How many renters live in Oak Hill, West Virginia?
The City of Oak Hill has 8,157 people living in 3,499 households.
There are 1,857 renters living in 892 renter households in this City. Renters make up 22.77 percent of the population living in Oak Hill.
What is the rental market like in Oak Hill, West Virginia?
There are an estimated 4,083 housing units in the Oak Hill area. Of these, 958 units are rental homes, making up 23 percent of the housing market. For every renter household in Oak Hill, West Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Oak Hill?
The rental vacancy rate in Oak Hill is 7 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Oak Hill for each bedroom size?
Occupied Rental Units by Size in Oak Hill
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 61 | 182 | 449 | 200 | 0 |
Occupied Rental Units by Size in Oak Hill
A large number of apartments in Oak Hill 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 Oak Hill are overburdened by housing costs?
Among renter households in this market, 36 percent have housing cost burden. Further, 12 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 Oak Hill
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $592 to $1,481. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $592 |
| One BR | $683 |
| Two BR | $873 |
| Three BR | $1,169 |
| Four BR | $1,481 |
2024 Fair Market Rents in Oak Hill, West Virginia
How many units are rented at Fair Market Rent (FMR) in Oak Hill?
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 |
| Studio | 61 | 100 percent |
| One BR | 111 | 61 percent |
| Two BR | 230 | 51 percent |
Rental Units Below FMR in Oak Hill, West Virginia
How many affordable rental units are in Oak Hill?
There are a variety of federal affordable housing programs serving households in Oak Hill, West Virginia including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 96 |
| Section 8 Project-Based Rental Assistance | 152 |
| Section 811 Supportive Housing for Persons with Disabilities | 18 |
| USDA Section 515 Rural Rental Housing | 36 |
Tracked Units by Federal Program in Oak Hill, West Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Oak Hill, West Virginia
Oak Hill features 218 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 Oak Hill, West Virginia
There are 80 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oak Hill.
Housing Choice Vouchers in Oak Hill, West Virginia
On average, Section 8 Housing Choice vouchers pay Oak Hill landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Oak Hill.
The maximum amount a voucher would pay on behalf of a low-income tenant in Oak Hill, West Virginia for a two-bedroom apartment is between $786 and $960.
Sourced from federal housing data and AffordableHousingOnline.com research.
