Affordable Housing In North Conway
Carroll County, New Hampshire

4 Low Income Apartment Communities In North Conway

Whitman Woods

77 Grove St
North Conway, NH
Subsidized

Millbrook Village

175 Grove St
North Conway, NH
Subsidized

Pinewood Elderly CO Foxfire Mgmt

73 Grove St
North Conway, NH
Subsidized

Kearsarge House

138 Kearsarge Rd
North Conway, NH
62+
Accessible
Elderly Supportive Housing
Subsidized
  • «
  • 1
  • »

Guide To Affordable Housing in North Conway, New Hampshire

There are 4 low income housing apartment communities offering 123 affordable apartments for rent in North Conway, New Hampshire. North Conway features 123 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in North Conway.

Sourced from federal housing data and AffordableHousingOnline.com research.

North Conway, NH Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 123
Total Housing Units with Rental Assistance 123
Percentage of Housing Units Occupied By Renters 55.89%
Average Renter Household Size 1.79
Average Household Size 1.97
Median Household Income $45,269 ±$11,775
Median Rent $880 ±$116
Percentage Of Renters Overburdened 49.21% ± 20.84pp
Total Population 2,314

Population and Household Demographics

North Conway is a City in Carroll County, New Hampshire with a population of 2,314. There are 1,138 households in the city with an average household size of 1.97 persons. 55.89% of households in North Conway are renters.

Income and Rent Overburden in North Conway

The median gross income for households in North Conway is $45,269 a year, or $3,772 a month. The median rent for the city is $880 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In North Conway, a household making less than $2,933 a month would be considered overburdened when renting an apartment at or above the median rent. 49.21% of households who rent are overburdened in North Conway.1

Area Median Income In North Conway

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 North Conway, the AMI is calculated from all households within Carroll County.

In North Conway, HUD calculates the Area Median Income for a family of four as $68,800

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 North Conway

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 North Conway HUD Rental Assistance in North Conway

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,150 $19,600 $22,050 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $28,600 $32,650 $36,750 $40,800 $44,100 $47,350 $50,600 $53,900
80% of Median $45,750 $52,250 $58,800 $65,300 $70,550 $75,750 $81,000 $86,200

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 North Conway

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $28,600 $32,650 $36,750 $40,800 $44,100 $47,350 $50,600 $53,900
60% of Median $34,320 $39,180 $44,100 $48,960 $52,920 $56,820 $60,720 $64,680

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 North Conway is $44,100 a year, or $3,675 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,675 by 30% to get a maximum rent of $1,103 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% $715 $766 $919 $1,061 $1,184 $1,306
60% $858 $919 $1,103 $1,274 $1,421 $1,568
Fair Market Rents in North Conway

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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$653 $815 $1,002 $1,340 $1,643