Low Income Apartments For Rent in Oaktown, IN

Rental assistance programs support 0 low-income homes in Oaktown where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $-4 towards rent each month.

Affordable rent data for some communities last confirmed on October 30th, 2019. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Oaktown, Indiana

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
Knox County Housing Authority	Section 8 Housing Choice Voucher (HCV); Public Housing

Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Oaktown.

Oaktown, Indiana Affordable Housing Data

Income Based Apartments in Oaktown, Indiana

Oaktown 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 Oaktown, Indiana

There are 30 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oaktown.

Housing Choice Vouchers in Oaktown, Indiana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Oaktown, Indiana for a two-bedroom apartment is between $801 and $979.

2024 Oaktown, Indiana 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
Oaktown, Indiana Fair Market Rent	$619	$677	$890	$1,076	$1,185
Oaktown, Indiana Payment Standard Range	$557 to $681	$609 to $745	$801 to $979	$968 to $1,184	$1,067 to $1,304

Sourced from federal housing data and AffordableHousingOnline.com research.

Oaktown, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 2

Total Low Income Apartments 30

Total Housing Units with Rental Assistance 0

Percentage of Housing Units Occupied By Renters 35.32%

Average Renter Household Size 2.56

Average Household Size 2.53

Median Household Income $37,574 ±$17,668

Median Rent $467 ±$49

Percentage Of Renters Overburdened 37.89% ± 25.68pp

Total Population 708

Total Affordable Apartment Properties	2
Total Low Income Apartments	30
Total Housing Units with Rental Assistance	0
Percentage of Housing Units Occupied By Renters	35.32%
Average Renter Household Size	2.56
Average Household Size	2.53
Median Household Income	$37,574 ±$17,668
Median Rent	$467 ±$49
Percentage Of Renters Overburdened	37.89% ± 25.68pp
Total Population	708

Population and Household Demographics

Oaktown is a city in Knox County, Indiana with a population of 708. There are 269 households in the city with an average household size of 2.53 persons. 35.32% of households in Oaktown are renters.

Income and Rent Overburden in Oaktown

The median gross income for households in Oaktown is $37,574 a year, or $3,131 a month. The median rent for the city is $467 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Oaktown, a household making less than $1,557 a month would be considered overburdened when renting an apartment at or above the median rent. 37.89% of households who rent are overburdened in Oaktown.

Area Median Income In Oaktown

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 Oaktown, the AMI is calculated from all households within Knox County.

In Oaktown, HUD calculates the Area Median Income for a family of four as $77,700

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 Oaktown

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 Oaktown

	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 Oaktown AMI may qualify for rental assistance programs that target Extremely Low Income households.	$16,600	$19,720	$24,860	$30,000	$35,140	$40,280	$45,420	$50,560
50% AMI Income Limits Renters earning up to 50% of the Oaktown AMI may qualify for rental assistance programs that target Very Low Income households.	$27,650	$31,600	$35,550	$39,450	$42,650	$45,800	$48,950	$52,100
80% AMI Income Limits Renters earning up to 80% of the Oaktown AMI may qualify for rental assistance programs that target Low Income households.	$44,200	$50,500	$56,800	$63,100	$68,150	$73,200	$78,250	$83,300