Low Income Apartments In Holyoke
Hampden County, Massachusetts

Low Income Apartments In Holyoke

Sycamore House

287 Essex Street
Holyoke, MA
Income Based
1 BR
Subsidized

Prospect Heights

41 Chestnut Street
Holyoke, MA
Income Based
1-2 BR
Subsidized

Holyoke Hill Apartments

360.5 Tokeneke Road
Holyoke, MA
$951-1,187
2-3 BR
HCV Welcome

Pulaski Heights

76 Maple Street
Holyoke, MA
Income Based
1 BR
Subsidized

Elmwood Towers

485 South Street
Holyoke, MA
Income Based
1-2 BR
55+
Market Rate

Holyoke Towers

582 Pleasant Street
Holyoke, MA
Income Based
1 BR
Market Rate
Subsidized

Hope 6 Rental Units

Walnut Ln
Holyoke, MA
HCV Welcome

Churchill Homes

334 Elm St
Holyoke, MA
HCV Welcome

Sargeant West Apartments

137 Sargeant St
Holyoke, MA
Subsidized

Mont Marie Senior Residence

34 Lower Westfield Rd
Holyoke, MA
62+
Accessible
Elderly Supportive Housing
Subsidized

There are 36 low income housing apartment complexes which contain 3,407 affordable apartments for rent in Holyoke. Many of these rental apartments are income based housing with 1,830 apartments that set rent based on your income. In Holyoke, HUD housing programs support 848 rental assistance apartments through programs like Project-based Section 8. There are 1,577 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Holyoke

Housing Authority Programs
Holyoke Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Moderate Rehabilitation; Homeownership; Moving to Work
Massachusetts Department of Housing and Community Development Section 8 Housing Choice Voucher (HCV); Moving to Work
Massachusetts Section 8 Housing Choice Voucher Centralized Waiting List Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Holyoke, Massachusetts

Holyoke, MA Affordable Housing Snapshot

Total Affordable Apartment Properties 36
Total Low Income Apartments 3,407
Total Rent Assisted Apartments 1,830
Percentage of Housing Units Occupied By Renters 59.61%
Average Renter Household Size 2.49
Total Population 40,342
Housing Units 15,324
Average Household Size 2.55
Median Household Income $36,608 ±$2,486
Median Rent $700 ±$28
Percentage Of Renters Overburdened 47.71% ± 4.17pp

Population and Household Demographics

Holyoke is a City in Hampden County, Massachusetts with a population of 40,342. There are 15,324 households in the city with an average household size of 2.55 persons. 59.61% of households in Holyoke are renters.

Income and Rent Overburden in Holyoke

The median gross income for households in Holyoke is $36,608 a year, or $3,051 a month. The median rent for the city is $700 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Holyoke, a household making less than $2,333 a month would be considered overburdened when renting an apartment at or above the median rent. 47.71% of households who rent are overburdened in Holyoke.1

Area Median Income In Holyoke

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 Holyoke, the AMI is calculated from all households within Hampden County.

In Holyoke, HUD calculates the Area Median Income for a family of four as $76,000

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 Holyoke

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 Holyoke HUD Rental Assistance in Holyoke

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $18,650 $21,300 $23,950 $26,600 $30,170 $34,590 $39,010 $43,430
50% of Median $31,050 $35,500 $39,950 $44,350 $47,900 $51,450 $55,000 $58,550
80% of Median $49,700 $56,800 $63,900 $70,950 $76,650 $82,350 $88,000 $93,700
Low Income Housing Tax Credits in Holyoke

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1988 to 2006, 13 low income apartment communities containing 1,504 rental apartments have been constructed and made affordable to low income persons in Holyoke by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Holyoke

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $37,260 $42,600 $47,940 $53,220 $57,480 $61,740 $66,000 $70,260

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Holyoke is $47,940 a year, or $3,995 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,995 by 30% to get a maximum rent of $1,199 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $776 $832 $999 $1,153 $1,286 $1,419
60% $932 $998 $1,199 $1,384 $1,544 $1,703
Fair Market Rents in Holyoke

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$702 $831 $1,061 $1,329 $1,521