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

Discover affordable housing in Mounds 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.

Sunset Village

701 S McNabb Dr, Mounds, Oklahoma 74047

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Mounds, Oklahoma
$21.36/hour
$14.11 (+195%) more than Oklahoma minimum wage and $14.11 (+195%) more than the Federal minimum wage.
Learn More About Mounds, Oklahoma Affordable Housing ↓

What HUD offices serve Mounds, 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 Mounds, Oklahoma.

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

How many renters live in Mounds, Oklahoma?

The City of Mounds has 1,099 people living in 405 households.

There are 383 renters living in 177 renter households in this City. Renters make up 34.85 percent of the population living in Mounds.

What is the rental market like in Mounds, Oklahoma?

There are an estimated 501 housing units in the Mounds area. Of these, 197 units are rental homes, making up 39 percent of the housing market. For every renter household in Mounds, Oklahoma, there are 1 rental units.

What is the vacancy rate for rentals in Mounds?

The rental vacancy rate in Mounds is 10 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 Mounds for each bedroom size?

Occupied Rental Units by Size in Mounds
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
9 40 52 76 0
Occupied Rental Units by Size in Mounds

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

Among renter households in this market, 31 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 Mounds

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $834 to $1,733. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $834
One BR $900
Two BR $1,128
Three BR $1,489
Four BR $1,733
2024 Fair Market Rents in Mounds, Oklahoma

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

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 6 67 percent
One BR 38 95 percent
Two BR 28 54 percent
Rental Units Below FMR in Mounds, Oklahoma

How many affordable rental units are in Mounds?

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

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 20
USDA Section 515 Rural Rental Housing 70
Tracked Units by Federal Program in Mounds, Oklahoma

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

Income Based Apartments in Mounds, Oklahoma

Mounds features 46 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 Mounds, Oklahoma

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

Housing Choice Vouchers in Mounds, Oklahoma

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Mounds, Oklahoma for a two-bedroom apartment is between $1,015 and $1,241.

Sourced from federal housing data and AffordableHousingOnline.com research.