Low Income Apartments and Affordable Housing For Rent in Neptune City, NJ

Discover affordable housing in Neptune City 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.

Neptune City Housing

2030 6th Ave, Neptune City, New Jersey 07753

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Neptune City, New Jersey
$36.29/hour
$22.56 (+164%) more than New Jersey minimum wage and $29.04 (+401%) more than the Federal minimum wage.
Learn More About Neptune City, New Jersey Affordable Housing ↓

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

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

How many renters live in Neptune City, New Jersey?

The City of Neptune City has 4,619 people living in 2,219 households.

There are 1,636 renters living in 931 renter households in this City. Renters make up 35.42 percent of the population living in Neptune City.

What is the rental market like in Neptune City, New Jersey?

There are an estimated 2,387 housing units in the Neptune City area. Of these, 931 units are rental homes, making up 39 percent of the housing market. For every renter household in Neptune City, New Jersey, there are 1 rental units.

What is the vacancy rate for rentals in Neptune City?

The rental vacancy rate in Neptune City 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 Neptune City for each bedroom size?

Occupied Rental Units by Size in Neptune City
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 779 135 17 0
Occupied Rental Units by Size in Neptune City

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

Among renter households in this market, 43 percent have housing cost burden. Further, 33 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 Neptune City

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 Neptune City, New Jersey

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

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 648 83 percent
Two BR 28 21 percent
Rental Units Below FMR in Neptune City, New Jersey

How many affordable rental units are in Neptune City?

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

Federal Program Unit Count
Public Housing 28
Tracked Units by Federal Program in Neptune City, New Jersey

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

Income Based Apartments in Neptune City, New Jersey

Neptune City features 60 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 Neptune City, New Jersey

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

Housing Choice Vouchers in Neptune City, New Jersey

On average, Section 8 Housing Choice vouchers pay Neptune City landlords $1,000 per month towards rent. The average voucher holder contributes $500 towards rent in Neptune City.

The maximum amount a voucher would pay on behalf of a low-income tenant in Neptune City, New Jersey for a two-bedroom apartment is between $1,724 and $2,108.

Sourced from federal housing data and AffordableHousingOnline.com research.