Affordable Housing In Stratford
Garvin County, Oklahoma

2 Low Income Apartment Communities In Stratford

Town Oak XIV Apartments

105 W Murray St
Stratford, OK
Call For Rent
1-2 BR
Accessible
HCV Welcome
Subsidized

Stratford Ha

100 Thompson Dr
Stratford, OK
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Housing Authorities that serve Stratford

Housing Authority Programs
Housing Authority of the Town of Stratford Public Housing
Oklahoma Housing Finance Agency Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Stratford, Oklahoma

There are 2 low income housing apartment communities offering 84 affordable apartments for rent in Stratford, Oklahoma. Stratford features 84 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Stratford.

Sourced from federal housing data and AffordableHousingOnline.com research.

Stratford, OK Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 84
Total Housing Units with Rental Assistance 84
Percentage of Housing Units Occupied By Renters 48.11%
Average Renter Household Size 2.63
Average Household Size 2.58
Median Household Income $27,297 ±$2,451
Median Rent $488 ±$54
Percentage Of Renters Overburdened 37.86% ± 10.16pp
Total Population 1,503

Population and Household Demographics

Stratford is a City in Garvin County, Oklahoma with a population of 1,503. There are 582 households in the city with an average household size of 2.58 persons. 48.11% of households in Stratford are renters.

Income and Rent Overburden in Stratford

The median gross income for households in Stratford is $27,297 a year, or $2,275 a month. The median rent for the city is $488 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Stratford, a household making less than $1,627 a month would be considered overburdened when renting an apartment at or above the median rent. 37.86% of households who rent are overburdened in Stratford.1

Area Median Income In Stratford

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 Stratford, the AMI is calculated from all households within Garvin County.

In Stratford, HUD calculates the Area Median Income for a family of four as $55,300

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 Stratford

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 Stratford HUD Rental Assistance in Stratford

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $30,170 $33,100 $35,350 $37,650
50% of Median $19,950 $22,800 $25,650 $28,500 $30,800 $33,100 $35,350 $37,650
80% of Median $31,950 $36,500 $41,050 $45,600 $49,250 $52,900 $56,550 $60,200

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 Stratford

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $19,950 $22,800 $25,650 $28,500 $30,800 $33,100 $35,350 $37,650
60% of Median $23,940 $27,360 $30,780 $34,200 $36,960 $39,720 $42,420 $45,180

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 Stratford is $30,780 a year, or $2,565 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,565 by 30% to get a maximum rent of $770 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% $499 $534 $641 $741 $828 $913
60% $599 $641 $770 $890 $993 $1,095
Fair Market Rents in Stratford

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
$541 $544 $686 $963 $1,154