Low Income Apartments and Affordable Housing For Rent in Lima, OH

Discover affordable housing in Lima where there are 29+ 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.

Lima Club West Apartments

1855A N Cole St, Lima, Ohio 45801

Luther Pines

805 S Mumaugh Rd, Lima, Ohio 45804

Town Square Apartments, Ltd

72 Town Sq, Lima, Ohio 45801

Argonne Retirement Inn

201 N Elizabeth St, Lima, Ohio 45801

Scattered Site : Acquisition

936 W Robb Ave, Lima, Ohio 45801

Waterford Townhomes

501 Hope St, Lima, Ohio 45804

Wayne Street Project

608 W Wayne St, Lima, Ohio 45801

Wayne

614 W Wayne St, Lima, Ohio 45801

Pierce Street

321 S Pierce St, Lima, Ohio 45801

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lima, Ohio
$17.94/hour
$10.94 (+156%) more than Ohio minimum wage and $10.69 (+147%) more than the Federal minimum wage.
Learn More About Lima, Ohio Affordable Housing ↓

What HUD offices serve Lima, Ohio?

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 Lima, Ohio.

Go to the Ohio Public Housing and Low-Income Apartments Waiting Lists page for openings near Lima.

How many renters live in Lima, Ohio?

The City of Lima has 35,555 people living in 13,778 households.

There are 18,854 renters living in 7,354 renter households in this City. Renters make up 53.03 percent of the population living in Lima.

What is the rental market like in Lima, Ohio?

There are an estimated 15,730 housing units in the Lima area. Of these, 7,727 units are rental homes, making up 49 percent of the housing market. For every renter household in Lima, Ohio, there are 1 rental units.

What is the vacancy rate for rentals in Lima?

The rental vacancy rate in Lima 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 Lima for each bedroom size?

Occupied Rental Units by Size in Lima
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
287 1,390 2,478 2,443 703
Occupied Rental Units by Size in Lima

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

Among renter households in this market, 41 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 Lima

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $716 to $1,328. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $716
One BR $737
Two BR $947
Three BR $1,177
Four BR $1,328
2024 Fair Market Rents in Lima, Ohio

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

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 202 70 percent
One BR 1,125 81 percent
Two BR 1,654 67 percent
Rental Units Below FMR in Lima, Ohio

How many affordable rental units are in Lima?

There are a variety of federal affordable housing programs serving households in Lima, Ohio including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 854
Public Housing 227
Section 8 Project-Based Rental Assistance 740
Section 811 Supportive Housing for Persons with Disabilities 31
Tracked Units by Federal Program in Lima, Ohio

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

Income Based Apartments in Lima, Ohio

Lima features 1,098 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 Lima, Ohio

There are 737 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lima.

Housing Choice Vouchers in Lima, Ohio

On average, Section 8 Housing Choice vouchers pay Lima landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Lima.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lima, Ohio for a two-bedroom apartment is between $852 and $1,042.

Sourced from federal housing data and AffordableHousingOnline.com research.