Low Income Apartments and Affordable Housing For Rent in Pascoag, RI

Discover affordable housing in Pascoag where there are 2+ 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.

Greenridge Commons

124 Garvy Ledges Ln, Pascoag, Rhode Island 02859

Bradford Court

45 N Main St, Pascoag, Rhode Island 2859

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Pascoag, Rhode Island
$32.06/hour
$18.06 (+129%) more than Rhode Island minimum wage and $24.81 (+342%) more than the Federal minimum wage.
Learn More About Pascoag, Rhode Island Affordable Housing ↓

How many renters live in Pascoag, Rhode Island?

The City of Pascoag has 4,527 people living in 1,524 households.

There are 1,521 renters living in 565 renter households in this City. Renters make up 33.6 percent of the population living in Pascoag.

What is the rental market like in Pascoag, Rhode Island?

There are an estimated 1,675 housing units in the Pascoag area. Of these, 565 units are rental homes, making up 34 percent of the housing market. For every renter household in Pascoag, Rhode Island, there are 1 rental units.

What is the vacancy rate for rentals in Pascoag?

The rental vacancy rate in Pascoag 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 Pascoag for each bedroom size?

Occupied Rental Units by Size in Pascoag
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
14 164 186 95 106
Occupied Rental Units by Size in Pascoag

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

Among renter households in this market, 37 percent have housing cost burden. Further, 37 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 Pascoag

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,289 to $2,536. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,289
One BR $1,398
Two BR $1,693
Three BR $2,047
Four BR $2,536
2024 Fair Market Rents in Pascoag, Rhode Island

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

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 14 100 percent
One BR 152 93 percent
Two BR 186 100 percent
Rental Units Below FMR in Pascoag, Rhode Island

How many affordable rental units are in Pascoag?

There are a variety of federal affordable housing programs serving households in Pascoag, Rhode Island including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 194
Section 8 Project-Based Rental Assistance 98
Tracked Units by Federal Program in Pascoag, Rhode Island

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

Income Based Apartments in Pascoag, Rhode Island

Pascoag 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 Pascoag, Rhode Island

There are 190 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Pascoag.

Housing Choice Vouchers in Pascoag, Rhode Island

On average, Section 8 Housing Choice vouchers pay Pascoag landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Pascoag.

The maximum amount a voucher would pay on behalf of a low-income tenant in Pascoag, Rhode Island for a two-bedroom apartment is between $1,524 and $1,862.

Sourced from federal housing data and AffordableHousingOnline.com research.