Affordable Housing In Payne County
Oklahoma

26 Low Income Apartment Communities In Payne County

Cushing Valley Apartments

1407 E 16th Pl
Cushing, OK
Income Based
2 BR
Accessible
Subsidized

Timber Ridge Gardens

306 S Timberridge Dr
Cushing, OK
$232-630
1-3 BR
HCV Welcome

Mockingbird Estates

3006 E 6th Ave
Stillwater, OK
Call For Rent
1-2 BR
62+
HCV Welcome

Cushing Village Apartments

530 Southgate Dr
Cushing, OK
Income Based
2 BR
Accessible
Subsidized

Magnolia Ridge

702 Jardot
Stillwater, OK
$415-555
2-3 BR
HCV Welcome

Eastbrook

506 S Timberridge Dr
Cushing, OK
Accessible
Subsidized

Whispering Hills Apartments

3102 S Main St
Stillwater, OK
Subsidized

Jasmine Court

500 S. Timber Ridge
Cushing, OK
$410-540
2-3 BR
Accessible
HCV Welcome

Cedar Lane Apartments

2309 E Anna St
Cushing, OK
62+
HCV Welcome

Legacy Park Apartments

498 E Virginia Ave
Stillwater, OK
HCV Welcome

Housing Authorities that serve Payne County

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

Other Housing Authorities located in Payne County

Housing Authority Programs
Housing Authority of the City of Yale Public Housing
Housing Authority of the Town of Cushing Public Housing
Stillwater Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Payne County, Oklahoma

There are 26 low income housing apartment communities offering 1,164 affordable apartments for rent in Payne County, Oklahoma. Payne County features 513 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 651 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Payne County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Payne County, OK Affordable Housing Snapshot

Total Affordable Apartment Properties 26
Total Low Income Apartments 1,164
Total Housing Units with Rental Assistance 513
Percentage of Housing Units Occupied By Renters 49.77%
Average Renter Household Size 2.29
Average Household Size 2.36
Median Household Income $37,667 ±$1,606
Median Rent $735 ±$31
Percentage Of Renters Overburdened 54.12% ± 3.53pp
Total Population 79,423

Population and Household Demographics

Payne County is a County in Oklahoma with a population of 79,423. There are 30,164 households in the county with an average household size of 2.36 persons. 49.77% of households in Payne County are renters.

Income and Rent Overburden in Payne County

The median gross income for households in Payne County is $37,667 a year, or $3,139 a month. The median rent for the county is $735 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Payne County, a household making less than $2,450 a month would be considered overburdened when renting an apartment at or above the median rent. 54.12% of households who rent are overburdened in Payne County.1

Area Median Income In Payne County

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.

In Payne County, HUD calculates the Area Median Income for a family of four as $73,800

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 Payne County

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 Payne County HUD Rental Assistance in Payne County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,100 $16,910 $21,330 $25,750 $30,170 $34,590 $38,650 $41,150
50% of Median $21,850 $24,950 $28,050 $31,150 $33,650 $36,150 $38,650 $41,150
80% of Median $34,900 $39,900 $44,900 $49,850 $53,850 $57,850 $61,850 $65,850
Low Income Housing Tax Credits in Payne County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1998 to 2010, 16 low income apartment communities containing 654 rental apartments have been constructed and made affordable to low income persons in Payne County by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Payne County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $21,850 $24,950 $28,050 $31,150 $33,650 $36,150 $38,650 $41,150
60% of Median $26,220 $29,940 $33,660 $37,380 $40,380 $43,380 $46,380 $49,380

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Payne County is $33,660 a year, or $2,805 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,805 by 30% to get a maximum rent of $842 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $546 $585 $701 $810 $904 $998
60% $656 $702 $842 $972 $1,085 $1,197
Fair Market Rents in Payne County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$640 $644 $784 $1,116 $1,223

Cities In Payne County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Yale 2 The HUD funded Public Housing Agencies that serve Yale are the Housing Authority of the City of Yale and Oklahoma Housing Finance Agency.
Stillwater 10 The HUD funded Public Housing Agency that serves Stillwater is the Stillwater Housing Authority.
Cushing 9 The HUD funded Public Housing Agencies that serve Cushing are the Housing Authority of the Town of Cushing and Oklahoma Housing Finance Agency.
Glencoe 1 The HUD funded Public Housing Agency that serves Glencoe is the Oklahoma Housing Finance Agency.
Perkins 4 The HUD funded Public Housing Agency that serves Perkins is the Oklahoma Housing Finance Agency.
Ripley 0 The HUD funded Public Housing Agency that serves Ripley is the Oklahoma Housing Finance Agency.