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Affordable Housing In Thousand Oaks
Ventura County, California

13 Low Income Apartment Communities In Thousand Oaks

Many Mansions

760 Warwick Ave
Thousand Oaks, California
Accepts Vouchers

Stoll House Apartments

3155 Los Robles Rd
Thousand Oaks, California
Accepts Vouchers

Many Mansions

2096 Los Feliz Dr
Thousand Oaks, California
Accepts Vouchers

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.

Income Based Apartments in Thousand Oaks, California

Thousand Oaks features 289 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 Thousand Oaks, California

There are 281 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Thousand Oaks.

Housing Choice Vouchers in Thousand Oaks, California

On average, Section 8 Housing Choice vouchers pay Thousand Oaks landlords $1,100 per month towards rent. The average voucher holder contributes $500 towards rent in Thousand Oaks.

The maximum amount a voucher would pay on behalf of a low-income tenant in Thousand Oaks, California for a two-bedroom apartment is between $1,749 and $2,137.

2020 Thousand Oaks, California Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $1,266 $1,503 $1,943 $2,709 $3,243
Payment Standard Range $1,139 to $1,393 $1,353 to $1,653 $1,749 to $2,137 $2,438 to $2,980 $2,919 to $3,567

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.

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 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 $23,700 $27,100 $30,500 $33,850 $36,600 $39,300 $42,000 $44,700
50% of Median $39,550 $45,200 $50,850 $56,450 $61,000 $65,500 $70,000 $74,550
80% of Median $63,250 $72,300 $81,350 $90,350 $97,600 $104,850 $112,050 $119,300