How many renters live in Waterford, Connecticut?
The City of Waterford has people living in households.
There are renters living in renter households in this City. Renters make up 27.59 percent of the population living in Waterford.
What is the rental market like in Waterford, Connecticut?
There are an estimated housing units in the Waterford area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Waterford, Connecticut, there are 1.14 rental units.
What is the vacancy rate for rentals in Waterford?
The rental vacancy rate in Waterford is 8 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 Waterford for each bedroom size?
Occupied Rental Units by Size in Waterford
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 112 | 169 | 110 | 57 |
Occupied Rental Units by Size in Waterford
A large number of apartments in Waterford have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Waterford
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,055 to $2,625. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,055 |
| One BR | $1,263 |
| Two BR | $1,556 |
| Three BR | $2,030 |
| Four BR | $2,625 |
2024 Fair Market Rents in Waterford, Connecticut
How many units are rented at Fair Market Rent (FMR) in Waterford?
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 | 80 | 71 percent |
| Two BR | 105 | 62 percent |
Rental Units Below FMR in Waterford, Connecticut
How many affordable rental units are in Waterford?
There are a variety of federal affordable housing programs serving households in Waterford, Connecticut including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 202 Supportive Housing for the Elderly |
Tracked Units by Federal Program in Waterford, Connecticut
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Waterford, Connecticut
Waterford features 120 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 Waterford, Connecticut
There are 90 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Waterford.
Housing Choice Vouchers in Waterford, Connecticut
On average, Section 8 Housing Choice vouchers pay Waterford landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Waterford.
The maximum amount a voucher would pay on behalf of a low-income tenant in Waterford, Connecticut for a two-bedroom apartment is between $1,400 and $1,712.
Sourced from federal housing data and AffordableHousingOnline.com research.