Affordable Housing In Paterson
Passaic County, New Jersey

46 Low Income Apartment Communities In Paterson

Rising Dove Senior Apartments

72 Carroll St
Paterson, NJ
Call For Rent
1 BR
62+
Accessible
Elderly Supportive Housing
Subsidized

Freedom Village

69 Straight Street
Paterson, NJ
$1098
1 BR
HCV Welcome

Triangle Village

85 Paterson St
Paterson, NJ
Subsidized

Riese Madison Park

70 Dey St
Paterson, NJ
Subsidized

Gov Paterson Towers II

195 20th Ave
Paterson, NJ
62+
Accessible
Elderly Supportive Housing
Subsidized

Aspen Hamilton Apartments

280 12th Ave
Paterson, NJ
Subsidized

Essex Phoenix Mills

24 Mill St
Paterson, NJ
Subsidized

Harborside II Independent Livi

9 Timothy St
Paterson, NJ
Accessible
Disabled Supportive Housing
Subsidized

Jay Sullivan Court

700 E 18th St
Paterson, NJ
Subsidized

Gov Paterson Towers I

225 20th Ave
Paterson, NJ
62+
Accessible
Elderly Supportive Housing
Subsidized

Housing Authorities that serve Paterson

Housing Authority Programs
Housing Authority of the City of Paterson Section 8 Housing Choice Voucher (HCV); Public Housing
Housing Authority of the City of Paterson Section 8 Housing Choice Voucher (HCV)
State of New Jersey Department of Community Affairs Section 8 Housing Choice Voucher (HCV)

Other Housing Authorities located in Paterson

Housing Authority Programs
Passaic County Housing Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Paterson, New Jersey

According to federal housing data and AffordableHousingOnline.com research, there are 46 low income housing apartment communities offering 3,998 affordable apartments for rent in Paterson, New Jersey. Paterson features 2,932 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 1,066 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Paterson.

Paterson, NJ Affordable Housing Snapshot

Total Affordable Apartment Properties 46
Total Low Income Apartments 3,998
Total Housing Units with Rental Assistance 2,932
Percentage of Housing Units Occupied By Renters 73.49%
Average Renter Household Size 3.19
Average Household Size 3.36
Median Household Income $32,915 ±$1,388
Median Rent $1,112 ±$14
Percentage Of Renters Overburdened 62.24% ± 2.23pp
Total Population 146,987

Population and Household Demographics

Paterson is a City in Passaic County, New Jersey with a population of 146,987. There are 43,037 households in the city with an average household size of 3.36 persons. 73.49% of households in Paterson are renters.

Income and Rent Overburden in Paterson

The median gross income for households in Paterson is $32,915 a year, or $2,743 a month. The median rent for the city is $1,112 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Paterson, a household making less than $3,707 a month would be considered overburdened when renting an apartment at or above the median rent. 62.24% of households who rent are overburdened in Paterson.1

Area Median Income In Paterson

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 Paterson, the AMI is calculated from all households within Passaic County.

In Paterson, HUD calculates the Area Median Income for a family of four as $106,600

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 Paterson

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 Paterson HUD Rental Assistance in Paterson

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $22,400 $25,600 $28,800 $32,000 $34,600 $37,150 $39,700 $43,430
50% of Median $37,350 $42,650 $48,000 $53,300 $57,600 $61,850 $66,100 $70,400
80% of Median $52,850 $60,400 $67,950 $75,500 $81,550 $87,600 $93,650 $99,700
Low Income Housing Tax Credits in Paterson

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1993 to 2011, 20 low income apartment communities containing 1,076 rental apartments have been constructed and made affordable to low income persons in Paterson by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Paterson

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $37,350 $42,650 $48,000 $53,300 $57,600 $61,850 $66,100 $70,400
60% of Median $44,820 $51,180 $57,600 $63,960 $69,120 $74,220 $79,320 $84,480

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Paterson is $57,600 a year, or $4,800 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $4,800 by 30% to get a maximum rent of $1,440 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $934 $1,000 $1,200 $1,386 $1,546 $1,706
60% $1,121 $1,200 $1,440 $1,664 $1,856 $2,048
Fair Market Rents in Paterson

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
$1,151 $1,377 $1,623 $2,023 $2,481