What HUD offices serve Ocean Isle Beach, North Carolina?
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 North Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Ocean Isle Beach.
How many renters live in Ocean Isle Beach, North Carolina?
The City of Ocean Isle Beach has 809 people living in 432 households.
There are 22 renters living in 14 renter households in this City. Renters make up 2.72 percent of the population living in Ocean Isle Beach.
What is the rental market like in Ocean Isle Beach, North Carolina?
There are an estimated 3,295 housing units in the Ocean Isle Beach area. Of these, 598 units are rental homes, making up 18 percent of the housing market. For every renter household in Ocean Isle Beach, North Carolina, there are 43 rental units.
What is the vacancy rate for rentals in Ocean Isle Beach?
The rental vacancy rate in Ocean Isle Beach is 94 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 Ocean Isle Beach for each bedroom size?
Occupied Rental Units by Size in Ocean Isle Beach
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 6 | 0 | 6 |
Occupied Rental Units by Size in Ocean Isle Beach
A large number of apartments in Ocean Isle Beach 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 Ocean Isle Beach are overburdened by housing costs?
Among renter households in this market, 21 percent have housing cost burden. Further, 21 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 Ocean Isle Beach
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $951 to $1,921. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $951 |
| One BR | $1,008 |
| Two BR | $1,132 |
| Three BR | $1,595 |
| Four BR | $1,921 |
2024 Fair Market Rents in Ocean Isle Beach, North Carolina
How many units are rented at Fair Market Rent (FMR) in Ocean Isle Beach?
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 |
| Two BR | 0 | 100 percent |
Rental Units Below FMR in Ocean Isle Beach, North Carolina
How many affordable rental units are in Ocean Isle Beach?
There are a variety of federal affordable housing programs serving households in Ocean Isle Beach, North Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 120 |
Tracked Units by Federal Program in Ocean Isle Beach, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Ocean Isle Beach, North Carolina
Ocean Isle Beach 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 Ocean Isle Beach, North Carolina
There are 72 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ocean Isle Beach.
Housing Choice Vouchers in Ocean Isle Beach, North Carolina
On average, Section 8 Housing Choice vouchers pay Ocean Isle Beach landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Ocean Isle Beach.
The maximum amount a voucher would pay on behalf of a low-income tenant in Ocean Isle Beach, North Carolina for a two-bedroom apartment is between $1,019 and $1,245.
Sourced from federal housing data and AffordableHousingOnline.com research.
