How many renters live in Oakville, Connecticut?
The City of Oakville has 9,387 people living in 3,856 households.
There are 1,789 renters living in 1,061 renter households in this City. Renters make up 19.06 percent of the population living in Oakville.
What is the rental market like in Oakville, Connecticut?
There are an estimated 4,069 housing units in the Oakville area. Of these, 1,085 units are rental homes, making up 27 percent of the housing market. For every renter household in Oakville, Connecticut, there are 1 rental units.
What is the vacancy rate for rentals in Oakville?
The rental vacancy rate in Oakville is 2 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 Oakville for each bedroom size?
Occupied Rental Units by Size in Oakville
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 13 | 373 | 205 | 449 | 21 |
Occupied Rental Units by Size in Oakville
A large number of apartments in Oakville 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 Oakville are overburdened by housing costs?
Among renter households in this market, 60 percent have housing cost burden. Further, 45 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 Oakville
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,006 to $2,024. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,006 |
| One BR | $1,160 |
| Two BR | $1,484 |
| Three BR | $1,819 |
| Four BR | $2,024 |
2024 Fair Market Rents in Oakville, Connecticut
How many units are rented at Fair Market Rent (FMR) in Oakville?
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 | 9 | 69 percent |
| One BR | 188 | 50 percent |
| Two BR | 199 | 97 percent |
Rental Units Below FMR in Oakville, Connecticut
How many affordable rental units are in Oakville?
There are a variety of federal affordable housing programs serving households in Oakville, Connecticut including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 80 |
| Section 811 Supportive Housing for Persons with Disabilities | 6 |
Tracked Units by Federal Program in Oakville, Connecticut
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Oakville, Connecticut
Oakville features 80 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 Oakville, Connecticut
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oakville.
Housing Choice Vouchers in Oakville, Connecticut
On average, Section 8 Housing Choice vouchers pay Oakville landlords $1,100 per month towards rent. The average voucher holder contributes $400 towards rent in Oakville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Oakville, Connecticut for a two-bedroom apartment is between $1,336 and $1,632.
Sourced from federal housing data and AffordableHousingOnline.com research.
