Low Income Apartments and Affordable Housing For Rent in Monmouth Junction, NJ

Discover affordable housing in Monmouth Junction 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.

Woodhaven Terrace

100 Woodhaven Dr , Monmouth Junction, New Jersey 08852

Oak Woods Senior Citizens Housing

700 Woods Ln, Monmouth Junction, New Jersey 8852

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Monmouth Junction, New Jersey
$43.11/hour
$29.38 (+214%) more than New Jersey minimum wage and $35.86 (+495%) more than the Federal minimum wage.
Learn More About Monmouth Junction, New Jersey Affordable Housing ↓

What HUD offices serve Monmouth Junction, 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 Monmouth Junction, New Jersey.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Monmouth Junction, New Jersey.

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

How many renters live in Monmouth Junction, New Jersey?

The City of Monmouth Junction has 9,750 people living in 3,633 households.

There are 3,368 renters living in 1,324 renter households in this City. Renters make up 34.54 percent of the population living in Monmouth Junction.

What is the rental market like in Monmouth Junction, New Jersey?

There are an estimated 3,690 housing units in the Monmouth Junction area. Of these, 1,324 units are rental homes, making up 36 percent of the housing market. For every renter household in Monmouth Junction, New Jersey, there are 1 rental units.

What is the vacancy rate for rentals in Monmouth Junction?

The rental vacancy rate in Monmouth Junction 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 Monmouth Junction for each bedroom size?

Occupied Rental Units by Size in Monmouth Junction
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
72 421 760 61 10
Occupied Rental Units by Size in Monmouth Junction

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

Among renter households in this market, 34 percent have housing cost burden. Further, 23 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 Monmouth Junction

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 Monmouth Junction, New Jersey

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

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 72 100 percent
One BR 119 28 percent
Two BR 25 3 percent
Rental Units Below FMR in Monmouth Junction, New Jersey

How many affordable rental units are in Monmouth Junction?

Income Based Apartments in Monmouth Junction, New Jersey

Monmouth Junction features 113 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 Monmouth Junction, New Jersey

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monmouth Junction.

Housing Choice Vouchers in Monmouth Junction, New Jersey

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Monmouth Junction, New Jersey for a two-bedroom apartment is between $2,048 and $2,504.

Sourced from federal housing data and AffordableHousingOnline.com research.