How many renters live in Schroon Lake, New York?
The City of Schroon Lake has 926 people living in 404 households.
There are 298 renters living in 136 renter households in this City. Renters make up 32.18 percent of the population living in Schroon Lake.
What is the rental market like in Schroon Lake, New York?
There are an estimated 845 housing units in the Schroon Lake area. Of these, 145 units are rental homes, making up 17 percent of the housing market. For every renter household in Schroon Lake, New York, there are 1 rental units.
What is the vacancy rate for rentals in Schroon Lake?
The rental vacancy rate in Schroon Lake is 6 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 Schroon Lake for each bedroom size?
Occupied Rental Units by Size in Schroon Lake
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 5 | 58 | 41 | 20 | 12 |
Occupied Rental Units by Size in Schroon Lake
A large number of apartments in Schroon Lake 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 Schroon Lake are overburdened by housing costs?
Among renter households in this market, 36 percent have housing cost burden. Further, 29 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 Schroon Lake
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $824 to $1,446. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $824 |
| One BR | $828 |
| Two BR | $971 |
| Three BR | $1,309 |
| Four BR | $1,446 |
2024 Fair Market Rents in Schroon Lake, New York
How many units are rented at Fair Market Rent (FMR) in Schroon Lake?
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 | 5 | 100 percent |
| One BR | 46 | 79 percent |
| Two BR | 34 | 83 percent |
Rental Units Below FMR in Schroon Lake, New York
How many affordable rental units are in Schroon Lake?
There are a variety of federal affordable housing programs serving households in Schroon Lake, New York including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 64 |
| USDA Section 515 Rural Rental Housing | 64 |
Tracked Units by Federal Program in Schroon Lake, New York
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Schroon Lake, New York
Schroon Lake features 40 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 Schroon Lake, New York
There are 64 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Schroon Lake.
Housing Choice Vouchers in Schroon Lake, New York
On average, Section 8 Housing Choice vouchers pay Schroon Lake landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Schroon Lake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Schroon Lake, New York for a two-bedroom apartment is between $874 and $1,068.
Sourced from federal housing data and AffordableHousingOnline.com research.
