Affordable Housing In East New Market
1 Low Income Apartment Communities In East New Market
Housing Authorities that serve East New Market
|Maryland Department of Housing and Community Development||Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency; Homeownership; Section 8 HCV Money Follows the Person (MFP)|
Guide To Affordable Housing in East New Market, Maryland
There are 1 low income housing apartment communities offering 10 affordable apartments for rent in East New Market, Maryland.
Income Based Apartments in East New Market, Maryland
East New Market 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 East New Market, Maryland
There are 10 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in East New Market.
Housing Choice Vouchers in East New Market, Maryland
On average, Section 8 Housing Choice vouchers pay East New Market landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in East New Market.
The maximum amount a voucher would pay on behalf of a low-income tenant in East New Market, Maryland for a two-bedroom apartment is between $825 and $1,009.
2020 East New Market, Maryland Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
|Studio||One BR||Two BR||Three BR||Four BR|
|Fair Market Rent||$783||$784||$917||$1,268||$1,393|
|Payment Standard Range||$705 to $861||$706 to $862||$825 to $1,009||$1,141 to $1,395||$1,254 to $1,532|
Sourced from federal housing data and AffordableHousingOnline.com research.
East New Market, MD Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||10|
|Total Housing Units with Rental Assistance||0|
|Percentage of Housing Units Occupied By Renters||21.02%|
|Average Renter Household Size||2.97|
|Average Household Size||2.92|
|Median Household Income||$39,769 ±$19,219|
|Median Rent||$825 ±$334|
|Percentage Of Renters Overburdened||48.48% ± 48.79pp|
Population and Household Demographics
East New Market is a city in Dorchester County, Maryland with a population of 458. There are 157 households in the city with an average household size of 2.92 persons. 21.02% of households in East New Market are renters.
Income and Rent Overburden in East New Market
The median gross income for households in East New Market is $39,769 a year, or $3,314 a month. The median rent for the city is $825 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In East New Market, a household making less than $2,750 a month would be considered overburdened when renting an apartment at or above the median rent. 48.48% of households who rent are overburdened in East New Market.
Area Median Income In East New Market
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For East New Market, the AMI is calculated from all households within Dorchester County.
In East New Market, HUD calculates the Area Median Income for a family of four as $68,400
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in East New Market
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in East New Market
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$15,300||$17,500||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$25,500||$29,150||$32,800||$36,400||$39,350||$42,250||$45,150||$48,050|
|80% of Median||$40,800||$46,600||$52,450||$58,250||$62,950||$67,600||$72,250||$76,900|