Affordable Housing In Newark
171 Low Income Apartment Communities In Newark
Housing Authorities that serve Newark
|Newark Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Newark, New Jersey
There are 171 low income housing apartment communities offering 19,713 affordable apartments for rent in Newark, New Jersey. Newark features 15,507 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 4,116 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Newark.
Sourced from federal housing data and AffordableHousingOnline.com research.
Newark, NJ Affordable Housing Snapshot
|Total Affordable Apartment Properties||171|
|Total Low Income Apartments||19,713|
|Total Housing Units with Rental Assistance||15,507|
|Percentage of Housing Units Occupied By Renters||78.33%|
|Average Renter Household Size||2.75|
|Average Household Size||2.87|
|Median Household Income||$33,139 ±$917|
|Median Rent||$973 ±$10|
|Percentage Of Renters Overburdened||57.34% ± 1.35pp|
Population and Household Demographics
Newark is a City in Essex County, New Jersey with a population of 279,793. There are 92,675 households in the city with an average household size of 2.87 persons. 78.33% of households in Newark are renters.
Income and Rent Overburden in Newark
The median gross income for households in Newark is $33,139 a year, or $2,762 a month. The median rent for the city is $973 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Newark, a household making less than $3,243 a month would be considered overburdened when renting an apartment at or above the median rent. 57.34% of households who rent are overburdened in Newark.1
Area Median Income In Newark
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Newark, the AMI is calculated from all households within Essex County.
In Newark, HUD calculates the Area Median Income for a family of four as $100,600
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Newark
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for Newark HUD Rental Assistance in Newark
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$21,150||$24,200||$27,200||$30,200||$32,650||$35,050||$39,010||$43,430|
|50% of Median||$35,250||$40,250||$45,300||$50,300||$54,350||$58,350||$62,400||$66,400|
|80% of Median||$52,850||$60,400||$67,950||$75,500||$81,550||$87,600||$93,650||$99,700|
Fair Market Rents in Newark
Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.
2020 Fair Market Rents
|Studio||One BR||Two BR||Three BR||Four BR|