Affordable Housing In Stillwater
Payne County, Oklahoma

10 Low Income Apartment Communities In Stillwater

Mockingbird Estates

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

Magnolia Ridge

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

Whispering Hills Apartments

3102 S Main St
Stillwater, OK
Subsidized

Legacy Park Apartments

498 E Virginia Ave
Stillwater, OK
HCV Welcome

Fair Manor Apartments

1603 N Hartford St
Stillwater, OK
Accessible
Disabled Supportive Housing
Subsidized

Senior Residences of Stillwater

1501 S Main St
Stillwater, OK
HCV Welcome

Boomer Creek Apartments II

320 E McElroy Rd
Stillwater, OK
HCV Welcome

Chapel Ridge

1807 N Hartford St
Stillwater, OK
HCV Welcome

Brookstone Park

Part of Section 12 T19n R2e
Stillwater, OK
HCV Welcome

Roxie Weber Plaza

807 S Lowry St
Stillwater, OK
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There are 10 low income housing apartment complexes which contain 640 affordable apartments for rent in Stillwater. Many of these rental apartments are income based housing with 243 apartments that set rent based on your income. In Stillwater, HUD housing programs support 85 rental assistance apartments through programs like Project-based Section 8. There are 397 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Stillwater

Housing Authority Programs
Stillwater Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Stillwater, Oklahoma

Stillwater, OK Affordable Housing Snapshot

Total Affordable Apartment Properties 10
Total Low Income Apartments 640
Total Rent Assisted Apartments 243
Percentage of Housing Units Occupied By Renters 62.65%
Average Renter Household Size 2.14
Total Population 47,523
Housing Units 18,080
Average Household Size 2.22
Median Household Income $30,799 ±$2,570
Median Rent $743 ±$37
Percentage Of Renters Overburdened 59.42% ± 4.32pp

Population and Household Demographics

Stillwater is a City in Payne County, Oklahoma with a population of 47,523. There are 18,080 households in the city with an average household size of 2.22 persons. 62.65% of households in Stillwater are renters.

Income and Rent Overburden in Stillwater

The median gross income for households in Stillwater is $30,799 a year, or $2,567 a month. The median rent for the city is $743 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Stillwater, a household making less than $2,477 a month would be considered overburdened when renting an apartment at or above the median rent. 59.42% of households who rent are overburdened in Stillwater.1

Area Median Income In Stillwater

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 Stillwater, the AMI is calculated from all households within Payne County.

In Stillwater, 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 Stillwater

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 Stillwater HUD Rental Assistance in Stillwater

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 Stillwater

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

From 2001 to 2009, 6 low income apartment communities containing 363 rental apartments have been constructed and made affordable to low income persons in Stillwater 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 Stillwater

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 Stillwater 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 Stillwater

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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$638 $642 $794 $1,148 $1,260