What HUD offices serve Forked River, 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 Forked River.
How many renters live in Forked River, New Jersey?
The City of Forked River has 5,003 people living in 2,088 households.
There are 987 renters living in 262 renter households in this City. Renters make up 19.73 percent of the population living in Forked River.
What is the rental market like in Forked River, New Jersey?
There are an estimated 2,713 housing units in the Forked River area. Of these, 262 units are rental homes, making up 10 percent of the housing market. For every renter household in Forked River, New Jersey, there are 1 rental units.
What is the vacancy rate for rentals in Forked River?
The rental vacancy rate in Forked River is 0 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 Forked River for each bedroom size?
Occupied Rental Units by Size in Forked River
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 41 | 24 | 156 | 41 |
Occupied Rental Units by Size in Forked River
A large number of apartments in Forked River have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Forked River are overburdened by housing costs?
Among renter households in this market, 40 percent have housing cost burden. Further, 19 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Forked River
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,385 to $2,904. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,385 |
| One BR | $1,546 |
| Two BR | $1,916 |
| Three BR | $2,604 |
| Four BR | $2,904 |
2024 Fair Market Rents in Forked River, New Jersey
How many units are rented at Fair Market Rent (FMR) in Forked River?
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 |
| One BR | 41 | 100 percent |
| Two BR | 14 | 58 percent |
Rental Units Below FMR in Forked River, New Jersey
How many affordable rental units are in Forked River?
Income Based Apartments in Forked River, New Jersey
Forked River features 5 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 Forked River, New Jersey
There are 170 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Forked River.
Housing Choice Vouchers in Forked River, New Jersey
On average, Section 8 Housing Choice vouchers pay Forked River landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Forked River.
The maximum amount a voucher would pay on behalf of a low-income tenant in Forked River, New Jersey for a two-bedroom apartment is between $1,724 and $2,108.
Sourced from federal housing data and AffordableHousingOnline.com research.
