Low Income Apartments and Affordable Housing For Rent in Belmont, MA

Discover affordable housing in Belmont where there are 1+ 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.

Waverly Woods - Zone 6 Mclean

2 Olmsted Dr, Belmont, Massachusetts 02478

Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

calendar_today Opened: Jan 6
Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Belmont, Massachusetts
$53.54/hour
$38.54 (+257%) more than Massachusetts minimum wage and $46.29 (+639%) more than the Federal minimum wage.
Learn More About Belmont, Massachusetts Affordable Housing ↓

What HUD offices serve Belmont, Massachusetts?

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 Belmont, Massachusetts.
Operates the Section 8 Housing Choice Voucher (HCV), Moving to Work programs for Belmont, Massachusetts.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Belmont, Massachusetts.

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

How many renters live in Belmont, Massachusetts?

The City of Belmont has 26,997 people living in 10,431 households.

There are 8,732 renters living in 3,808 renter households in this City. Renters make up 32.34 percent of the population living in Belmont.

What is the rental market like in Belmont, Massachusetts?

There are an estimated 10,851 housing units in the Belmont area. Of these, 3,860 units are rental homes, making up 36 percent of the housing market. For every renter household in Belmont, Massachusetts, there are 1 rental units.

What is the vacancy rate for rentals in Belmont?

The rental vacancy rate in Belmont is 1 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 Belmont for each bedroom size?

Occupied Rental Units by Size in Belmont
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
107 652 2,001 711 281
Occupied Rental Units by Size in Belmont

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

Among renter households in this market, 38 percent have housing cost burden. Further, 17 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 Belmont

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $2,212 to $3,765. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $2,212
One BR $2,377
Two BR $2,827
Three BR $3,418
Four BR $3,765
2024 Fair Market Rents in Belmont, Massachusetts

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

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 83 78 percent
One BR 199 31 percent
Two BR 154 8 percent
Rental Units Below FMR in Belmont, Massachusetts

How many affordable rental units are in Belmont?

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

Federal Program Unit Count
Low Income Housing Tax Credit 40
Tracked Units by Federal Program in Belmont, Massachusetts

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

Income Based Apartments in Belmont, Massachusetts

Belmont 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 Belmont, Massachusetts

There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Belmont.

Housing Choice Vouchers in Belmont, Massachusetts

On average, Section 8 Housing Choice vouchers pay Belmont landlords $1,100 per month towards rent. The average voucher holder contributes $500 towards rent in Belmont.

The maximum amount a voucher would pay on behalf of a low-income tenant in Belmont, Massachusetts for a two-bedroom apartment is between $2,544 and $3,110.

Sourced from federal housing data and AffordableHousingOnline.com research.