What HUD offices serve Silver Spring, 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.
Go to the Maryland Public Housing and Low-Income Apartments Waiting Lists page for openings near Silver Spring.
How many renters live in Silver Spring, Maryland?
The City of Silver Spring has people living in households.
There are renters living in renter households in this City. Renters make up 52.42 percent of the population living in Silver Spring.
What is the rental market like in Silver Spring, Maryland?
There are an estimated housing units in the Silver Spring area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Silver Spring, Maryland, there are 1.02 rental units.
What is the vacancy rate for rentals in Silver Spring?
The rental vacancy rate in Silver Spring is 4 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 Silver Spring for each bedroom size?
Occupied Rental Units by Size in Silver Spring
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms 2,532 8,944 7,491 1,829 216 Occupied Rental Units by Size in Silver Spring
A large number of apartments in Silver Spring 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 Silver Spring
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 Silver Spring, Maryland
How many units are rented at Fair Market Rent (FMR) in Silver Spring?
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 1,083 43 percent One BR 3,119 35 percent Two BR 926 12 percent Rental Units Below FMR in Silver Spring, Maryland
How many affordable rental units are in Silver Spring?
There are a variety of federal affordable housing programs serving households in
Silver Spring, Maryland including the following: Rental units may be funded in part by multiple federal programs.Federal Program Unit Count Low Income Housing Tax Credit Section 8 Project-Based Rental Assistance Section 202 Supportive Housing for the Elderly Section 811 Supportive Housing for Persons with Disabilities Tracked Units by Federal Program in Silver Spring, Maryland
Income Based Apartments in Silver Spring, Maryland
Silver Spring features 2,716 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 Silver Spring, Maryland
There are 4,082 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Silver Spring.
Housing Choice Vouchers in Silver Spring, Maryland
On average, Section 8 Housing Choice vouchers pay Silver Spring landlords $1,300 per month towards rent. The average voucher holder contributes $400 towards rent in Silver Spring.
The maximum amount a voucher would pay on behalf of a low-income tenant in Silver Spring, Maryland for a two-bedroom apartment is between $1,841 and $2,250.
Sourced from federal housing data and AffordableHousingOnline.com research.