What HUD offices serve New London, Missouri?
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 Missouri Public Housing and Low-Income Apartments Waiting Lists page for openings near New London.
How many renters live in New London, Missouri?
The City of New London has 1,101 people living in 406 households.
There are 264 renters living in 107 renter households in this City. Renters make up 23.98 percent of the population living in New London.
What is the rental market like in New London, Missouri?
There are an estimated 475 housing units in the New London area. Of these, 107 units are rental homes, making up 23 percent of the housing market. For every renter household in New London, Missouri, there are 1 rental units.
What is the vacancy rate for rentals in New London?
The rental vacancy rate in New London is 0 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 New London for each bedroom size?
Occupied Rental Units by Size in New London
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 45 | 62 | 0 |
Occupied Rental Units by Size in New London
A large number of apartments in New London 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 New London are overburdened by housing costs?
Among renter households in this market, 35 percent have housing cost burden. Further, 2 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 New London
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $640 to $1,441. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $640 |
| One BR | $646 |
| Two BR | $849 |
| Three BR | $1,106 |
| Four BR | $1,441 |
2024 Fair Market Rents in New London, Missouri
How many units are rented at Fair Market Rent (FMR) in New London?
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 |
| Two BR | 13 | 29 percent |
Rental Units Below FMR in New London, Missouri
How many affordable rental units are in New London?
There are a variety of federal affordable housing programs serving households in New London, Missouri including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 16 |
| USDA Section 515 Rural Rental Housing | 32 |
Tracked Units by Federal Program in New London, Missouri
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in New London, Missouri
New London features 32 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 New London, Missouri
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New London.
Housing Choice Vouchers in New London, Missouri
On average, Section 8 Housing Choice vouchers pay New London landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in New London.
The maximum amount a voucher would pay on behalf of a low-income tenant in New London, Missouri for a two-bedroom apartment is between $764 and $934.
Sourced from federal housing data and AffordableHousingOnline.com research.
