Low Income Apartments For Rent in Elk City, OK

There are 35 low-income apartments in Elk City that offer reduced rents to eligible households. Low-income rents in Elk City, Oklahoma can range from $425 to $550 depending on the number of bedrooms.

Rental assistance programs support 230 low-income homes in Elk City 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 June 24th, 2024. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Elk City, Oklahoma

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
Elk City Housing Authority	Public Housing
Oklahoma Housing Finance Agency	Section 8 Housing Choice Voucher (HCV)

Go to the Oklahoma Public Housing and Low-Income Apartments Waiting Lists page for openings near Elk City.

Elk City, Oklahoma Affordable Housing Data

Income Based Apartments in Elk City, Oklahoma

Elk City features 230 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 Elk City, Oklahoma

There are 35 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Elk City.

Housing Choice Vouchers in Elk City, Oklahoma

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Elk City, Oklahoma for a two-bedroom apartment is between $866 and $1,058.

2024 Elk City, 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
Elk City, Oklahoma Fair Market Rent	$731	$732	$962	$1,163	$1,400
Elk City, Oklahoma Payment Standard Range	$658 to $804	$659 to $805	$866 to $1,058	$1,047 to $1,279	$1,260 to $1,540

Sourced from federal housing data and AffordableHousingOnline.com research.

Elk City, OK Affordable Housing Snapshot

Total Affordable Apartment Properties 5

Total Low Income Apartments 266

Total Housing Units with Rental Assistance 230

Percentage of Housing Units Occupied By Renters 37.54%

Average Renter Household Size 2.54

Average Household Size 2.90

Median Household Income $51,406 ±$9,553

Median Rent $723 ±$70

Percentage Of Renters Overburdened 30.25% ± 11.49pp

Total Population 12,424

Total Affordable Apartment Properties	5
Total Low Income Apartments	266
Total Housing Units with Rental Assistance	230
Percentage of Housing Units Occupied By Renters	37.54%
Average Renter Household Size	2.54
Average Household Size	2.90
Median Household Income	$51,406 ±$9,553
Median Rent	$723 ±$70
Percentage Of Renters Overburdened	30.25% ± 11.49pp
Total Population	12,424

Population and Household Demographics

Elk City is a city in Beckham County, Oklahoma with a population of 12,424. There are 4,209 households in the city with an average household size of 2.90 persons. 37.54% of households in Elk City are renters.

Income and Rent Overburden in Elk City

The median gross income for households in Elk City is $51,406 a year, or $4,284 a month. The median rent for the city is $723 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Elk City, a household making less than $2,410 a month would be considered overburdened when renting an apartment at or above the median rent. 30.25% of households who rent are overburdened in Elk City.

Area Median Income In Elk City

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 Elk City, the AMI is calculated from all households within Beckham County.

In Elk City, HUD calculates the Area Median Income for a family of four as $76,800

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 Elk City

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 Elk City

	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 Elk City AMI may qualify for rental assistance programs that target Extremely Low Income households.	$14,900	$19,720	$24,860	$30,000	$35,140	$40,280	$43,900	$46,750
50% AMI Income Limits Renters earning up to 50% of the Elk City AMI may qualify for rental assistance programs that target Very Low Income households.	$24,800	$28,350	$31,900	$35,400	$38,250	$41,100	$43,900	$46,750
80% AMI Income Limits Renters earning up to 80% of the Elk City AMI may qualify for rental assistance programs that target Low Income households.	$39,700	$45,350	$51,000	$56,650	$61,200	$65,750	$70,250	$74,800