What HUD offices serve New Smyrna Beach, 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 New Smyrna Beach.
How many renters live in New Smyrna Beach, Florida?
The City of New Smyrna Beach has 30,449 people living in 14,979 households.
There are 7,375 renters living in 3,636 renter households in this City. Renters make up 24.22 percent of the population living in New Smyrna Beach.
What is the rental market like in New Smyrna Beach, Florida?
There are an estimated 21,196 housing units in the New Smyrna Beach area. Of these, 4,251 units are rental homes, making up 20 percent of the housing market. For every renter household in New Smyrna Beach, Florida, there are 1 rental units.
What is the vacancy rate for rentals in New Smyrna Beach?
The rental vacancy rate in New Smyrna Beach is 13 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 New Smyrna Beach for each bedroom size?
Occupied Rental Units by Size in New Smyrna Beach
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 77 | 1,049 | 1,700 | 577 | 196 |
Occupied Rental Units by Size in New Smyrna Beach
A large number of apartments in New Smyrna Beach 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 New Smyrna Beach are overburdened by housing costs?
Among renter households in this market, 55 percent have housing cost burden. Further, 34 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 New Smyrna Beach
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $958 to $1,925. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $958 |
| One BR | $1,152 |
| Two BR | $1,413 |
| Three BR | $1,865 |
| Four BR | $1,925 |
2024 Fair Market Rents in New Smyrna Beach, Florida
How many units are rented at Fair Market Rent (FMR) in New Smyrna Beach?
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 | 28 | 36 percent |
| One BR | 462 | 44 percent |
| Two BR | 561 | 33 percent |
Rental Units Below FMR in New Smyrna Beach, Florida
How many affordable rental units are in New Smyrna Beach?
There are a variety of federal affordable housing programs serving households in New Smyrna Beach, Florida including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 192 |
| Public Housing | 126 |
Tracked Units by Federal Program in New Smyrna Beach, Florida
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in New Smyrna Beach, Florida
New Smyrna Beach features 126 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 New Smyrna Beach, Florida
There are 192 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Smyrna Beach.
Housing Choice Vouchers in New Smyrna Beach, Florida
On average, Section 8 Housing Choice vouchers pay New Smyrna Beach landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in New Smyrna Beach.
The maximum amount a voucher would pay on behalf of a low-income tenant in New Smyrna Beach, Florida for a two-bedroom apartment is between $1,272 and $1,554.
Sourced from federal housing data and AffordableHousingOnline.com research.
