Affordable Housing In Cherry Hill Mall
Camden County, New Jersey

Housing Authorities that serve Cherry Hill Mall

Housing Authority Programs
State of New Jersey Department of Community Affairs Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Cherry Hill Mall, New Jersey

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Cherry Hill Mall, New Jersey.

Income Based Apartments in Cherry Hill Mall, New Jersey

Cherry Hill Mall 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 Cherry Hill Mall, New Jersey

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cherry Hill Mall.

Housing Choice Vouchers in Cherry Hill Mall, New Jersey

On average, Section 8 Housing Choice vouchers pay Cherry Hill Mall landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in Cherry Hill Mall.

The maximum amount a voucher would pay on behalf of a low-income tenant in Cherry Hill Mall, New Jersey for a two-bedroom apartment is between $1,134 and $1,386.

2021 Cherry Hill Mall, New Jersey 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
Cherry Hill Mall, New Jersey Fair Market Rent $900 $1,040 $1,260 $1,567 $1,796
Cherry Hill Mall, New Jersey Payment Standard Range $810 to $990 $936 to $1,144 $1,134 to $1,386 $1,410 to $1,724 $1,616 to $1,976

Sourced from federal housing data and AffordableHousingOnline.com research.

Cherry Hill Mall, NJ Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 35.26%
Average Renter Household Size 2.28
Average Household Size 2.62
Median Household Income $86,250 ±$9,544
Median Rent $1,371 ±$84
Percentage Of Renters Overburdened 47.28% ± 11.04pp
Total Population 13,829

Population and Household Demographics

Cherry Hill Mall is a city in Camden County, New Jersey with a population of 13,829. There are 5,219 households in the city with an average household size of 2.62 persons. 35.26% of households in Cherry Hill Mall are renters.

Income and Rent Overburden in Cherry Hill Mall

The median gross income for households in Cherry Hill Mall is $86,250 a year, or $7,188 a month. The median rent for the city is $1,371 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cherry Hill Mall, a household making less than $4,570 a month would be considered overburdened when renting an apartment at or above the median rent. 47.28% of households who rent are overburdened in Cherry Hill Mall.

Area Median Income In Cherry Hill Mall

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 Cherry Hill Mall, the AMI is calculated from all households within Camden County.

In Cherry Hill Mall, HUD calculates the Area Median Income for a family of four as $94,500

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 Cherry Hill Mall

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 Cherry Hill Mall

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Cherry Hill Mall AMI may qualify for rental assistance programs that target Extremely Low Income households.
$19,850 $22,700 $25,550 $28,350 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Cherry Hill Mall AMI may qualify for rental assistance programs that target Very Low Income households.
$33,100 $37,800 $42,550 $47,250 $51,050 $54,850 $58,600 $62,400
80% AMI Income Limits
Renters earning up to 80% of the Cherry Hill Mall AMI may qualify for rental assistance programs that target Low Income households.
$52,950 $60,500 $68,050 $75,600 $81,650 $87,700 $93,750 $99,800