Low Income Apartments and Affordable Housing For Rent in Gibbsboro, NJ

Discover affordable housing in Gibbsboro where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Freedom Village by the Lake at Gibbsboro

500 Independence Way, Gibbsboro, New Jersey 08026

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Gibbsboro, New Jersey
$32.90/hour
$19.17 (+140%) more than New Jersey minimum wage and $25.65 (+354%) more than the Federal minimum wage.
Learn More About Gibbsboro, New Jersey Affordable Housing ↓

What HUD offices serve Gibbsboro, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Gibbsboro, New Jersey.

Go to the New Jersey Public Housing and Low-Income Apartments Waiting Lists page for openings near Gibbsboro.

How many renters live in Gibbsboro, New Jersey?

The City of Gibbsboro has 2,278 people living in 782 households.

There are 142 renters living in 71 renter households in this City. Renters make up 6.23 percent of the population living in Gibbsboro.

What is the rental market like in Gibbsboro, New Jersey?

There are an estimated 830 housing units in the Gibbsboro area. Of these, 71 units are rental homes, making up 9 percent of the housing market. For every renter household in Gibbsboro, New Jersey, there are 1 rental units.

What is the vacancy rate for rentals in Gibbsboro?

The rental vacancy rate in Gibbsboro 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 Gibbsboro for each bedroom size?

Occupied Rental Units by Size in Gibbsboro
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
37 0 7 20 7
Occupied Rental Units by Size in Gibbsboro

A large number of apartments in Gibbsboro 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 Gibbsboro are overburdened by housing costs?

Among renter households in this market, 61 percent have housing cost burden. Further, 52 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 Gibbsboro

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,303 to $2,422. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,303
One BR $1,451
Two BR $1,737
Three BR $2,100
Four BR $2,422
2024 Fair Market Rents in Gibbsboro, New Jersey

How many units are rented at Fair Market Rent (FMR) in Gibbsboro?

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 37 100 percent
Two BR 6 86 percent
Rental Units Below FMR in Gibbsboro, New Jersey

How many affordable rental units are in Gibbsboro?

There are a variety of federal affordable housing programs serving households in Gibbsboro, New Jersey including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 144
Tracked Units by Federal Program in Gibbsboro, New Jersey

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Gibbsboro, New Jersey

Gibbsboro 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 Gibbsboro, New Jersey

There are 72 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Gibbsboro.

Housing Choice Vouchers in Gibbsboro, New Jersey

On average, Section 8 Housing Choice vouchers pay Gibbsboro landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Gibbsboro.

The maximum amount a voucher would pay on behalf of a low-income tenant in Gibbsboro, New Jersey for a two-bedroom apartment is between $1,563 and $1,911.

Sourced from federal housing data and AffordableHousingOnline.com research.