How many renters live in Waverly, New York?
The City of Waverly has 4,360 people living in 1,927 households.
There are 1,810 renters living in 923 renter households in this City. Renters make up 41.51 percent of the population living in Waverly.
What is the rental market like in Waverly, New York?
There are an estimated 2,042 housing units in the Waverly area. Of these, 923 units are rental homes, making up 45 percent of the housing market. For every renter household in Waverly, New York, there are 1 rental units.
What is the vacancy rate for rentals in Waverly?
The rental vacancy rate in Waverly 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 Waverly for each bedroom size?
Occupied Rental Units by Size in Waverly
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 69 | 369 | 270 | 207 | 8 |
Occupied Rental Units by Size in Waverly
A large number of apartments in Waverly 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 Waverly are overburdened by housing costs?
Among renter households in this market, 51 percent have housing cost burden. Further, 21 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 Waverly
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $855 to $1,644. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $855 |
| One BR | $904 |
| Two BR | $1,141 |
| Three BR | $1,494 |
| Four BR | $1,644 |
2024 Fair Market Rents in Waverly, New York
How many units are rented at Fair Market Rent (FMR) in Waverly?
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 | 23 | 33 percent |
| One BR | 258 | 70 percent |
| Two BR | 212 | 79 percent |
Rental Units Below FMR in Waverly, New York
How many affordable rental units are in Waverly?
There are a variety of federal affordable housing programs serving households in Waverly, New York including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 75 |
| Section 8 Project-Based Rental Assistance | 76 |
| USDA Section 515 Rural Rental Housing | 35 |
Tracked Units by Federal Program in Waverly, New York
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Waverly, New York
Waverly features 111 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 Waverly, New York
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Waverly.
Housing Choice Vouchers in Waverly, New York
On average, Section 8 Housing Choice vouchers pay Waverly landlords $900 per month towards rent. The average voucher holder contributes $300 towards rent in Waverly.
The maximum amount a voucher would pay on behalf of a low-income tenant in Waverly, New York for a two-bedroom apartment is between $1,027 and $1,255.
Sourced from federal housing data and AffordableHousingOnline.com research.
