Low Income Apartments and Affordable Housing For Rent in Port Monmouth, NJ

Discover affordable housing in Port Monmouth where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Bayshore Village

100 Shoal Harbor Court, Port Monmouth, New Jersey 07758

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Port Monmouth, New Jersey
$36.29/hour
$22.56 (+164%) more than New Jersey minimum wage and $29.04 (+401%) more than the Federal minimum wage.
Learn More About Port Monmouth, New Jersey Affordable Housing ↓

What HUD offices serve Port Monmouth, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Port Monmouth, New Jersey.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Port Monmouth, New Jersey.

Go to the New Jersey Public Housing and Low-Income Apartments Waiting Lists page for openings near Port Monmouth.

How many renters live in Port Monmouth, New Jersey?

The City of Port Monmouth has 3,173 people living in 1,303 households.

There are 431 renters living in 283 renter households in this City. Renters make up 13.58 percent of the population living in Port Monmouth.

What is the rental market like in Port Monmouth, New Jersey?

There are an estimated 1,413 housing units in the Port Monmouth area. Of these, 283 units are rental homes, making up 20 percent of the housing market. For every renter household in Port Monmouth, New Jersey, there are 1 rental units.

What is the vacancy rate for rentals in Port Monmouth?

The rental vacancy rate in Port Monmouth 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 Port Monmouth for each bedroom size?

Occupied Rental Units by Size in Port Monmouth
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 213 15 44 0
Occupied Rental Units by Size in Port Monmouth

A large number of apartments in Port Monmouth 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 Port Monmouth are overburdened by housing costs?

Among renter households in this market, 83 percent have housing cost burden. Further, 35 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 Port Monmouth

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 Port Monmouth, New Jersey

How many units are rented at Fair Market Rent (FMR) in Port Monmouth?

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 213 100 percent
Two BR 0 100 percent
Rental Units Below FMR in Port Monmouth, New Jersey

How many affordable rental units are in Port Monmouth?

There are a variety of federal affordable housing programs serving households in Port Monmouth, New Jersey including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 109
Tracked Units by Federal Program in Port Monmouth, New Jersey

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Port Monmouth, New Jersey

Port Monmouth 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 Port Monmouth, New Jersey

There are 217 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Port Monmouth.

Housing Choice Vouchers in Port Monmouth, New Jersey

On average, Section 8 Housing Choice vouchers pay Port Monmouth landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Port Monmouth.

The maximum amount a voucher would pay on behalf of a low-income tenant in Port Monmouth, New Jersey for a two-bedroom apartment is between $1,724 and $2,108.

Sourced from federal housing data and AffordableHousingOnline.com research.