What HUD offices serve North Caldwell, 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 North Caldwell.
How many renters live in North Caldwell, New Jersey?
The City of North Caldwell has 6,625 people living in 2,208 households.
There are 230 renters living in 57 renter households in this City. Renters make up 3.47 percent of the population living in North Caldwell.
What is the rental market like in North Caldwell, New Jersey?
There are an estimated 2,335 housing units in the North Caldwell area. Of these, 57 units are rental homes, making up 2 percent of the housing market. For every renter household in North Caldwell, New Jersey, there are 1 rental units.
What is the vacancy rate for rentals in North Caldwell?
The rental vacancy rate in North Caldwell 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 North Caldwell for each bedroom size?
Occupied Rental Units by Size in North Caldwell
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 0 | 25 | 19 |
Occupied Rental Units by Size in North Caldwell
A large number of apartments in North Caldwell 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 North Caldwell are overburdened by housing costs?
Among renter households in this market, 44 percent have housing cost burden. Further, 0 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 North Caldwell
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,379 to $2,800. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,379 |
| One BR | $1,590 |
| Two BR | $1,916 |
| Three BR | $2,424 |
| Four BR | $2,800 |
2024 Fair Market Rents in North Caldwell, New Jersey
How many units are rented at Fair Market Rent (FMR) in North Caldwell?
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 |
Rental Units Below FMR in North Caldwell, New Jersey
How many affordable rental units are in North Caldwell?
Income Based Apartments in North Caldwell, New Jersey
North Caldwell 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 North Caldwell, New Jersey
There are 50 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in North Caldwell.
Housing Choice Vouchers in North Caldwell, New Jersey
On average, Section 8 Housing Choice vouchers pay North Caldwell landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in North Caldwell.
The maximum amount a voucher would pay on behalf of a low-income tenant in North Caldwell, New Jersey for a two-bedroom apartment is between $1,724 and $2,108.
Sourced from federal housing data and AffordableHousingOnline.com research.
