. Low Income Apartments For Rent in Okolona, Mississippi - Affordable Housing Online

Apply to Okolona Apartment Waiting Lists

Hawkins Apartments

520 Academy St
Okolona, Mississippi

Crestview Acres Ltd J & a Mgmt Inc

Carter Street
Okolona, Mississippi
Rent Assisted
S. 515 Rural

Okolona Terrace

7001 Okolona Ter
Okolona, Mississippi
Public Housing

Senca Apartments Houston Minniece

299 Hawkins St
Okolona, Mississippi
Rent Assisted
S. 515 Rural

Ne Hou Har St Win St Ca St Mil K Sher Ph

324 E Winter St
Okolona, Mississippi
Public Housing
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There are 0 low-income apartments in Okolona that offer reduced rents to eligible households.

Rental assistance programs support 281 low-income homes in Okolona where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $314 towards rent each month.

Affordable rent data for some communities last confirmed on April 23rd, 2021. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Okolona, Mississippi

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.

Housing Authority Programs
The Housing Authority of the City of Okolona Public Housing
Go to the Mississippi Public Housing and Low-Income Apartments Waiting Lists page for openings near Okolona.

Okolona, Mississippi Affordable Housing Data

Income Based Apartments in Okolona, Mississippi

Okolona features 281 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 Okolona, Mississippi

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Okolona.

Housing Choice Vouchers in Okolona, Mississippi

On average, Section 8 Housing Choice vouchers pay Okolona landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Okolona.

The maximum amount a voucher would pay on behalf of a low-income tenant in Okolona, Mississippi for a two-bedroom apartment is between $689 and $843.

2023 Okolona, Mississippi Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Okolona, Mississippi Fair Market Rent $578 $582 $766 $1,043 $1,182
Okolona, Mississippi Payment Standard Range $520 to $636 $524 to $640 $689 to $843 $939 to $1,147 $1,064 to $1,300

Sourced from federal housing data and AffordableHousingOnline.com research.

Okolona, MS Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 281
Total Housing Units with Rental Assistance 281
Percentage of Housing Units Occupied By Renters 43.28%
Average Renter Household Size 2.11
Average Household Size 2.57
Median Household Income $21,071 ±$5,553
Median Rent $534 ±$42
Percentage Of Renters Overburdened 60.73% ± 13.31pp
Total Population 2,658

Population and Household Demographics

Okolona is a city in Chickasaw County, Mississippi with a population of 2,658. There are 1,012 households in the city with an average household size of 2.57 persons. 43.28% of households in Okolona are renters.

Income and Rent Overburden in Okolona

The median gross income for households in Okolona is $21,071 a year, or $1,756 a month. The median rent for the city is $534 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Okolona, a household making less than $1,780 a month would be considered overburdened when renting an apartment at or above the median rent. 60.73% of households who rent are overburdened in Okolona.

Area Median Income In Okolona

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 Okolona, the AMI is calculated from all households within Chickasaw County.

In Okolona, HUD calculates the Area Median Income for a family of four as $53,600

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 Okolona

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 HUD Rental Assistance in Okolona

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Okolona AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,580 $19,720 $24,860 $30,000 $33,600 $36,100 $38,600 $41,100
50% AMI Income Limits
Renters earning up to 50% of the Okolona AMI may qualify for rental assistance programs that target Very Low Income households.
$21,800 $24,900 $28,000 $31,100 $33,600 $36,100 $38,600 $41,100
80% AMI Income Limits
Renters earning up to 80% of the Okolona AMI may qualify for rental assistance programs that target Low Income households.
$34,850 $39,800 $44,800 $49,750 $53,750 $57,750 $61,700 $65,700