Low Income Apartments and Affordable Housing For Rent in Caribou, ME

Discover affordable housing in Caribou where there are 3+ 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.

North Ridge Apartments

17 Jacobs Avenue, Caribou, Maine 04736

Caribou Apartments

Solman Ave, Caribou, Maine 04736

North Ridge II

21 Jacobs Ave, Caribou, Maine 04736

calendar_today Opened: Jan 26

Reported On February 2nd, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Caribou, Maine
$17.95/hour
$3.80 (+27%) more than Maine minimum wage and $10.70 (+148%) more than the Federal minimum wage.
Learn More About Caribou, Maine Affordable Housing ↓

What HUD offices serve Caribou, Maine?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Caribou, Maine.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Caribou, Maine.

Go to the Maine Public Housing and Low-Income Apartments Waiting Lists page for openings near Caribou.

How many renters live in Caribou, Maine?

The City of Caribou has 7,454 people living in 3,526 households.

There are 1,853 renters living in 1,028 renter households in this City. Renters make up 24.86 percent of the population living in Caribou.

What is the rental market like in Caribou, Maine?

There are an estimated 3,902 housing units in the Caribou area. Of these, 1,115 units are rental homes, making up 29 percent of the housing market. For every renter household in Caribou, Maine, there are 1 rental units.

What is the vacancy rate for rentals in Caribou?

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

Occupied Rental Units by Size in Caribou
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
25 407 456 112 28
Occupied Rental Units by Size in Caribou

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

Among renter households in this market, 37 percent have housing cost burden. Further, 19 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 Caribou

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $664 to $1,374. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $664
One BR $758
Two BR $948
Three BR $1,292
Four BR $1,374
2024 Fair Market Rents in Caribou, Maine

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

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 16 64 percent
One BR 386 95 percent
Two BR 375 82 percent
Rental Units Below FMR in Caribou, Maine

How many affordable rental units are in Caribou?

There are a variety of federal affordable housing programs serving households in Caribou, Maine including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 51
Section 8 Project-Based Rental Assistance 109
USDA Section 515 Rural Rental Housing 168
Tracked Units by Federal Program in Caribou, Maine

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

Income Based Apartments in Caribou, Maine

Caribou features 32 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 Caribou, Maine

There are 51 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Caribou.

Housing Choice Vouchers in Caribou, Maine

On average, Section 8 Housing Choice vouchers pay Caribou landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Caribou.

The maximum amount a voucher would pay on behalf of a low-income tenant in Caribou, Maine for a two-bedroom apartment is between $853 and $1,043.

Sourced from federal housing data and AffordableHousingOnline.com research.