Low Income Apartments and Affordable Housing For Rent in Waterford, CT

Discover affordable housing in Waterford where there are 4+ 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.

Jordan Brook Terrace

55 Yorkshire Dr, Waterford, Connecticut 06385

Ahepa 250 II - Waterford

95 Clark Ln, Waterford, Connecticut 06385

Victoria Gardens

105 Boston Post Rd Waterford, Waterford, Connecticut 06385

Twin Haven Waterford

P.O. Box 353, Waterford, Connecticut

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Waterford, Connecticut
$29.47/hour
$13.78 (+88%) more than Connecticut minimum wage and $22.22 (+306%) more than the Federal minimum wage.
Learn More About Waterford, Connecticut Affordable Housing ↓

How many renters live in Waterford, Connecticut?

The City of Waterford has 3,276 people living in 1,496 households.

There are 904 renters living in 470 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 1,589 housing units in the Waterford area. Of these, 534 units are rental homes, making up 34 percent of the housing market. For every renter household in Waterford, Connecticut, there are 1 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 many renter households in Waterford are overburdened by housing costs?

Among renter households in this market, 44 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 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 72
Section 202 Supportive Housing for the Elderly 51
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.