What HUD offices serve Silver Springs, 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 Silver Springs.
How many renters live in Silver Springs, Florida?
The City of Silver Springs has 25,453 people living in 9,410 households.
There are 6,723 renters living in 2,441 renter households in this City. Renters make up 26.41 percent of the population living in Silver Springs.
What is the rental market like in Silver Springs, Florida?
There are an estimated 10,408 housing units in the Silver Springs area. Of these, 2,544 units are rental homes, making up 24 percent of the housing market. For every renter household in Silver Springs, Florida, there are 1 rental units.
What is the vacancy rate for rentals in Silver Springs?
The rental vacancy rate in Silver Springs is 4 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 Silver Springs for each bedroom size?
Occupied Rental Units by Size in Silver Springs
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 33 | 339 | 484 | 1,434 | 151 |
Occupied Rental Units by Size in Silver Springs
A large number of apartments in Silver Springs 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 Silver Springs are overburdened by housing costs?
Among renter households in this market, 45 percent have housing cost burden. Further, 28 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 Silver Springs
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $949 to $1,768. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $949 |
| One BR | $1,043 |
| Two BR | $1,266 |
| Three BR | $1,619 |
| Four BR | $1,768 |
2024 Fair Market Rents in Silver Springs, Florida
How many units are rented at Fair Market Rent (FMR) in Silver Springs?
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 | 33 | 100 percent |
| One BR | 206 | 61 percent |
| Two BR | 333 | 69 percent |
Rental Units Below FMR in Silver Springs, Florida
How many affordable rental units are in Silver Springs?
Income Based Apartments in Silver Springs, Florida
Silver Springs features 0 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 Silver Springs, Florida
There are 261 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Silver Springs.
Housing Choice Vouchers in Silver Springs, Florida
On average, Section 8 Housing Choice vouchers pay Silver Springs landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Silver Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Silver Springs, Florida for a two-bedroom apartment is between $1,139 and $1,393.
Sourced from federal housing data and AffordableHousingOnline.com research.
