Affordable Housing In Oklahoma City
81 Low Income Apartment Communities In Oklahoma City
Housing Authorities that serve Oklahoma City
|Oklahoma City Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing; Rental Assistance Demonstration (RAD)|
|Oklahoma Housing Finance Agency||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Oklahoma City, Oklahoma
There are 81 low income housing apartment communities offering 8,492 affordable apartments for rent in Oklahoma City, Oklahoma.
Income Based Apartments in Oklahoma City, Oklahoma
Oklahoma City features 4,061 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 Oklahoma City, Oklahoma
There are 4,371 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oklahoma City.
Housing Choice Vouchers in Oklahoma City, Oklahoma
On average, Section 8 Housing Choice vouchers pay Oklahoma City landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Oklahoma City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Oklahoma City, Oklahoma for a two-bedroom apartment is between $815 and $997.
2020 Oklahoma City, 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||$684||$724||$906||$1,231||$1,506|
|Payment Standard Range||$616 to $752||$652 to $796||$815 to $997||$1,108 to $1,354||$1,355 to $1,657|
Sourced from federal housing data and AffordableHousingOnline.com research.
Oklahoma City, OK Affordable Housing Snapshot
|Total Affordable Apartment Properties||81|
|Total Low Income Apartments||8,492|
|Total Housing Units with Rental Assistance||4,061|
|Percentage of Housing Units Occupied By Renters||41.76%|
|Average Renter Household Size||2.41|
|Average Household Size||2.57|
|Median Household Income||$47,779 ±$760|
|Median Rent||$778 ±$7|
|Percentage Of Renters Overburdened||45.86% ± 1.35pp|
Population and Household Demographics
Oklahoma City is a city in Oklahoma County, Oklahoma with a population of 610,672. There are 232,254 households in the city with an average household size of 2.57 persons. 41.76% of households in Oklahoma City are renters.
Income and Rent Overburden in Oklahoma City
The median gross income for households in Oklahoma City is $47,779 a year, or $3,982 a month. The median rent for the city is $778 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Oklahoma City, a household making less than $2,593 a month would be considered overburdened when renting an apartment at or above the median rent. 45.86% of households who rent are overburdened in Oklahoma City.
Area Median Income In Oklahoma City
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 Oklahoma City, the AMI is calculated from all households within Oklahoma County.
In Oklahoma City, HUD calculates the Area Median Income for a family of four as $74,400
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 Oklahoma City
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 Oklahoma City
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$15,650||$17,850||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$26,050||$29,800||$33,500||$37,200||$40,200||$43,200||$46,150||$49,150|
|80% of Median||$41,650||$47,600||$53,550||$59,500||$64,300||$69,050||$73,800||$78,550|