Low Income Apartments and Affordable Housing For Rent in Potomac, MD

Discover affordable housing in Potomac where there are 6+ 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.

Victory Terrace Senior Apartments

9440 Newbridge Dr, Potomac, Maryland 20854

Scotland Community Townhomes

7838 Scotland Dr, Potomac, Maryland 20854


7838 SCOTLAND DR, Potomac, Maryland 20854

Byron House, Inc

9200 Kentsdale Dr, Potomac, Maryland 20854

Tobytown ( Homeownership

12604 Tobytown Dr, Potomac, Maryland 20854

Montgomery Homes VI - A

9728 Pleasant Gate Ln, Potomac, Maryland 20854

calendar_today Opened: Jul 30
Open Until Further Notice

Reported On February 23rd, 2024 by Madison Shannahan

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Potomac, Maryland
$23.73 (+158%) more than Maryland minimum wage and $31.48 (+434%) more than the Federal minimum wage.
Learn More About Potomac, Maryland Affordable Housing ↓

What HUD offices serve Potomac, Maryland?

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), Public Housing programs for Potomac, Maryland.

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

How many renters live in Potomac, Maryland?

The City of Potomac has 46,499 people living in 16,328 households.

There are 5,956 renters living in 2,415 renter households in this City. Renters make up 12.81 percent of the population living in Potomac.

What is the rental market like in Potomac, Maryland?

There are an estimated 16,860 housing units in the Potomac area. Of these, 2,445 units are rental homes, making up 15 percent of the housing market. For every renter household in Potomac, Maryland, there are 1 rental units.

What is the vacancy rate for rentals in Potomac?

The rental vacancy rate in Potomac is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Potomac for each bedroom size?

Occupied Rental Units by Size in Potomac
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
130 433 760 494 332
Occupied Rental Units by Size in Potomac

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

Among renter households in this market, 36 percent have housing cost burden. Further, 12 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 Potomac

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,772 to $3,015. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,772
One BR $1,803
Two BR $2,045
Three BR $2,544
Four BR $3,015
2024 Fair Market Rents in Potomac, Maryland

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

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 40 31 percent
One BR 266 61 percent
Two BR 148 19 percent
Rental Units Below FMR in Potomac, Maryland

How many affordable rental units are in Potomac?

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

Federal Program Unit Count
Low Income Housing Tax Credit 259
Section 8 Project-Based Rental Assistance 304
Tracked Units by Federal Program in Potomac, Maryland

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

Income Based Apartments in Potomac, Maryland

Potomac features 79 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 Potomac, Maryland

There are 190 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Potomac.

Housing Choice Vouchers in Potomac, Maryland

On average, Section 8 Housing Choice vouchers pay Potomac landlords $1,300 per month towards rent. The average voucher holder contributes $600 towards rent in Potomac.

The maximum amount a voucher would pay on behalf of a low-income tenant in Potomac, Maryland for a two-bedroom apartment is between $1,841 and $2,250.

Sourced from federal housing data and AffordableHousingOnline.com research.