What HUD offices serve Iselin, 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 Iselin.
How many renters live in Iselin, New Jersey?
The City of Iselin has 18,511 people living in 6,444 households.
There are 5,575 renters living in 2,016 renter households in this City. Renters make up 30.12 percent of the population living in Iselin.
What is the rental market like in Iselin, New Jersey?
There are an estimated 6,806 housing units in the Iselin area. Of these, 2,048 units are rental homes, making up 30 percent of the housing market. For every renter household in Iselin, New Jersey, there are 1 rental units.
What is the vacancy rate for rentals in Iselin?
The rental vacancy rate in Iselin is 2 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 Iselin for each bedroom size?
Occupied Rental Units by Size in Iselin
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 59 | 606 | 1,015 | 239 | 97 |
Occupied Rental Units by Size in Iselin
A large number of apartments in Iselin 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 Iselin 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 Iselin
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,608 to $3,031. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,608 |
| One BR | $1,807 |
| Two BR | $2,276 |
| Three BR | $2,756 |
| Four BR | $3,031 |
2024 Fair Market Rents in Iselin, New Jersey
How many units are rented at Fair Market Rent (FMR) in Iselin?
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 | 15 | 25 percent |
| One BR | 132 | 22 percent |
| Two BR | 24 | 2 percent |
Rental Units Below FMR in Iselin, New Jersey
How many affordable rental units are in Iselin?
Income Based Apartments in Iselin, New Jersey
Iselin features 145 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 Iselin, New Jersey
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Iselin.
Housing Choice Vouchers in Iselin, New Jersey
On average, Section 8 Housing Choice vouchers pay Iselin landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Iselin.
The maximum amount a voucher would pay on behalf of a low-income tenant in Iselin, New Jersey for a two-bedroom apartment is between $2,048 and $2,504.
Sourced from federal housing data and AffordableHousingOnline.com research.
