Low Income Apartments In Sarasota
Sarasota County, Florida

Low Income Apartments In Sarasota

J. H. Floyd Sunshine Village

1777 18th St
Sarasota, FL
Income Based
Studio-1 BR
62+
Accessible
Elderly Supportive Housing
Subsidized

University Club

3203 Nature Cir
Sarasota, FL
$740-1,092
1-4 BR
HCV Welcome

Bayou Oaks

1160 Four Seasons Circle
Sarasota, FL
1-2 BR
HCV Welcome

Meadow Park

1845 18th St
Sarasota, FL
1 BR
62+
Accessible
Elderly Supportive Housing
Subsidized

Janies Garden - Phase I

2458 Central Ave
Sarasota, FL

Orchard Place of Sarasota

1300 N Lockwood Ridge Rd
Sarasota, FL
Accessible
Disabled Supportive Housing
Subsidized

Beneva Oak Apartments

650 N Beneva Rd
Sarasota, FL
62+
Accessible
Elderly Supportive Housing
Subsidized

Janies Garden II

2520 Central Ave
Sarasota, FL
HCV Welcome

Casa Santa Marta

1576 8th St
Sarasota, FL
62+
Accessible
Elderly Supportive Housing
Subsidized

Casa Santa Marta II

800 N Lemon Ave
Sarasota, FL
62+
Accessible
Elderly Supportive Housing
Subsidized

There are 16 low income housing apartment complexes which contain 1,393 affordable apartments for rent in Sarasota, Florida. Many of these rental apartments are income based housing with about 965 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 75 Project-Based Section 8 subsidized apartments in Sarasota. There are 428 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Sarasota

Housing Authority Programs
Sarasota Housing Authority Section 8 Housing Choice Voucher; Public Housing
Sarasota Board of CC Section 8 Housing Choice Voucher

Guide To Affordable Housing in Sarasota, Florida

Sarasota, FL Affordable Housing Snapshot

Total Affordable Apartment Properties 16
Total Low Income Apartments 1,393
Total Rent Assisted Apartments 965
Percentage of Housing Units Occupied By Renters 46.79%
Average Renter Household Size 2.18
Total Population 53,583
Housing Units 23,461
Average Household Size 2.14
Median Household Income $43,244 ±$1,829
Median Rent $933 ±$24
Percentage Of Renters Overburdened 50.1% ± 3.46pp

Population and Household Demographics

Sarasota is a City in Sarasota County, Florida with a population of 53,583. There are 23,461 households in the city with an average household size of 2.14 persons. 46.79% of households in Sarasota are renters.

Income and Rent Overburden in Sarasota

The median gross income for households in Sarasota is $43,244 a year, or $3,604 a month. The median rent for the city is $933 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sarasota, a household making less than $3,110 a month would be considered overburdened when renting an apartment at or above the median rent. 50.1% of households who rent are overburdened in Sarasota.1

Area Median Income In Sarasota

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 Sarasota, the AMI is calculated from all households within Sarasota County.

In Sarasota, HUD calculates the Area Median Income for a family of four as $70,300

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 Sarasota

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 Sarasota HUD Rental Assistance in Sarasota

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,800 $16,900 $20,780 $25,100 $29,420 $33,740 $38,060 $42,380
50% of Median $24,650 $28,150 $31,650 $35,150 $38,000 $40,800 $43,600 $46,400
80% of Median $39,400 $45,000 $50,650 $56,250 $60,750 $65,250 $69,750 $74,250
Low Income Housing Tax Credits in Sarasota

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

From 2000 to 2011, 4 low income apartment communities containing 408 rental apartments have been constructed and made affordable to low income persons in Sarasota 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 Sarasota

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $29,580 $33,780 $37,980 $42,180 $45,600 $48,960 $52,320 $55,680

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 Sarasota is $37,980 a year, or $3,165 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,165 by 30% to get a maximum rent of $950 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% $616 $660 $791 $914 $1,020 $1,125
60% $740 $792 $950 $1,097 $1,224 $1,350
Fair Market Rents in Sarasota

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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$811 $925 $1,180 $1,597 $1,950