Affordable Housing In North Conway
5 Low Income Apartment Communities In North Conway
Guide To Affordable Housing in North Conway, New Hampshire
There are 5 low income housing apartment communities offering 143 affordable apartments for rent in North Conway, New Hampshire.
Income Based Apartments in North Conway, New Hampshire
North Conway features 143 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 North Conway, New Hampshire
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in North Conway.
Housing Choice Vouchers in North Conway, New Hampshire
On average, Section 8 Housing Choice vouchers pay North Conway landlords $800 per month towards rent. The average voucher holder contributes $400 towards rent in North Conway.
The maximum amount a voucher would pay on behalf of a low-income tenant in North Conway, New Hampshire for a two-bedroom apartment is between $902 and $1,102.
2020 North Conway, New Hampshire Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
|Studio||One BR||Two BR||Three BR||Four BR|
|Fair Market Rent||$653||$815||$1,002||$1,340||$1,643|
|Payment Standard Range||$588 to $718||$734 to $897||$902 to $1,102||$1,206 to $1,474||$1,479 to $1,807|
Sourced from federal housing data and AffordableHousingOnline.com research.
North Conway, NH Affordable Housing Snapshot
|Total Affordable Apartment Properties||5|
|Total Low Income Apartments||143|
|Total Housing Units with Rental Assistance||143|
|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|
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.
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 $71,900
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 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||$17,950||$20,500||$23,050||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$29,900||$34,150||$38,400||$42,650||$46,100||$49,500||$52,900||$56,300|
|80% of Median||$47,800||$54,600||$61,450||$68,250||$73,750||$79,200||$84,650||$90,100|