What HUD offices serve Margate, New Jersey?
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 New Jersey Public Housing and Low-Income Apartments Waiting Lists page for openings near Margate.
How many renters live in Margate, New Jersey?
The City of Margate has 5,331 people living in 2,584 households.
There are 417 renters living in 265 renter households in this City. Renters make up 7.82 percent of the population living in Margate.
What is the rental market like in Margate, New Jersey?
There are an estimated 6,846 housing units in the Margate area. Of these, 302 units are rental homes, making up 4 percent of the housing market. For every renter household in Margate, New Jersey, there are 1 rental units.
What is the vacancy rate for rentals in Margate?
The rental vacancy rate in Margate is 11 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 Margate for each bedroom size?
Occupied Rental Units by Size in Margate
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 33 | 102 | 58 | 40 | 32 |
Occupied Rental Units by Size in Margate
A large number of apartments in Margate 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 Margate are overburdened by housing costs?
Among renter households in this market, 28 percent have housing cost burden. Further, 12 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 Margate
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,172 to $2,584. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,172 |
| One BR | $1,340 |
| Two BR | $1,670 |
| Three BR | $2,353 |
| Four BR | $2,584 |
2024 Fair Market Rents in Margate, New Jersey
How many units are rented at Fair Market Rent (FMR) in Margate?
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 | 33 | 100 percent |
| One BR | 93 | 91 percent |
| Two BR | 34 | 59 percent |
Rental Units Below FMR in Margate, New Jersey
How many affordable rental units are in Margate?
There are a variety of federal affordable housing programs serving households in Margate, New Jersey including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 74 |
Tracked Units by Federal Program in Margate, New Jersey
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Margate, New Jersey
Margate features 75 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 Margate, New Jersey
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Margate.
Housing Choice Vouchers in Margate, New Jersey
On average, Section 8 Housing Choice vouchers pay Margate landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Margate.
The maximum amount a voucher would pay on behalf of a low-income tenant in Margate, New Jersey for a two-bedroom apartment is between $1,503 and $1,837.
Sourced from federal housing data and AffordableHousingOnline.com research.
