Low Income Apartments and Affordable Housing For Rent in Okeechobee, FL

Discover affordable housing in Okeechobee where there are 5+ 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.

Laurel Oaks Senior Apartments

1801 NW 3rd Lane, Okeechobee, Florida 34972

Okeechobee Commons

402 NW 10th St, Okeechobee, Florida 34972

Oaks at Shannons Crossing

833 US Highway 441 SE, Okeechobee, Florida 34974

Tanglewood Apts.

420 Nw 9th Street, Okeechobee, Florida

El Mira Sol Gardens 01hr029

3317 NW 5th St, Okeechobee, Florida 34972

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Okeechobee, Florida
$20.06/hour
$8.06 (+67%) more than Florida minimum wage and $12.81 (+177%) more than the Federal minimum wage.
Learn More About Okeechobee, Florida Affordable Housing ↓

How many renters live in Okeechobee, Florida?

The City of Okeechobee has 5,319 people living in 1,960 households.

There are 1,716 renters living in 783 renter households in this City. Renters make up 32.26 percent of the population living in Okeechobee.

What is the rental market like in Okeechobee, Florida?

There are an estimated 2,147 housing units in the Okeechobee area. Of these, 783 units are rental homes, making up 36 percent of the housing market. For every renter household in Okeechobee, Florida, there are 1 rental units.

What is the vacancy rate for rentals in Okeechobee?

The rental vacancy rate in Okeechobee is 0 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 Okeechobee for each bedroom size?

Occupied Rental Units by Size in Okeechobee
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
25 147 346 232 33
Occupied Rental Units by Size in Okeechobee

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

Among renter households in this market, 42 percent have housing cost burden. Further, 15 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 Okeechobee

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $801 to $1,599. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $801
One BR $806
Two BR $1,059
Three BR $1,298
Four BR $1,599
2024 Fair Market Rents in Okeechobee, Florida

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

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 5 20 percent
One BR 56 38 percent
Two BR 138 40 percent
Rental Units Below FMR in Okeechobee, Florida

How many affordable rental units are in Okeechobee?

There are a variety of federal affordable housing programs serving households in Okeechobee, Florida including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 114
USDA Section 515 Rural Rental Housing 60
Tracked Units by Federal Program in Okeechobee, Florida

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

Income Based Apartments in Okeechobee, Florida

Okeechobee features 160 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 Okeechobee, Florida

There are 95 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Okeechobee.

Housing Choice Vouchers in Okeechobee, Florida

On average, Section 8 Housing Choice vouchers pay Okeechobee landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Okeechobee.

The maximum amount a voucher would pay on behalf of a low-income tenant in Okeechobee, Florida for a two-bedroom apartment is between $953 and $1,165.

Sourced from federal housing data and AffordableHousingOnline.com research.