Oakwood Terrace I — Income-Restricted Housing in Pensacola, FL 32505
700 West Truman Avenue, Brent, FL 32505
300 units · 1–3 BR
Leasing office: (850) 434-2721Directions
How to apply
- Call the leasing office at (850) 434-2721 to ask about applying, vacancies, and waiting lists.
- These records do not show openings — call to confirm vacancies and waiting lists.
At this building
- Opened
- 1971
- Bedrooms
- 20 1 bedroom · 152 2 bedrooms · 128 3 bedrooms
- HUD inspection
- HUD inspection score: 95/100 (Aug 2026) HUD inspects subsidized buildings on a 0–100 scale. This is a snapshot, not a pass/fail grade.
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Nearby income-restricted buildings
Alabaster Gardens
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0.6 mi away
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1.6 mi away
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- Affordability period may have ended — call to confirm
Sunrise Apartments
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Lakeview Villa
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Lakeview Place
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Rents and income limits in 32505
- Fair market rent, 2 bedrooms
- $1,330/mo
- Income needed to pay it at 30% of income
- $53,200/yr
- Renters in 32505 paying 30% or more of income on rent
- 61%
Income limits (2026)
Pensacola-Ferry Pass-Brent, FL area · median family income $92,800. Your household's yearly income before taxes must be at or below the limit.
| People | Extremely low 30% | Very low 50% | Low 80% |
|---|---|---|---|
| 1 | $19,600 | $32,650 | $52,250 |
| 2 | $22,400 | $37,300 | $59,700 |
| 3 | $27,320 | $41,950 | $67,150 |
| 4 | $33,000 | $46,600 | $74,600 |
| 5 | $38,680 | $50,350 | $80,600 |
| 6 | $44,360 | $54,100 | $86,550 |
| 7 | $50,040 | $57,850 | $92,550 |
| 8 | $55,720 | $61,550 | $98,500 |
Section 8 vouchers: up to the 50% limit, and most go to households under 30%. Public housing: up to 80%. Tax-credit apartments: usually up to 60% of median income, between the 50% and 80% columns.
Fair market rents (2027)
HUD's estimate of rent plus utilities for a modest home. Housing authorities set Section 8 voucher limits from it.
| Size | 32505 | Wider area |
|---|---|---|
| Studio | $1,010 | $1,154 |
| 1 bedroom | $1,150 | $1,359 |
| 2 bedrooms | $1,330 | $1,548 |
| 3 bedrooms | $1,760 | $2,034 |
| 4 bedrooms | $2,150 | $2,435 |
Wider area = Pensacola-Ferry Pass-Brent, FL. Two-bedroom fair market rents in 12 nearby ZIPs range from $1,330 (32501) to $2,120 (32508).
Census figures for 32505 (2020–2024 average): median rent $1,137. Median household income $44,783. 48% of homes are rented. 61% of renters pay 30% or more of their income on rent, and 33% pay half or more.
Census median rent is what renters here actually pay, including long-term leases. Fair market rent is HUD's estimate for a modest apartment available now.
Sources: HUD income limits FY2026; HUD Fair Market Rents FY2027 (Small Area FMR for ZIP figures); U.S. Census Bureau American Community Survey 5-year 2020–2024. Each program and building can set its own limits — confirm with the property.
Estimate your Section 8 rent share
Project-based Section 8 is on the buildings above. A Housing Choice Voucher is different: you apply with the housing authority, then find a landlord who takes it. Your share of rent is based on income — not always 30%. The calculator uses 32505's fair market rent.
Estimate your Section 8 rent share for 32505Frequently Asked Questions
How do I apply to Oakwood Terrace I?
Call (850) 434-2721 and ask about applying, vacancies, and waiting lists at Oakwood Terrace I in Pensacola, FL 32505. These records do not show openings.
Is Oakwood Terrace I Section 8 housing?
Oakwood Terrace I is listed with a HUD-assisted or project-based Section 8 contract. The subsidy stays with the apartment. A Housing Choice Voucher is different — you apply with the housing authority. Confirm the program when you call.
How many units are at Oakwood Terrace I?
Public records list 300 units at Oakwood Terrace I in Pensacola, FL 32505. That is a building size, not a count of open apartments.
Are there other affordable apartments near Oakwood Terrace I?
Yes — this page lists other income-restricted buildings in 32505 and nearby ZIP codes. Open a nearby card for the address and phone. Lists still do not show vacancies.
People Also Ask
How do I get into Oakwood Terrace I?
Call the number on this page and ask about the waiting list or how to apply at Oakwood Terrace I in Pensacola, FL 32505. Public housing is through the housing authority. Bring ID and income documents when they tell you to. This site cannot submit an application for you.
How do I qualify for affordable housing in Pensacola, FL 32505?
Most income-restricted buildings in Pensacola, FL 32505 serve households at or below 50% or 80% of area median income. HUD's 2026 very low-income (50%) limit for a 1-person household is $32,650, and $46,600 for a 4-person household. Public housing can go up to 80% ($52,250 for 1 person). Each building sets its own cap — call to confirm before you apply. Citizenship, household size, and local preferences can also apply.
What is the income limit for low-income housing in Pensacola, FL 32505?
For many programs in Pensacola, FL 32505, the 2026 HUD very low-income (50%) limit is $32,650 a year for 1 person and $46,600 for 4 people. The low-income (80%) limit is $52,250 for 1 person. Tax-credit buildings often use 60% of median income. Confirm with the property — they can be stricter.
How much rent do you pay for low-income housing in Pensacola, FL 32505?
In public housing and most Section 8 in Pensacola, FL 32505, tenants typically pay about 30% of adjusted income. HUD's 2027 fair market rent for a 2-bedroom near Pensacola, FL 32505 is $1,330 a month (rent plus utilities for a modest unit). Tax-credit apartments use set rents below market, not always 30% of income. Call the building for the actual rent; this site is not a vacancy or price list.
Does Oakwood Terrace I take Section 8 vouchers?
Oakwood Terrace I is listed with project-based Section 8 or HUD assistance — the subsidy is on the unit, so you usually apply at the building rather than bringing a tenant voucher. Ask when you call whether they also accept Housing Choice Vouchers.
Sources: HUD LIHTC database, 2024 (released Apr 2026); HUD Multifamily Assisted Properties, Oct 2026. Not affiliated with HUD or USDA. Details can be out of date — confirm with the property before applying. Report a correction. To add a different building, use the suggestion rubric.