Affordable Housing In Thousand Oaks
Ventura County, California

13 Low Income Apartment Communities In Thousand Oaks

Conejo Future Apartments

130 Brazil Street
Thousand Oaks, CA
Call For Rent
1 BR
62+
Subsidized

Villa Garcia ( Island Village )

1379 E Thousand Oaks Blvd
Thousand Oaks, CA
Income Based
1-3 BR
HCV Welcome

Schillo Gardens

2825 Los Robles Road
Thousand Oaks, CA
HCV Welcome

Mountclef Apartments

3500 Mountclef Blvd
Thousand Oaks, CA
Subsidized

1854 Los Feliz Dr Apartments

1872 Los Feliz Dr
Thousand Oaks, CA

Esseff Village Apartments

1423 E Thousand Oaks Blvd
Thousand Oaks, CA
HCV Welcome

Florence Janss Apartments

210 Brazil St
Thousand Oaks, CA

Fiore Gardens

220 E Hillcrest Dr
Thousand Oaks, CA

California

3151 Los Robles Rd
Thousand Oaks, CA
HCV Welcome

Thousand Oaks, City Of

367 E Thousand Oaks Blvd
Thousand Oaks, CA
HCV Welcome

Housing Authorities that serve Thousand Oaks

Housing Authority Programs
Area Housing Authority of the County of Ventura Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Thousand Oaks, California

There are 13 low income housing apartment communities offering 570 affordable apartments for rent in Thousand Oaks, California. Thousand Oaks features 289 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 281 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Thousand Oaks.

Sourced from federal housing data and AffordableHousingOnline.com research.

Thousand Oaks, CA Affordable Housing Snapshot

Total Affordable Apartment Properties 13
Total Low Income Apartments 570
Total Housing Units with Rental Assistance 289
Percentage of Housing Units Occupied By Renters 29.07%
Average Renter Household Size 2.61
Average Household Size 2.75
Median Household Income $100,946 ±$2,201
Median Rent $1,814 ±$36
Percentage Of Renters Overburdened 52.66% ± 4.14pp
Total Population 128,565

Population and Household Demographics

Thousand Oaks is a City in Ventura County, California with a population of 128,565. There are 45,912 households in the city with an average household size of 2.75 persons. 29.07% of households in Thousand Oaks are renters.

Income and Rent Overburden in Thousand Oaks

The median gross income for households in Thousand Oaks is $100,946 a year, or $8,412 a month. The median rent for the city is $1,814 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Thousand Oaks, a household making less than $6,047 a month would be considered overburdened when renting an apartment at or above the median rent. 52.66% of households who rent are overburdened in Thousand Oaks.1

Area Median Income In Thousand Oaks

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Thousand Oaks, the AMI is calculated from all households within Ventura County.

In Thousand Oaks, HUD calculates the Area Median Income for a family of four as $97,800

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Thousand Oaks

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Thousand Oaks HUD Rental Assistance in Thousand Oaks

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $22,000 $25,150 $28,300 $31,400 $33,950 $36,450 $39,010 $43,430
50% of Median $36,650 $41,850 $47,100 $52,300 $56,500 $60,700 $64,900 $69,050
80% of Median $58,600 $67,000 $75,350 $83,700 $90,400 $97,100 $103,800 $110,500
Low Income Housing Tax Credits in Thousand Oaks

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1988 to 2005, 6 low income apartment communities containing 249 rental apartments have been constructed and made affordable to low income persons in Thousand Oaks by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Thousand Oaks

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $36,650 $41,850 $47,100 $52,300 $56,500 $60,700 $64,900 $69,050
60% of Median $43,980 $50,220 $56,520 $62,760 $67,800 $72,840 $77,880 $82,860

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Thousand Oaks is $56,520 a year, or $4,710 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $4,710 by 30% to get a maximum rent of $1,413 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $916 $981 $1,178 $1,360 $1,518 $1,674
60% $1,100 $1,178 $1,413 $1,632 $1,821 $2,009
Fair Market Rents in Thousand Oaks

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$1,266 $1,503 $1,943 $2,709 $3,243