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There are 43 low-income apartments in Morro Bay that offer reduced rents to eligible households. Low-income rents in Morro Bay, California can range from $432 to $965 depending on the number of bedrooms.
Rental assistance programs support 101 low-income homes in Morro Bay where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $416 towards rent each month.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Morro Bay, California
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.
| Housing Authority | Programs |
|---|---|
| Housing Authority of San Luis Obispo | Section 8 Housing Choice Voucher (HCV); Public Housing; Section 8 Project-Based Voucher (PBV) |
Morro Bay, California Affordable Housing Data
Income Based Apartments in Morro Bay, California
Morro Bay features 101 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 Morro Bay, California
There are 43 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Morro Bay.
Housing Choice Vouchers in Morro Bay, California
On average, Section 8 Housing Choice vouchers pay Morro Bay landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Morro Bay.
The maximum amount a voucher would pay on behalf of a low-income tenant in Morro Bay, California for a two-bedroom apartment is between $2,047 and $2,501.
2024 Morro Bay, California 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 | |
|---|---|---|---|---|---|
| Morro Bay, California Fair Market Rent | $1,541 | $1,731 | $2,274 | $3,045 | $3,465 |
| Morro Bay, California Payment Standard Range | $1,387 to $1,695 | $1,558 to $1,904 | $2,047 to $2,501 | $2,741 to $3,350 | $3,119 to $3,812 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Morro Bay, CA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 6 |
|---|---|
| Total Low Income Apartments | 144 |
| Total Housing Units with Rental Assistance | 101 |
| Percentage of Housing Units Occupied By Renters | 52.95% |
| Average Renter Household Size | 2.02 |
| Average Household Size | 2.09 |
| Median Household Income | $51,338 ±$6,826 |
| Median Rent | $1,309 ±$45 |
| Percentage Of Renters Overburdened | 54.44% ± 8.56pp |
| Total Population | 10,471 |
Population and Household Demographics
Morro Bay is a city in San Luis Obispo County, California with a population of 10,471. There are 4,933 households in the city with an average household size of 2.09 persons. 52.95% of households in Morro Bay are renters.
Income and Rent Overburden in Morro Bay
The median gross income for households in Morro Bay is $51,338 a year, or $4,278 a month. The median rent for the city is $1,309 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Morro Bay, a household making less than $4,363 a month would be considered overburdened when renting an apartment at or above the median rent. 54.44% of households who rent are overburdened in Morro Bay.
Area Median Income In Morro Bay
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 Morro Bay, the AMI is calculated from all households within San Luis Obispo County.
In Morro Bay, HUD calculates the Area Median Income for a family of four as $113,100
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 Morro Bay
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 Morro Bay
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Morro Bay AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$24,350 | $27,800 | $31,300 | $34,750 | $37,550 | $40,350 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Morro Bay AMI may qualify for rental assistance programs that target Very Low Income households. |
$40,550 | $46,350 | $52,150 | $57,900 | $62,550 | $67,200 | $71,800 | $76,450 |
| 80% AMI Income Limits Renters earning up to 80% of the Morro Bay AMI may qualify for rental assistance programs that target Low Income households. |
$64,900 | $74,150 | $83,400 | $92,650 | $100,100 | $107,500 | $114,900 | $122,300 |
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