What HUD offices serve Punta Gorda, Florida?
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 Florida Public Housing and Low-Income Apartments Waiting Lists page for openings near Punta Gorda.
How many renters live in Punta Gorda, Florida?
The City of Punta Gorda has 19,605 people living in 9,827 households.
There are 3,248 renters living in 1,729 renter households in this City. Renters make up 16.57 percent of the population living in Punta Gorda.
What is the rental market like in Punta Gorda, Florida?
There are an estimated 13,308 housing units in the Punta Gorda area. Of these, 1,913 units are rental homes, making up 14 percent of the housing market. For every renter household in Punta Gorda, Florida, there are 1 rental units.
What is the vacancy rate for rentals in Punta Gorda?
The rental vacancy rate in Punta Gorda is 8 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 Punta Gorda for each bedroom size?
Occupied Rental Units by Size in Punta Gorda
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 57 | 248 | 940 | 444 | 31 |
Occupied Rental Units by Size in Punta Gorda
A large number of apartments in Punta Gorda 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 Punta Gorda are overburdened by housing costs?
Among renter households in this market, 56 percent have housing cost burden. Further, 26 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 Punta Gorda
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,089 to $2,306. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,089 |
| One BR | $1,121 |
| Two BR | $1,380 |
| Three BR | $1,945 |
| Four BR | $2,306 |
2024 Fair Market Rents in Punta Gorda, Florida
How many units are rented at Fair Market Rent (FMR) in Punta Gorda?
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 | 8 | 14 percent |
| One BR | 202 | 81 percent |
| Two BR | 590 | 63 percent |
Rental Units Below FMR in Punta Gorda, Florida
How many affordable rental units are in Punta Gorda?
There are a variety of federal affordable housing programs serving households in Punta Gorda, Florida including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 607 |
| Public Housing | 178 |
| Section 811 Supportive Housing for Persons with Disabilities | 12 |
Tracked Units by Federal Program in Punta Gorda, Florida
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Punta Gorda, Florida
Punta Gorda features 150 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 Punta Gorda, Florida
There are 1,058 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Punta Gorda.
Housing Choice Vouchers in Punta Gorda, Florida
On average, Section 8 Housing Choice vouchers pay Punta Gorda landlords $800 per month towards rent. The average voucher holder contributes $300 towards rent in Punta Gorda.
The maximum amount a voucher would pay on behalf of a low-income tenant in Punta Gorda, Florida for a two-bedroom apartment is between $1,242 and $1,518.
Sourced from federal housing data and AffordableHousingOnline.com research.
