What HUD offices serve Olton, Texas?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Texas Public Housing and Low-Income Apartments Waiting Lists page for openings near Olton.
How many renters live in Olton, Texas?
The City of Olton has 1,749 people living in 543 households.
There are 367 renters living in 151 renter households in this City. Renters make up 20.98 percent of the population living in Olton.
What is the rental market like in Olton, Texas?
There are an estimated 758 housing units in the Olton area. Of these, 160 units are rental homes, making up 21 percent of the housing market. For every renter household in Olton, Texas, there are 1 rental units.
What is the vacancy rate for rentals in Olton?
The rental vacancy rate in Olton is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Olton for each bedroom size?
Occupied Rental Units by Size in Olton
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 79 | 64 | 8 |
Occupied Rental Units by Size in Olton
A large number of apartments in Olton have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Olton are overburdened by housing costs?
Among renter households in this market, 34 percent have housing cost burden. Further, 5 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Olton
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $684 to $1,484. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $684 |
| One BR | $689 |
| Two BR | $905 |
| Three BR | $1,231 |
| Four BR | $1,484 |
2024 Fair Market Rents in Olton, Texas
How many units are rented at Fair Market Rent (FMR) in Olton?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Two BR | 54 | 68 percent |
Rental Units Below FMR in Olton, Texas
How many affordable rental units are in Olton?
There are a variety of federal affordable housing programs serving households in Olton, Texas including the following:
| Federal Program | Unit Count |
| Public Housing | 18 |
Tracked Units by Federal Program in Olton, Texas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Olton, Texas
Olton 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 Olton, Texas
There are 12 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Olton.
Housing Choice Vouchers in Olton, Texas
On average, Section 8 Housing Choice vouchers pay Olton landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Olton.
The maximum amount a voucher would pay on behalf of a low-income tenant in Olton, Texas for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
