Low Income Apartments and Affordable Housing For Rent in Princeton Junction, NJ

Discover affordable housing in Princeton Junction 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.

The Gables at West Windsor

996 Alexander Rd, Princeton Junction, New Jersey 8550

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Princeton Junction, New Jersey
$37.84/hour
$24.11 (+176%) more than New Jersey minimum wage and $30.59 (+422%) more than the Federal minimum wage.
Learn More About Princeton Junction, New Jersey Affordable Housing ↓

What HUD offices serve Princeton Junction, 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 Princeton Junction, New Jersey.

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

How many renters live in Princeton Junction, New Jersey?

The City of Princeton Junction has 2,022 people living in 841 households.

There are 323 renters living in 178 renter households in this City. Renters make up 15.97 percent of the population living in Princeton Junction.

What is the rental market like in Princeton Junction, New Jersey?

There are an estimated 971 housing units in the Princeton Junction area. Of these, 178 units are rental homes, making up 18 percent of the housing market. For every renter household in Princeton Junction, New Jersey, there are 1 rental units.

What is the vacancy rate for rentals in Princeton Junction?

The rental vacancy rate in Princeton Junction 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 Princeton Junction for each bedroom size?

Occupied Rental Units by Size in Princeton Junction
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 89 77 0 12
Occupied Rental Units by Size in Princeton Junction

A large number of apartments in Princeton Junction 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 Princeton Junction are overburdened by housing costs?

Among renter households in this market, 26 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 Princeton Junction

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,354 to $2,661. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,354
One BR $1,550
Two BR $1,998
Three BR $2,416
Four BR $2,661
2024 Fair Market Rents in Princeton Junction, New Jersey

How many units are rented at Fair Market Rent (FMR) in Princeton Junction?

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 70 79 percent
Two BR 48 62 percent
Rental Units Below FMR in Princeton Junction, New Jersey

How many affordable rental units are in Princeton Junction?

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

Federal Program Unit Count
Section 202 Supportive Housing for the Elderly 84
Tracked Units by Federal Program in Princeton Junction, New Jersey

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

Income Based Apartments in Princeton Junction, New Jersey

Princeton Junction features 85 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 Princeton Junction, New Jersey

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Princeton Junction.

Housing Choice Vouchers in Princeton Junction, New Jersey

On average, Section 8 Housing Choice vouchers pay Princeton Junction landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Princeton Junction.

The maximum amount a voucher would pay on behalf of a low-income tenant in Princeton Junction, New Jersey for a two-bedroom apartment is between $1,798 and $2,198.

Sourced from federal housing data and AffordableHousingOnline.com research.