What HUD offices serve Broken Bow, Oklahoma?
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 Oklahoma Public Housing and Low-Income Apartments Waiting Lists page for openings near Broken Bow.
How many renters live in Broken Bow, Oklahoma?
The City of Broken Bow has 4,222 people living in 1,390 households.
There are 1,996 renters living in 660 renter households in this City. Renters make up 47.28 percent of the population living in Broken Bow.
What is the rental market like in Broken Bow, Oklahoma?
There are an estimated 1,625 housing units in the Broken Bow area. Of these, 746 units are rental homes, making up 46 percent of the housing market. For every renter household in Broken Bow, Oklahoma, there are 1 rental units.
What is the vacancy rate for rentals in Broken Bow?
The rental vacancy rate in Broken Bow is 8 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 Broken Bow for each bedroom size?
Occupied Rental Units by Size in Broken Bow
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 55 | 104 | 210 | 252 | 39 |
Occupied Rental Units by Size in Broken Bow
A large number of apartments in Broken Bow 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 Broken Bow are overburdened by housing costs?
Among renter households in this market, 29 percent have housing cost burden. Further, 15 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 Broken Bow
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $614 to $1,401. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $614 |
| One BR | $714 |
| Two BR | $891 |
| Three BR | $1,184 |
| Four BR | $1,401 |
2024 Fair Market Rents in Broken Bow, Oklahoma
How many units are rented at Fair Market Rent (FMR) in Broken Bow?
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 | 49 | 89 percent |
| One BR | 99 | 95 percent |
| Two BR | 181 | 86 percent |
Rental Units Below FMR in Broken Bow, Oklahoma
How many affordable rental units are in Broken Bow?
There are a variety of federal affordable housing programs serving households in Broken Bow, Oklahoma including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 75 |
| Section 8 Project-Based Rental Assistance | 64 |
| USDA Section 515 Rural Rental Housing | 124 |
Tracked Units by Federal Program in Broken Bow, Oklahoma
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Broken Bow, Oklahoma
Broken Bow features 300 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 Broken Bow, Oklahoma
There are 130 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Broken Bow.
Housing Choice Vouchers in Broken Bow, Oklahoma
On average, Section 8 Housing Choice vouchers pay Broken Bow landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Broken Bow.
The maximum amount a voucher would pay on behalf of a low-income tenant in Broken Bow, Oklahoma for a two-bedroom apartment is between $802 and $980.
Sourced from federal housing data and AffordableHousingOnline.com research.
