Low Income Apartments and Affordable Housing For Rent in North Cape May, NJ

Discover affordable housing in North Cape May where there are 2+ 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.

Haven House at St. John of God

676 Town Bank Rd, North Cape May, New Jersey 08204

St John of God Senior Housing

680 Town Bank Rd, North Cape May, New Jersey 08204

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In North Cape May, New Jersey
$29.72/hour
$15.99 (+116%) more than New Jersey minimum wage and $22.47 (+310%) more than the Federal minimum wage.
Learn More About North Cape May, New Jersey Affordable Housing ↓

What HUD offices serve North Cape May, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for North Cape May, New Jersey.

Go to the New Jersey Public Housing and Low-Income Apartments Waiting Lists page for openings near North Cape May.

How many renters live in North Cape May, New Jersey?

The City of North Cape May has 3,832 people living in 1,908 households.

There are 776 renters living in 426 renter households in this City. Renters make up 20.25 percent of the population living in North Cape May.

What is the rental market like in North Cape May, New Jersey?

There are an estimated 2,947 housing units in the North Cape May area. Of these, 472 units are rental homes, making up 16 percent of the housing market. For every renter household in North Cape May, New Jersey, there are 1 rental units.

What is the vacancy rate for rentals in North Cape May?

The rental vacancy rate in North Cape May is 10 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 North Cape May for each bedroom size?

Occupied Rental Units by Size in North Cape May
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 76 289 49 12
Occupied Rental Units by Size in North Cape May

A large number of apartments in North Cape May 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 North Cape May are overburdened by housing costs?

Among renter households in this market, 44 percent have housing cost burden. Further, 20 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 North Cape May

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,107 to $2,090. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,107
One BR $1,194
Two BR $1,569
Three BR $1,973
Four BR $2,090
2024 Fair Market Rents in North Cape May, New Jersey

How many units are rented at Fair Market Rent (FMR) in North Cape May?

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 30 39 percent
Two BR 181 63 percent
Rental Units Below FMR in North Cape May, New Jersey

How many affordable rental units are in North Cape May?

Income Based Apartments in North Cape May, New Jersey

North Cape May features 152 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 North Cape May, New Jersey

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

Housing Choice Vouchers in North Cape May, New Jersey

On average, Section 8 Housing Choice vouchers pay North Cape May landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in North Cape May.

The maximum amount a voucher would pay on behalf of a low-income tenant in North Cape May, New Jersey for a two-bedroom apartment is between $1,412 and $1,726.

Sourced from federal housing data and AffordableHousingOnline.com research.