What HUD offices serve Oceanport, 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 Oceanport.
How many renters live in Oceanport, New Jersey?
The City of Oceanport has people living in households.
There are renters living in renter households in this City. Renters make up 4.53 percent of the population living in Oceanport.
What is the rental market like in Oceanport, New Jersey?
There are an estimated housing units in the Oceanport area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Oceanport, New Jersey, there are 1.33 rental units.
What is the vacancy rate for rentals in Oceanport?
The rental vacancy rate in Oceanport is 25 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 Oceanport for each bedroom size?
Occupied Rental Units by Size in Oceanport
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 149 | 0 | 33 | 0 |
Occupied Rental Units by Size in Oceanport
A large number of apartments in Oceanport 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 Oceanport
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 Oceanport, New Jersey
How many units are rented at Fair Market Rent (FMR) in Oceanport?
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 | 149 | 100 percent |
Rental Units Below FMR in Oceanport, New Jersey
How many affordable rental units are in Oceanport?
There are a variety of federal affordable housing programs serving households in Oceanport, New Jersey including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance |
Tracked Units by Federal Program in Oceanport, New Jersey
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Oceanport, New Jersey
Oceanport features 100 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 Oceanport, New Jersey
There are 43 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oceanport.
Housing Choice Vouchers in Oceanport, New Jersey
On average, Section 8 Housing Choice vouchers pay Oceanport landlords $1,000 per month towards rent. The average voucher holder contributes $400 towards rent in Oceanport.
The maximum amount a voucher would pay on behalf of a low-income tenant in Oceanport, New Jersey for a two-bedroom apartment is between $1,724 and $2,108.
Sourced from federal housing data and AffordableHousingOnline.com research.