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

Discover affordable housing in Merchantville where there are 2+ 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.

Chestnut Station Apartments

20 W Chestnut Ave, Merchantville, New Jersey 08109

Merchantville Senior Aka Chestnut Station Apartments

25 E Park Ave, Merchantville, New Jersey 08109

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Merchantville, 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 Merchantville, New Jersey Affordable Housing ↓

What HUD offices serve Merchantville, 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 Merchantville, New Jersey.

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

How many renters live in Merchantville, New Jersey?

The City of Merchantville has 3,800 people living in 1,473 households.

There are 1,030 renters living in 589 renter households in this City. Renters make up 27.11 percent of the population living in Merchantville.

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

There are an estimated 1,617 housing units in the Merchantville area. Of these, 589 units are rental homes, making up 36 percent of the housing market. For every renter household in Merchantville, New Jersey, there are 1 rental units.

What is the vacancy rate for rentals in Merchantville?

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

Occupied Rental Units by Size in Merchantville
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
34 199 250 94 12
Occupied Rental Units by Size in Merchantville

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

Among renter households in this market, 52 percent have housing cost burden. Further, 40 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 Merchantville

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 Merchantville, New Jersey

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

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 31 91 percent
One BR 196 98 percent
Two BR 219 88 percent
Rental Units Below FMR in Merchantville, New Jersey

How many affordable rental units are in Merchantville?

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

Federal Program Unit Count
Low Income Housing Tax Credit 192
Section 8 Project-Based Rental Assistance 1
Tracked Units by Federal Program in Merchantville, New Jersey

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

Income Based Apartments in Merchantville, New Jersey

Merchantville 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 Merchantville, New Jersey

There are 148 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Merchantville.

Housing Choice Vouchers in Merchantville, New Jersey

On average, Section 8 Housing Choice vouchers pay Merchantville landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Merchantville.

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

Sourced from federal housing data and AffordableHousingOnline.com research.