Affordable Housing In Silver Ridge
Ocean County, New Jersey

Section 8 Vouchers, Apartments, and Waiting Lists in Silver Ridge, 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.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Silver Ridge, New Jersey

Housing Authority Programs
State of New Jersey Department of Community Affairs Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Silver Ridge, New Jersey

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Silver Ridge, New Jersey.

Income Based Apartments in Silver Ridge, New Jersey

Silver Ridge 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 Silver Ridge, New Jersey

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

Housing Choice Vouchers in Silver Ridge, New Jersey

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Silver Ridge, New Jersey for a two-bedroom apartment is between $1,402 and $1,714.

2022 Silver Ridge, New Jersey Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Silver Ridge, New Jersey Fair Market Rent $1,092 $1,230 $1,558 $2,142 $2,374
Silver Ridge, New Jersey Payment Standard Range $983 to $1,201 $1,107 to $1,353 $1,402 to $1,714 $1,928 to $2,356 $2,137 to $2,611

Sourced from federal housing data and AffordableHousingOnline.com research.

Silver Ridge, NJ Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 13.29%
Average Renter Household Size 1.55
Average Household Size 1.57
Median Household Income $34,286 ±$4,117
Median Rent $1,090 ±$101
Percentage Of Renters Overburdened 42.73% ± 18.33pp
Total Population 1,299

Population and Household Demographics

Silver Ridge is a city in Ocean County, New Jersey with a population of 1,299. There are 828 households in the city with an average household size of 1.57 persons. 13.29% of households in Silver Ridge are renters.

Income and Rent Overburden in Silver Ridge

The median gross income for households in Silver Ridge is $34,286 a year, or $2,857 a month. The median rent for the city is $1,090 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Silver Ridge, a household making less than $3,633 a month would be considered overburdened when renting an apartment at or above the median rent. 42.73% of households who rent are overburdened in Silver Ridge.

Area Median Income In Silver Ridge

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 Silver Ridge, the AMI is calculated from all households within Ocean County.

In Silver Ridge, HUD calculates the Area Median Income for a family of four as $108,900

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 Silver Ridge

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 HUD Rental Assistance in Silver Ridge

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Silver Ridge AMI may qualify for rental assistance programs that target Extremely Low Income households.
$22,900 $26,150 $29,400 $32,650 $35,300 $37,900 $40,500 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Silver Ridge AMI may qualify for rental assistance programs that target Very Low Income households.
$38,150 $43,600 $49,050 $54,450 $58,850 $63,200 $67,550 $71,900
80% AMI Income Limits
Renters earning up to 80% of the Silver Ridge AMI may qualify for rental assistance programs that target Low Income households.
$55,950 $63,950 $71,950 $79,900 $86,300 $92,700 $99,100 $105,500