Low Income Apartments and Affordable Housing For Rent in Minco, OK

Discover affordable housing in Minco where there are 1+ 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.

Rental

400 SW 6th St, Minco, Oklahoma 73059

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Minco, Oklahoma
$16.88/hour
$9.63 (+133%) more than Oklahoma minimum wage and $9.63 (+133%) more than the Federal minimum wage.
Learn More About Minco, Oklahoma Affordable Housing ↓

What HUD offices serve Minco, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Minco, Oklahoma.

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

How many renters live in Minco, Oklahoma?

The City of Minco has 1,502 people living in 638 households.

There are 478 renters living in 264 renter households in this City. Renters make up 31.82 percent of the population living in Minco.

What is the rental market like in Minco, Oklahoma?

There are an estimated 725 housing units in the Minco area. Of these, 270 units are rental homes, making up 37 percent of the housing market. For every renter household in Minco, Oklahoma, there are 1 rental units.

What is the vacancy rate for rentals in Minco?

The rental vacancy rate in Minco is 2 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 Minco for each bedroom size?

Occupied Rental Units by Size in Minco
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
9 132 57 58 8
Occupied Rental Units by Size in Minco

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

Among renter households in this market, 5 percent have housing cost burden. Further, 2 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 Minco

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $604 to $1,469. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $604
One BR $678
Two BR $891
Three BR $1,172
Four BR $1,469
2024 Fair Market Rents in Minco, Oklahoma

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

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 4 44 percent
One BR 126 95 percent
Two BR 32 56 percent
Rental Units Below FMR in Minco, Oklahoma

How many affordable rental units are in Minco?

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

Federal Program Unit Count
Public Housing 36
Tracked Units by Federal Program in Minco, Oklahoma

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

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 $802 and $980.

Sourced from federal housing data and AffordableHousingOnline.com research.