How many renters live in Pace, Florida?
The City of Pace has people living in households.
There are renters living in renter households in this City. Renters make up 15.98 percent of the population living in Pace.
What is the rental market like in Pace, Florida?
There are an estimated housing units in the Pace area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Pace, Florida, there are 1.03 rental units.
What is the vacancy rate for rentals in Pace?
The rental vacancy rate in Pace is 3 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 Pace for each bedroom size?
Occupied Rental Units by Size in Pace
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 57 | 57 | 488 | 531 | 327 |
Occupied Rental Units by Size in Pace
A large number of apartments in Pace 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 Pace
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,048 to $2,167. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,048 |
| One BR | $1,098 |
| Two BR | $1,278 |
| Three BR | $1,747 |
| Four BR | $2,167 |
2024 Fair Market Rents in Pace, Florida
How many units are rented at Fair Market Rent (FMR) in Pace?
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 | 57 | 100 percent |
| One BR | 50 | 88 percent |
| Two BR | 297 | 61 percent |
Rental Units Below FMR in Pace, Florida
How many affordable rental units are in Pace?
There are a variety of federal affordable housing programs serving households in Pace, Florida including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Pace, Florida
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Pace, Florida
Pace features 35 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 Pace, Florida
There are 56 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Pace.
Housing Choice Vouchers in Pace, Florida
On average, Section 8 Housing Choice vouchers pay Pace landlords $700 per month towards rent. The average voucher holder contributes $200 towards rent in Pace.
The maximum amount a voucher would pay on behalf of a low-income tenant in Pace, Florida for a two-bedroom apartment is between $1,150 and $1,406.
Sourced from federal housing data and AffordableHousingOnline.com research.