How many renters live in Sharon Springs, New York?
The City of Sharon Springs has 632 people living in 213 households.
There are 335 renters living in 109 renter households in this City. Renters make up 53.01 percent of the population living in Sharon Springs.
What is the rental market like in Sharon Springs, New York?
There are an estimated 267 housing units in the Sharon Springs area. Of these, 109 units are rental homes, making up 41 percent of the housing market. For every renter household in Sharon Springs, New York, there are 1 rental units.
What is the vacancy rate for rentals in Sharon Springs?
The rental vacancy rate in Sharon Springs 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 Sharon Springs for each bedroom size?
Occupied Rental Units by Size in Sharon Springs
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 23 | 19 | 39 | 17 |
Occupied Rental Units by Size in Sharon Springs
A large number of apartments in Sharon Springs 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 Sharon Springs are overburdened by housing costs?
Among renter households in this market, 18 percent have housing cost burden. Further, 8 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 Sharon Springs
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,011 to $1,830. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,011 |
| One BR | $1,131 |
| Two BR | $1,374 |
| Three BR | $1,661 |
| Four BR | $1,830 |
2024 Fair Market Rents in Sharon Springs, New York
How many units are rented at Fair Market Rent (FMR) in Sharon Springs?
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 | 23 | 100 percent |
| Two BR | 18 | 95 percent |
Rental Units Below FMR in Sharon Springs, New York
How many affordable rental units are in Sharon Springs?
There are a variety of federal affordable housing programs serving households in Sharon Springs, New York including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 24 |
Tracked Units by Federal Program in Sharon Springs, New York
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Sharon Springs, New York
Sharon Springs features 0 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 Sharon Springs, New York
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sharon Springs.
Housing Choice Vouchers in Sharon Springs, New York
On average, Section 8 Housing Choice vouchers pay Sharon Springs landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Sharon Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Sharon Springs, New York for a two-bedroom apartment is between $1,237 and $1,511.
Sourced from federal housing data and AffordableHousingOnline.com research.
