How many renters live in Montour Falls, New York?
The City of Montour Falls has 1,830 people living in 724 households.
There are 453 renters living in 262 renter households in this City. Renters make up 24.75 percent of the population living in Montour Falls.
What is the rental market like in Montour Falls, New York?
There are an estimated 806 housing units in the Montour Falls area. Of these, 284 units are rental homes, making up 35 percent of the housing market. For every renter household in Montour Falls, New York, there are 1 rental units.
What is the vacancy rate for rentals in Montour Falls?
The rental vacancy rate in Montour Falls is 8 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 Montour Falls for each bedroom size?
Occupied Rental Units by Size in Montour Falls
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 4 | 155 | 26 | 68 | 4 |
Occupied Rental Units by Size in Montour Falls
A large number of apartments in Montour Falls 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 Montour Falls are overburdened by housing costs?
Among renter households in this market, 57 percent have housing cost burden. Further, 31 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 Montour Falls
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $637 to $1,314. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $637 |
| One BR | $740 |
| Two BR | $940 |
| Three BR | $1,271 |
| Four BR | $1,314 |
2024 Fair Market Rents in Montour Falls, New York
How many units are rented at Fair Market Rent (FMR) in Montour Falls?
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 | 0 | 100 percent |
| One BR | 138 | 89 percent |
| Two BR | 16 | 62 percent |
Rental Units Below FMR in Montour Falls, New York
How many affordable rental units are in Montour Falls?
There are a variety of federal affordable housing programs serving households in Montour Falls, New York including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 48 |
| Section 8 Project-Based Rental Assistance | 32 |
| USDA Section 515 Rural Rental Housing | 48 |
Tracked Units by Federal Program in Montour Falls, New York
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Montour Falls, New York
Montour Falls features 80 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 Montour Falls, New York
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Montour Falls.
Housing Choice Vouchers in Montour Falls, New York
On average, Section 8 Housing Choice vouchers pay Montour Falls landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Montour Falls.
The maximum amount a voucher would pay on behalf of a low-income tenant in Montour Falls, New York for a two-bedroom apartment is between $846 and $1,034.
Sourced from federal housing data and AffordableHousingOnline.com research.
