What HUD offices serve Cape Coral, 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 Cape Coral.
How many renters live in Cape Coral, Florida?
The City of Cape Coral has people living in households.
There are renters living in renter households in this City. Renters make up 25.23 percent of the population living in Cape Coral.
What is the rental market like in Cape Coral, Florida?
There are an estimated housing units in the Cape Coral area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Cape Coral, Florida, there are 0.95 rental units.
What is the vacancy rate for rentals in Cape Coral?
The rental vacancy rate in Cape Coral is 6 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 Cape Coral for each bedroom size?
Occupied Rental Units by Size in Cape Coral
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 275 | 1,518 | 5,854 | 8,395 | 1,215 |
Occupied Rental Units by Size in Cape Coral
A large number of apartments in Cape Coral have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Cape Coral
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,329 to $2,499. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,329 |
| One BR | $1,331 |
| Two BR | $1,677 |
| Three BR | $2,198 |
| Four BR | $2,499 |
2024 Fair Market Rents in Cape Coral, Florida
How many units are rented at Fair Market Rent (FMR) in Cape Coral?
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 | 84 | 31 percent |
| One BR | 824 | 54 percent |
| Two BR | 3,565 | 61 percent |
Rental Units Below FMR in Cape Coral, Florida
How many affordable rental units are in Cape Coral?
There are a variety of federal affordable housing programs serving households in Cape Coral, Florida including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| Section 811 Supportive Housing for Persons with Disabilities |
Tracked Units by Federal Program in Cape Coral, Florida
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Cape Coral, Florida
Cape Coral features 22 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 Cape Coral, Florida
There are 64 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cape Coral.
Housing Choice Vouchers in Cape Coral, Florida
On average, Section 8 Housing Choice vouchers pay Cape Coral landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Cape Coral.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cape Coral, Florida for a two-bedroom apartment is between $1,509 and $1,845.
Sourced from federal housing data and AffordableHousingOnline.com research.