What HUD offices serve North Cape May, 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 Cape May.
How many renters live in North Cape May, New Jersey?
The City of North Cape May has people living in households.
There are renters living in renter households in this City. Renters make up 20.25 percent of the population living in North Cape May.
What is the rental market like in North Cape May, New Jersey?
There are an estimated housing units in the North Cape May area. Of these, units are rental homes, making up percent of the housing market. For every renter household in North Cape May, New Jersey, there are 1.11 rental units.
What is the vacancy rate for rentals in North Cape May?
The rental vacancy rate in North Cape May is 10 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in North Cape May for each bedroom size?
Occupied Rental Units by Size in North Cape May
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 76 | 289 | 49 | 12 |
Occupied Rental Units by Size in North Cape May
A large number of apartments in North Cape May have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in North Cape May
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,107 to $2,090. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,107 |
| One BR | $1,194 |
| Two BR | $1,569 |
| Three BR | $1,973 |
| Four BR | $2,090 |
2024 Fair Market Rents in North Cape May, New Jersey
How many units are rented at Fair Market Rent (FMR) in North Cape May?
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 | 30 | 39 percent |
| Two BR | 181 | 63 percent |
Rental Units Below FMR in North Cape May, New Jersey
How many affordable rental units are in North Cape May?
Income Based Apartments in North Cape May, New Jersey
North Cape May features 152 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 Cape May, New Jersey
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in North Cape May.
Housing Choice Vouchers in North Cape May, New Jersey
On average, Section 8 Housing Choice vouchers pay North Cape May landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in North Cape May.
The maximum amount a voucher would pay on behalf of a low-income tenant in North Cape May, New Jersey for a two-bedroom apartment is between $1,412 and $1,726.
Sourced from federal housing data and AffordableHousingOnline.com research.