Affordable Housing In Okarche
Canadian County, Oklahoma

1 Low Income Apartment Communities In Okarche

Oak Apartments of Okarche

625-North 81 Highway
Okarche, Oklahoma
Call For Rent
1-2 BR
Subsidized
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Housing Authorities that serve Okarche

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

Guide To Affordable Housing in Okarche, Oklahoma

There are 1 low income housing apartment communities offering 12 affordable apartments for rent in Okarche, Oklahoma.

Income Based Apartments in Okarche, Oklahoma

Okarche features 0 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 Okarche, Oklahoma

There are 12 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Okarche.

Housing Choice Vouchers in Okarche, Oklahoma

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Okarche, Oklahoma for a two-bedroom apartment is between $826 and $1,010.

2021 Okarche, 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
Okarche, Oklahoma Fair Market Rent $705 $738 $918 $1,238 $1,488
Okarche, Oklahoma Payment Standard Range $635 to $776 $664 to $812 $826 to $1,010 $1,114 to $1,362 $1,339 to $1,637

Sourced from federal housing data and AffordableHousingOnline.com research.

Okarche, OK Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 12
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 23.45%
Average Renter Household Size 2.06
Average Household Size 2.47
Median Household Income $73,750 ±$11,954
Median Rent $821 ±$66
Percentage Of Renters Overburdened 6.36% ± 13.08pp
Total Population 1,255

Population and Household Demographics

Okarche is a city in Canadian County, Oklahoma with a population of 1,255. There are 469 households in the city with an average household size of 2.47 persons. 23.45% of households in Okarche are renters.

Income and Rent Overburden in Okarche

The median gross income for households in Okarche is $73,750 a year, or $6,146 a month. The median rent for the city is $821 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Okarche, a household making less than $2,737 a month would be considered overburdened when renting an apartment at or above the median rent. 6.36% of households who rent are overburdened in Okarche.

Area Median Income In Okarche

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 Okarche, the AMI is calculated from all households within Canadian County.

In Okarche, HUD calculates the Area Median Income for a family of four as $73,200

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 Okarche

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 Okarche

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Okarche AMI may qualify for rental assistance programs that target Extremely Low Income households.
$15,400 $17,600 $21,960 $26,500 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Okarche AMI may qualify for rental assistance programs that target Very Low Income households.
$25,650 $29,300 $32,950 $36,600 $39,550 $42,500 $45,400 $48,350
80% AMI Income Limits
Renters earning up to 80% of the Okarche AMI may qualify for rental assistance programs that target Low Income households.
$41,000 $46,850 $52,700 $58,550 $63,250 $67,950 $72,650 $77,300