What HUD offices serve Otwell, Indiana?
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 Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Otwell.
How many renters live in Otwell, Indiana?
The City of Otwell has 368 people living in 165 households.
There are 164 renters living in 46 renter households in this City. Renters make up 44.57 percent of the population living in Otwell.
What is the rental market like in Otwell, Indiana?
There are an estimated 165 housing units in the Otwell area. Of these, 46 units are rental homes, making up 28 percent of the housing market. For every renter household in Otwell, Indiana, there are 1 rental units.
What is the vacancy rate for rentals in Otwell?
The rental vacancy rate in Otwell is 0 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 Otwell for each bedroom size?
Occupied Rental Units by Size in Otwell
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 27 | 19 | 0 |
Occupied Rental Units by Size in Otwell
A large number of apartments in Otwell 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 Otwell are overburdened by housing costs?
Among renter households in this market, 0 percent have housing cost burden. Further, 0 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 Otwell
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $600 to $1,187. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $600 |
| One BR | $769 |
| Two BR | $863 |
| Three BR | $1,182 |
| Four BR | $1,187 |
2024 Fair Market Rents in Otwell, Indiana
How many units are rented at Fair Market Rent (FMR) in Otwell?
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 |
| Two BR | 0 | 100 percent |
Rental Units Below FMR in Otwell, Indiana
How many affordable rental units are in Otwell?
There are a variety of federal affordable housing programs serving households in Otwell, Indiana including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 36 |
Tracked Units by Federal Program in Otwell, Indiana
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Otwell, Indiana
Otwell features 24 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 Otwell, Indiana
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Otwell.
Housing Choice Vouchers in Otwell, Indiana
On average, Section 8 Housing Choice vouchers pay Otwell landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Otwell.
The maximum amount a voucher would pay on behalf of a low-income tenant in Otwell, Indiana for a two-bedroom apartment is between $777 and $949.
Sourced from federal housing data and AffordableHousingOnline.com research.
