Low Income Apartments and Affordable Housing For Rent in Stock Island, FL

Discover affordable housing in Stock Island where there are 1+ 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.

Banyan Grove

5455 Macdonald Ave, Stock Island, Florida 33040

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Stock Island, Florida
$40.51/hour
$28.51 (+238%) more than Florida minimum wage and $33.26 (+459%) more than the Federal minimum wage.
Learn More About Stock Island, Florida Affordable Housing ↓

What HUD offices serve Stock Island, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Stock Island, Florida.

Go to the Florida Public Housing and Low-Income Apartments Waiting Lists page for openings near Stock Island.

How many renters live in Stock Island, Florida?

The City of Stock Island has 4,564 people living in 1,663 households.

There are 3,264 renters living in 1,212 renter households in this City. Renters make up 71.52 percent of the population living in Stock Island.

What is the rental market like in Stock Island, Florida?

There are an estimated 1,866 housing units in the Stock Island area. Of these, 1,327 units are rental homes, making up 71 percent of the housing market. For every renter household in Stock Island, Florida, there are 1 rental units.

What is the vacancy rate for rentals in Stock Island?

The rental vacancy rate in Stock Island is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Stock Island for each bedroom size?

Occupied Rental Units by Size in Stock Island
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
70 202 806 127 0
Occupied Rental Units by Size in Stock Island

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

Among renter households in this market, 71 percent have housing cost burden. Further, 38 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 Stock Island

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,556 to $3,426. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,556
One BR $1,730
Two BR $2,139
Three BR $2,812
Four BR $3,426
2024 Fair Market Rents in Stock Island, Florida

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

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 50 71 percent
One BR 36 18 percent
Two BR 295 37 percent
Rental Units Below FMR in Stock Island, Florida

How many affordable rental units are in Stock Island?

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

Federal Program Unit Count
Low Income Housing Tax Credit 329
Section 8 Project-Based Rental Assistance 97
Section 236 Rental Assistance 6
Tracked Units by Federal Program in Stock Island, Florida

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

Income Based Apartments in Stock Island, Florida

Stock Island 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 Stock Island, Florida

There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Stock Island.

Housing Choice Vouchers in Stock Island, Florida

On average, Section 8 Housing Choice vouchers pay Stock Island landlords $1,100 per month towards rent. The average voucher holder contributes $600 towards rent in Stock Island.

The maximum amount a voucher would pay on behalf of a low-income tenant in Stock Island, Florida for a two-bedroom apartment is between $1,925 and $2,353.

Sourced from federal housing data and AffordableHousingOnline.com research.