Affordable Housing In Verden
Grady County, Oklahoma

Housing Authorities that serve Verden

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

Guide To Affordable Housing in Verden, Oklahoma

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Verden, Oklahoma.

Income Based Apartments in Verden, Oklahoma

Verden 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 Verden, Oklahoma

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Verden.

Housing Choice Vouchers in Verden, Oklahoma

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Verden, Oklahoma for a two-bedroom apartment is between $628 and $768.

2020 Verden, 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 $526 $530 $698 $978 $1,009
Payment Standard Range $473 to $579 $477 to $583 $628 to $768 $880 to $1,076 $908 to $1,110

Sourced from federal housing data and research.

Verden, OK Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 28.79%
Average Renter Household Size 3.26
Average Household Size 2.94
Median Household Income $32,237 ±$5,663
Median Rent $594 ±$40
Percentage Of Renters Overburdened 12.28% ± 24.94pp
Total Population 582

Population and Household Demographics

Verden is a City in Grady County, Oklahoma with a population of 582. There are 198 households in the city with an average household size of 2.94 persons. 28.79% of households in Verden are renters.

Income and Rent Overburden in Verden

The median gross income for households in Verden is $32,237 a year, or $2,686 a month. The median rent for the city is $594 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Verden, a household making less than $1,980 a month would be considered overburdened when renting an apartment at or above the median rent. 12.28% of households who rent are overburdened in Verden.1

Area Median Income In Verden

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 Verden, the AMI is calculated from all households within Grady County.

In Verden, HUD calculates the Area Median Income for a family of four as $67,500

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 Verden

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 Verden

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,200 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,650 $27,000 $30,400 $33,750 $36,450 $39,150 $41,850 $44,550
80% of Median $37,800 $43,200 $48,600 $54,000 $58,350 $62,650 $67,000 $71,300