What HUD offices serve Florham Park, New Jersey?
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.
Go to the New Jersey Public Housing and Low-Income Apartments Waiting Lists page for openings near Florham Park.
How many renters live in Florham Park, New Jersey?
The City of Florham Park has people living in households.
There are renters living in renter households in this City. Renters make up 20.66 percent of the population living in Florham Park.
What is the rental market like in Florham Park, New Jersey?
There are an estimated housing units in the Florham Park area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Florham Park, New Jersey, there are 1.02 rental units.
What is the vacancy rate for rentals in Florham Park?
The rental vacancy rate in Florham Park 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 Florham Park for each bedroom size?
Occupied Rental Units by Size in Florham Park
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 26 | 462 | 605 | 270 | 0 |
Occupied Rental Units by Size in Florham Park
A large number of apartments in Florham Park have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Florham Park
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,379 to $2,800. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,379 |
| One BR | $1,590 |
| Two BR | $1,916 |
| Three BR | $2,424 |
| Four BR | $2,800 |
2024 Fair Market Rents in Florham Park, New Jersey
How many units are rented at Fair Market Rent (FMR) in Florham Park?
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 | 0 | 100 percent |
| One BR | 200 | 43 percent |
| Two BR | 49 | 8 percent |
Rental Units Below FMR in Florham Park, New Jersey
How many affordable rental units are in Florham Park?
There are a variety of federal affordable housing programs serving households in Florham Park, New Jersey including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 811 Supportive Housing for Persons with Disabilities |
Tracked Units by Federal Program in Florham Park, New Jersey
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Florham Park, New Jersey
Florham Park features 1 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 Florham Park, New Jersey
There are 125 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Florham Park.
Housing Choice Vouchers in Florham Park, New Jersey
On average, Section 8 Housing Choice vouchers pay Florham Park landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in Florham Park.
The maximum amount a voucher would pay on behalf of a low-income tenant in Florham Park, New Jersey for a two-bedroom apartment is between $1,724 and $2,108.
Sourced from federal housing data and AffordableHousingOnline.com research.