Low Income Apartments and Affordable Housing For Rent in Lake Katrine, NY

Discover affordable housing in Lake Katrine 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.

Independent Living Apartments

78 Lake Rd, Lake Katrine, New York 12449

calendar_today Opened: Jan 30
calendar_today Closed: Feb 14,

Reported On January 30th, 2024 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lake Katrine, New York
$32.23/hour
$17.23 (+115%) more than New York minimum wage and $24.98 (+345%) more than the Federal minimum wage.
Learn More About Lake Katrine, New York Affordable Housing ↓

What HUD offices serve Lake Katrine, New York?

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 Lake Katrine, New York.

Go to the New York Public Housing and Low-Income Apartments Waiting Lists page for openings near Lake Katrine.

How many renters live in Lake Katrine, New York?

The City of Lake Katrine has 2,357 people living in 920 households.

There are 904 renters living in 468 renter households in this City. Renters make up 38.35 percent of the population living in Lake Katrine.

What is the rental market like in Lake Katrine, New York?

There are an estimated 920 housing units in the Lake Katrine area. Of these, 468 units are rental homes, making up 51 percent of the housing market. For every renter household in Lake Katrine, New York, there are 1 rental units.

What is the vacancy rate for rentals in Lake Katrine?

The rental vacancy rate in Lake Katrine 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 Lake Katrine for each bedroom size?

Occupied Rental Units by Size in Lake Katrine
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
66 74 184 101 43
Occupied Rental Units by Size in Lake Katrine

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

Among renter households in this market, 28 percent have housing cost burden. Further, 17 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 Lake Katrine

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,284 to $2,459. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,284
One BR $1,308
Two BR $1,702
Three BR $2,198
Four BR $2,459
2024 Fair Market Rents in Lake Katrine, New York

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

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 58 88 percent
One BR 58 78 percent
Two BR 56 30 percent
Rental Units Below FMR in Lake Katrine, New York

How many affordable rental units are in Lake Katrine?

There are a variety of federal affordable housing programs serving households in Lake Katrine, New York including the following:

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 9
Tracked Units by Federal Program in Lake Katrine, New York

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

Income Based Apartments in Lake Katrine, New York

Lake Katrine features 8 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 Lake Katrine, New York

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

Housing Choice Vouchers in Lake Katrine, New York

On average, Section 8 Housing Choice vouchers pay Lake Katrine landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Lake Katrine.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Katrine, New York for a two-bedroom apartment is between $1,532 and $1,872.

Sourced from federal housing data and AffordableHousingOnline.com research.