Low Income Apartments and Affordable Housing For Rent in Canaan, NH

Discover affordable housing in Canaan where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Indian River Apartments

Indian River Rd, Canaan, New Hampshire 3741

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Canaan, New Hampshire
$24.91/hour
$17.66 (+244%) more than New Hampshire minimum wage and $17.66 (+244%) more than the Federal minimum wage.
Learn More About Canaan, New Hampshire Affordable Housing ↓

How many renters live in Canaan, New Hampshire?

The City of Canaan has 173 people living in 123 households.

There are 50 renters living in 48 renter households in this City. Renters make up 28.9 percent of the population living in Canaan.

What is the rental market like in Canaan, New Hampshire?

There are an estimated 230 housing units in the Canaan area. Of these, 81 units are rental homes, making up 35 percent of the housing market. For every renter household in Canaan, New Hampshire, there are 2 rental units.

What is the vacancy rate for rentals in Canaan?

The rental vacancy rate in Canaan is 41 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Canaan for each bedroom size?

Occupied Rental Units by Size in Canaan
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 47 0 1 0
Occupied Rental Units by Size in Canaan

A large number of apartments in Canaan 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 Canaan are overburdened by housing costs?

Among renter households in this market, 88 percent have housing cost burden. Further, 85 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 Canaan

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $891 to $1,940. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $891
One BR $1,001
Two BR $1,315
Three BR $1,708
Four BR $1,940
2024 Fair Market Rents in Canaan, New Hampshire

How many units are rented at Fair Market Rent (FMR) in Canaan?

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
One BR 47 100 percent
Rental Units Below FMR in Canaan, New Hampshire

How many affordable rental units are in Canaan?

There are a variety of federal affordable housing programs serving households in Canaan, New Hampshire including the following:

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 24
Tracked Units by Federal Program in Canaan, New Hampshire

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Canaan, New Hampshire

Canaan features 24 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 Canaan, New Hampshire

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Canaan.

Housing Choice Vouchers in Canaan, New Hampshire

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Canaan, New Hampshire for a two-bedroom apartment is between $1,184 and $1,447.

Sourced from federal housing data and AffordableHousingOnline.com research.