How many renters live in Broad Brook, Connecticut?
The City of Broad Brook has 4,006 people living in 1,608 households.
There are 908 renters living in 463 renter households in this City. Renters make up 22.67 percent of the population living in Broad Brook.
What is the rental market like in Broad Brook, Connecticut?
There are an estimated 1,733 housing units in the Broad Brook area. Of these, 497 units are rental homes, making up 29 percent of the housing market. For every renter household in Broad Brook, Connecticut, there are 1 rental units.
What is the vacancy rate for rentals in Broad Brook?
The rental vacancy rate in Broad Brook is 7 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 Broad Brook for each bedroom size?
Occupied Rental Units by Size in Broad Brook
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 112 | 54 | 224 | 73 | 0 |
Occupied Rental Units by Size in Broad Brook
A large number of apartments in Broad Brook 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 Broad Brook are overburdened by housing costs?
Among renter households in this market, 37 percent have housing cost burden. Further, 22 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 Broad Brook
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,121 to $2,425. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,121 |
| One BR | $1,319 |
| Two BR | $1,654 |
| Three BR | $2,000 |
| Four BR | $2,425 |
2024 Fair Market Rents in Broad Brook, Connecticut
How many units are rented at Fair Market Rent (FMR) in Broad Brook?
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 | 112 | 100 percent |
| One BR | 50 | 93 percent |
| Two BR | 157 | 70 percent |
Rental Units Below FMR in Broad Brook, Connecticut
How many affordable rental units are in Broad Brook?
There are a variety of federal affordable housing programs serving households in Broad Brook, Connecticut including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 148 |
Tracked Units by Federal Program in Broad Brook, Connecticut
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Broad Brook, Connecticut
Broad Brook 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 Broad Brook, Connecticut
There are 360 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Broad Brook.
Housing Choice Vouchers in Broad Brook, Connecticut
On average, Section 8 Housing Choice vouchers pay Broad Brook landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in Broad Brook.
The maximum amount a voucher would pay on behalf of a low-income tenant in Broad Brook, Connecticut for a two-bedroom apartment is between $1,489 and $1,819.
Sourced from federal housing data and AffordableHousingOnline.com research.
