Affordable Housing In Minco
Grady County, Oklahoma

1 Low Income Apartment Communities In Minco


400 SW 6th St
Minco, Oklahoma
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Housing Authorities that serve Minco

Housing Authority Programs
Oklahoma Housing Finance Agency Section 8 Housing Choice Voucher (HCV)

Other Housing Authorities located in Minco

Housing Authority Programs
Housing Authority of the City of Minco Public Housing

Guide To Affordable Housing in Minco, Oklahoma

There are 1 low income housing apartment communities offering 36 affordable apartments for rent in Minco, Oklahoma.

Income Based Apartments in Minco, Oklahoma

Minco features 36 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 Minco, Oklahoma

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

Housing Choice Vouchers in Minco, Oklahoma

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Minco, Oklahoma for a two-bedroom apartment is between $628 and $768.

2020 Minco, Oklahoma Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $526 $530 $698 $978 $1,009
Payment Standard Range $473 to $579 $477 to $583 $628 to $768 $880 to $1,076 $908 to $1,110

Sourced from federal housing data and research.

Minco, OK Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 36
Total Housing Units with Rental Assistance 36
Percentage of Housing Units Occupied By Renters 30.24%
Average Renter Household Size 2.61
Average Household Size 2.34
Median Household Income $41,905 ±$3,933
Median Rent $638 ±$40
Percentage Of Renters Overburdened 15.34% ± 8.76pp
Total Population 1,364

Population and Household Demographics

Minco is a City in Grady County, Oklahoma with a population of 1,364. There are 582 households in the city with an average household size of 2.34 persons. 30.24% of households in Minco are renters.

Income and Rent Overburden in Minco

The median gross income for households in Minco is $41,905 a year, or $3,492 a month. The median rent for the city is $638 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Minco, a household making less than $2,127 a month would be considered overburdened when renting an apartment at or above the median rent. 15.34% of households who rent are overburdened in Minco.1

Area Median Income In Minco

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Minco, the AMI is calculated from all households within Grady County.

In Minco, HUD calculates the Area Median Income for a family of four as $67,500

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Minco

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Minco

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,200 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,650 $27,000 $30,400 $33,750 $36,450 $39,150 $41,850 $44,550
80% of Median $37,800 $43,200 $48,600 $54,000 $58,350 $62,650 $67,000 $71,300