Low Income Apartments and Affordable Housing For Rent in Russells Point, OH

Discover affordable housing in Russells Point where there are 3+ 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.

Point Village

400 Lincoln Blvd, Russells Point, Ohio 43348

Point Place Apartments

600 Lincoln Blvd, Russells Point, Ohio 43348

Indian Lake Villa.

601 Lincoln Blvd, Russells Point, Ohio 43348

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Russells Point, Ohio
$16.29/hour
$9.29 (+133%) more than Ohio minimum wage and $9.04 (+125%) more than the Federal minimum wage.
Learn More About Russells Point, Ohio Affordable Housing ↓

What HUD offices serve Russells Point, 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 Russells Point, Ohio.

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

How many renters live in Russells Point, Ohio?

The City of Russells Point has 1,240 people living in 642 households.

There are 593 renters living in 285 renter households in this City. Renters make up 47.82 percent of the population living in Russells Point.

What is the rental market like in Russells Point, Ohio?

There are an estimated 1,086 housing units in the Russells Point area. Of these, 305 units are rental homes, making up 28 percent of the housing market. For every renter household in Russells Point, Ohio, there are 1 rental units.

What is the vacancy rate for rentals in Russells Point?

The rental vacancy rate in Russells Point 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 Russells Point for each bedroom size?

Occupied Rental Units by Size in Russells Point
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
25 112 62 82 4
Occupied Rental Units by Size in Russells Point

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

Among renter households in this market, 46 percent have housing cost burden. Further, 31 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 Russells Point

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $639 to $1,168. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $639
One BR $655
Two BR $860
Three BR $1,100
Four BR $1,168
2024 Fair Market Rents in Russells Point, Ohio

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

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 8 32 percent
One BR 82 73 percent
Two BR 30 48 percent
Rental Units Below FMR in Russells Point, Ohio

How many affordable rental units are in Russells Point?

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

Federal Program Unit Count
Low Income Housing Tax Credit 108
Section 8 Project-Based Rental Assistance 108
Section 202 Supportive Housing for the Elderly 2
USDA Section 515 Rural Rental Housing 32
Tracked Units by Federal Program in Russells Point, Ohio

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

Income Based Apartments in Russells Point, Ohio

Russells Point features 141 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 Russells Point, Ohio

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

Housing Choice Vouchers in Russells Point, Ohio

On average, Section 8 Housing Choice vouchers pay Russells Point landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Russells Point.

The maximum amount a voucher would pay on behalf of a low-income tenant in Russells Point, Ohio for a two-bedroom apartment is between $774 and $946.

Sourced from federal housing data and AffordableHousingOnline.com research.