Low Income Apartments and Affordable Housing For Rent in Oil City, PA

Discover affordable housing in Oil City where there are 6+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Seneca Court Apartments

232 Seneca Street, Oil City, Pennsylvania 16301

Towne Towers

7 E 2nd St, Oil City, Pennsylvania 16301

Luther Place

1 Sycamore St, Oil City, Pennsylvania 16301

Cherry Hill Apartments

19 Rockwood Ave, Oil City, Pennsylvania 16301

Century Scattered Sites

303 Fern Ct, Oil City, Pennsylvania 16301

Moran Siverly

110 Moran St, Oil City, Pennsylvania 16301

Open Until Further Notice

Reported On February 23rd, 2024 by Chris Madden

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Oil City, Pennsylvania
$16.00/hour
$8.75 (+121%) more than Pennsylvania minimum wage and $8.75 (+121%) more than the Federal minimum wage.
Learn More About Oil City, Pennsylvania Affordable Housing ↓

What HUD offices serve Oil City, Pennsylvania?

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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Oil City, Pennsylvania.
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Oil City, Pennsylvania.

Go to the Pennsylvania Public Housing and Low-Income Apartments Waiting Lists page for openings near Oil City.

How many renters live in Oil City, Pennsylvania?

The City of Oil City has 9,599 people living in 4,054 households.

There are 3,059 renters living in 1,556 renter households in this City. Renters make up 31.87 percent of the population living in Oil City.

What is the rental market like in Oil City, Pennsylvania?

There are an estimated 4,787 housing units in the Oil City area. Of these, 1,824 units are rental homes, making up 38 percent of the housing market. For every renter household in Oil City, Pennsylvania, there are 1 rental units.

What is the vacancy rate for rentals in Oil City?

The rental vacancy rate in Oil City is 9 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 Oil City for each bedroom size?

Occupied Rental Units by Size in Oil City
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
20 369 578 327 166
Occupied Rental Units by Size in Oil City

A large number of apartments in Oil City 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 Oil City are overburdened by housing costs?

Among renter households in this market, 45 percent have housing cost burden. Further, 20 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 Oil City

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $573 to $1,232. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $573
One BR $648
Two BR $845
Three BR $1,067
Four BR $1,232
2024 Fair Market Rents in Oil City, Pennsylvania

How many units are rented at Fair Market Rent (FMR) in Oil City?

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 13 65 percent
One BR 239 65 percent
Two BR 345 60 percent
Rental Units Below FMR in Oil City, Pennsylvania

How many affordable rental units are in Oil City?

There are a variety of federal affordable housing programs serving households in Oil City, Pennsylvania including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 24
Public Housing 146
Section 8 Project-Based Rental Assistance 101
Section 202 Supportive Housing for the Elderly 49
Tracked Units by Federal Program in Oil City, Pennsylvania

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Oil City, Pennsylvania

Oil City features 300 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 Oil City, Pennsylvania

There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oil City.

Housing Choice Vouchers in Oil City, Pennsylvania

On average, Section 8 Housing Choice vouchers pay Oil City landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Oil City.

The maximum amount a voucher would pay on behalf of a low-income tenant in Oil City, Pennsylvania for a two-bedroom apartment is between $761 and $930.

Sourced from federal housing data and AffordableHousingOnline.com research.