What HUD offices serve Coral Springs, 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 Coral Springs.
How many renters live in Coral Springs, Florida?
The City of Coral Springs has 133,365 people living in 44,755 households.
There are 63,246 renters living in 21,238 renter households in this City. Renters make up 47.42 percent of the population living in Coral Springs.
What is the rental market like in Coral Springs, Florida?
There are an estimated 46,823 housing units in the Coral Springs area. Of these, 18,864 units are rental homes, making up 40 percent of the housing market. For every renter household in Coral Springs, Florida, there are 1 rental units.
What is the vacancy rate for rentals in Coral Springs?
The rental vacancy rate in Coral Springs 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 Coral Springs for each bedroom size?
Occupied Rental Units by Size in Coral Springs
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 678 | 3,106 | 8,166 | 4,696 | 856 |
Occupied Rental Units by Size in Coral Springs
A large number of apartments in Coral Springs 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 Coral Springs are overburdened by housing costs?
Among renter households in this market, 63 percent have housing cost burden. Further, 29 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 Coral Springs
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,573 to $3,567. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,573 |
| One BR | $1,692 |
| Two BR | $2,102 |
| Three BR | $2,916 |
| Four BR | $3,567 |
2024 Fair Market Rents in Coral Springs, Florida
How many units are rented at Fair Market Rent (FMR) in Coral Springs?
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 | 469 | 69 percent |
| One BR | 1,693 | 55 percent |
| Two BR | 1,964 | 24 percent |
Rental Units Below FMR in Coral Springs, Florida
How many affordable rental units are in Coral Springs?
There are a variety of federal affordable housing programs serving households in Coral Springs, Florida including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 219 |
| Section 8 Project-Based Rental Assistance | 320 |
Tracked Units by Federal Program in Coral Springs, Florida
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Coral Springs, Florida
Coral Springs features 438 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 Coral Springs, Florida
There are 11 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Coral Springs.
Housing Choice Vouchers in Coral Springs, Florida
On average, Section 8 Housing Choice vouchers pay Coral Springs landlords $1,100 per month towards rent. The average voucher holder contributes $500 towards rent in Coral Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Coral Springs, Florida for a two-bedroom apartment is between $1,892 and $2,312.
Sourced from federal housing data and AffordableHousingOnline.com research.
