What HUD offices serve Nantucket, Massachusetts?
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.
Go to the Massachusetts Public Housing and Low-Income Apartments Waiting Lists page for openings near Nantucket.
How many renters live in Nantucket, Massachusetts?
The City of Nantucket has 10,479 people living in 3,261 households.
There are 2,863 renters living in 813 renter households in this City. Renters make up 27.32 percent of the population living in Nantucket.
What is the rental market like in Nantucket, Massachusetts?
There are an estimated 6,854 housing units in the Nantucket area. Of these, 832 units are rental homes, making up 12 percent of the housing market. For every renter household in Nantucket, Massachusetts, there are 1 rental units.
What is the vacancy rate for rentals in Nantucket?
The rental vacancy rate in Nantucket is 2 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Nantucket for each bedroom size?
Occupied Rental Units by Size in Nantucket
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 85 | 183 | 135 | 183 | 102 |
Occupied Rental Units by Size in Nantucket
A large number of apartments in Nantucket 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 Nantucket are overburdened by housing costs?
Among renter households in this market, 37 percent have housing cost burden. Further, 18 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 Nantucket
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,910 to $3,423. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,910 |
| One BR | $1,922 |
| Two BR | $2,526 |
| Three BR | $3,096 |
| Four BR | $3,423 |
2024 Fair Market Rents in Nantucket, Massachusetts
How many units are rented at Fair Market Rent (FMR) in Nantucket?
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 | 44 | 52 percent |
| One BR | 47 | 26 percent |
| Two BR | 32 | 24 percent |
Rental Units Below FMR in Nantucket, Massachusetts
How many affordable rental units are in Nantucket?
There are a variety of federal affordable housing programs serving households in Nantucket, Massachusetts including the following:
| Federal Program | Unit Count |
| Section 202 Supportive Housing for the Elderly | 8 |
| USDA Section 515 Rural Rental Housing | 37 |
Tracked Units by Federal Program in Nantucket, Massachusetts
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Nantucket, Massachusetts
Nantucket features 37 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 Nantucket, Massachusetts
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Nantucket.
Housing Choice Vouchers in Nantucket, Massachusetts
On average, Section 8 Housing Choice vouchers pay Nantucket landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Nantucket.
The maximum amount a voucher would pay on behalf of a low-income tenant in Nantucket, Massachusetts for a two-bedroom apartment is between $2,273 and $2,779.
Sourced from federal housing data and AffordableHousingOnline.com research.
