How many renters live in Oak Grove, Missouri?
The City of Oak Grove has people living in households.
There are renters living in renter households in this City. Renters make up 29.55 percent of the population living in Oak Grove.
What is the rental market like in Oak Grove, Missouri?
There are an estimated housing units in the Oak Grove area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Oak Grove, Missouri, there are 1.05 rental units.
What is the vacancy rate for rentals in Oak Grove?
The rental vacancy rate in Oak Grove is 5 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 Oak Grove for each bedroom size?
Occupied Rental Units by Size in Oak Grove
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 6 | 122 | 522 | 298 | 57 |
Occupied Rental Units by Size in Oak Grove
A large number of apartments in Oak Grove 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 Oak Grove
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $985 to $1,931. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $985 |
| One BR | $1,098 |
| Two BR | $1,258 |
| Three BR | $1,645 |
| Four BR | $1,931 |
2024 Fair Market Rents in Oak Grove, Missouri
How many units are rented at Fair Market Rent (FMR) in Oak Grove?
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 | 6 | 100 percent |
| One BR | 122 | 100 percent |
| Two BR | 412 | 79 percent |
Rental Units Below FMR in Oak Grove, Missouri
How many affordable rental units are in Oak Grove?
There are a variety of federal affordable housing programs serving households in Oak Grove, Missouri including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Oak Grove, Missouri
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Oak Grove, Missouri
Oak Grove features 126 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 Oak Grove, Missouri
There are 69 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oak Grove.
Housing Choice Vouchers in Oak Grove, Missouri
On average, Section 8 Housing Choice vouchers pay Oak Grove landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Oak Grove.
The maximum amount a voucher would pay on behalf of a low-income tenant in Oak Grove, Missouri for a two-bedroom apartment is between $1,132 and $1,384.
Sourced from federal housing data and AffordableHousingOnline.com research.