Affordable Housing In Okaloosa County
Florida

15 Low Income Apartment Communities In Okaloosa County

Crestview I

1450 Coremo Drive
Crestview, FL
Call For Rent
1-2 BR
HCV Welcome

Bent Creek I

209 Bent Creek Road
Crestview, FL
Call For Rent
1-2 BR
HCV Welcome

Brookmeade Villas

102 Noble Cir
Crestview, FL
Subsidized

Brentwood Apartment

107 Brentwood Ln
Crestview, FL

White Sands Manor

40 Windham Ave SE
Fort Walton Beach, FL
62+
Accessible
Elderly Supportive Housing
Subsidized

Choctaw Village

859 Gibson Rd
Fort Walton Beach, FL
Subsidized

Westminster Manor II

45 Windham Ave SE
Fort Walton Beach, FL
62+
Accessible
Elderly Supportive Housing
Subsidized

King Village Neal Cobb Villa Ed Hill Man

201 Barr Pl
Crestview, FL

Partin Heights

207 Camellia Pl
Niceville, FL

Oakview Garden II

500 Kelly Mill Rd
Valparaiso, FL

Other Housing Authorities located in Okaloosa County

Housing Authority Programs
Crestview Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing
Niceville Housing Authority Public Housing
Fort Walton Beach Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Okaloosa County, Florida

There are 15 low income housing apartment communities offering 1,324 affordable apartments for rent in Okaloosa County, Florida. Okaloosa County features 836 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 488 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Okaloosa County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Okaloosa County, FL Affordable Housing Snapshot

Total Affordable Apartment Properties 15
Total Low Income Apartments 1,324
Total Housing Units with Rental Assistance 836
Percentage of Housing Units Occupied By Renters 36.49%
Average Renter Household Size 2.47
Average Household Size 2.50
Median Household Income $55,880 ±$1,223
Median Rent $1,024 ±$21
Percentage Of Renters Overburdened 47.15% ± 2.55pp
Total Population 192,237

Population and Household Demographics

Okaloosa County is a County in Florida with a population of 192,237. There are 74,884 households in the county with an average household size of 2.50 persons. 36.49% of households in Okaloosa County are renters.

Income and Rent Overburden in Okaloosa County

The median gross income for households in Okaloosa County is $55,880 a year, or $4,657 a month. The median rent for the county is $1,024 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Okaloosa County, a household making less than $3,413 a month would be considered overburdened when renting an apartment at or above the median rent. 47.15% of households who rent are overburdened in Okaloosa County.1

Area Median Income In Okaloosa County

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.

In Okaloosa County, HUD calculates the Area Median Income for a family of four as $75,800

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 Okaloosa County

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 Okaloosa County HUD Rental Assistance in Okaloosa County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,200 $17,350 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $25,300 $28,900 $32,500 $36,100 $39,000 $41,900 $44,800 $47,700
80% of Median $40,450 $46,200 $52,000 $57,750 $62,400 $67,000 $71,650 $76,250
Low Income Housing Tax Credits in Okaloosa County

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

From 2004 to 2005, 2 low income apartment communities containing 460 rental apartments have been constructed and made affordable to low income persons in Okaloosa County 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 Okaloosa County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $25,300 $28,900 $32,500 $36,100 $39,000 $41,900 $44,800 $47,700
60% of Median $30,360 $34,680 $39,000 $43,320 $46,800 $50,280 $53,760 $57,240

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 Okaloosa County is $39,000 a year, or $3,250 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,250 by 30% to get a maximum rent of $975 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% $633 $678 $813 $939 $1,048 $1,156
60% $759 $813 $975 $1,127 $1,257 $1,388
Fair Market Rents in Okaloosa County

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
$941 $947 $1,116 $1,528 $1,959

Cities In Okaloosa County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Niceville 2 The HUD funded Public Housing Agencies that serve Niceville are the Niceville Housing Authority and Fort Walton Beach Housing Authority.
Crestview 7 The HUD funded Public Housing Agency that serves Crestview is the Crestview Housing Authority.
Fort Walton Beach 5 The HUD funded Public Housing Agency that serves Fort Walton Beach is the Fort Walton Beach Housing Authority.
Valparaiso 1
Destin 0
Lake Lorraine 0
Ocean City 0
Shalimar 0
Cinco Bayou 0
Eglin AFB 0
Laurel Hill 0
Mary Esther 0
Wright 0