabilitation programs for Rancho Palos Verdes, California.

Go to the California Public Housing and Low-Income Apartments Waiting Lists page for openings near Rancho Palos Verdes.

How many renters live in Rancho Palos Verdes, California?

The City of Rancho Palos Verdes has 41,805 people living in 15,351 households.

There are 9,272 renters living in 3,108 renter households in this City. Renters make up 22.18 percent of the population living in Rancho Palos Verdes.

What is the rental market like in Rancho Palos Verdes, California?

There are an estimated 16,589 housing units in the Rancho Palos Verdes area. Of these, 3,301 units are rental homes, making up 20 percent of the housing market. For every renter household in Rancho Palos Verdes, California, there are 1 rental units.

What is the vacancy rate for rentals in Rancho Palos Verdes?

The rental vacancy rate in Rancho Palos Verdes is 6 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 Rancho Palos Verdes for each bedroom size?

Occupied Rental Units by Size in Rancho Palos Verdes
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
112 510 1,214 618 506
Occupied Rental Units by Size in Rancho Palos Verdes

A large number of apartments in Rancho Palos Verdes 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 Rancho Palos Verdes are overburdened by housing costs?

Among renter households in this market, 47 percent have housing cost burden. Further, 20 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 Rancho Palos Verdes

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,777 to $3,600. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,777
One BR $2,006
Two BR $2,544
Three BR $3,263
Four BR $3,600
2024 Fair Market Rents in Rancho Palos Verdes, California

How many units are rented at Fair Market Rent (FMR) in Rancho Palos Verdes?

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 23 21 percent
One BR 60 12 percent
Two BR 64 5 percent
Rental Units Below FMR in Rancho Palos Verdes, California

How many affordable rental units are in Rancho Palos Verdes?

There are a variety of federal affordable housing programs serving households in Rancho Palos Verdes, California including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 33
Section 8 Project-Based Rental Assistance 2
Section 811 Supportive Housing for Persons with Disabilities 1
Tracked Units by Federal Program in Rancho Palos Verdes, California

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

Income Based Apartments in Rancho Palos Verdes, California

Rancho Palos Verdes features 0 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 Rancho Palos Verdes, California

There are 34 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rancho Palos Verdes.

Housing Choice Vouchers in Rancho Palos Verdes, California

On average, Section 8 Housing Choice vouchers pay Rancho Palos Verdes landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Rancho Palos Verdes.

The maximum amount a voucher would pay on behalf of a low-income tenant in Rancho Palos Verdes, California for a two-bedroom apartment is between $2,290 and $2,798.

Sourced from federal housing data and AffordableHousingOnline.com research.