Low Income Apartments and Affordable Housing For Rent in Somerset, NJ

Discover affordable housing in Somerset where there are 15+ 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.

Franklin Township Consumer Home

30 Cedar Grove Ln, Somerset, New Jersey 08873

Somerset Consumer Home

30 Cedar Ave, Somerset, New Jersey 8873

Presbyterian HomeatFranklin Twp

26B Cedar Grove Lane, Somerset, New Jersey 0

Somerset 2003 Consumer Home

151 Dutton St, Somerset, New Jersey 8873

Somerset Square

1 Shepherd St, Somerset, New Jersey 08873

Berry Street Commons

42 Berry St, Somerset, New Jersey 08873

Hidden Brook at Franklin

1 Bob Franks Way, Somerset, New Jersey 08873

Center for Great Expectations - Supportive Housing

19 Dellwood Ln, Somerset, New Jersey 08873

The Lena and David T. Wilentz Senior Residence

360 Demott Ln, Somerset, New Jersey 08873

Parkside Senior Housng

25 Parkside St, Somerset, New Jersey 8873

Parkside Senior Housing

3 Parkside St, Somerset, New Jersey 08873

Vorhees Staton

727 Franklin Blvd, Somerset, New Jersey 8873

Parkside Family Housing

10 Parkside St, Somerset, New Jersey 08873

Parkside Family Housing

131 Mark St, Somerset, New Jersey 08873

Franklin Blvd. Commons Urban Renewal Assoc.

721 Franklin Blvd, Somerset, New Jersey 8873

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Somerset, New Jersey
$43.11/hour
$29.38 (+214%) more than New Jersey minimum wage and $35.86 (+495%) more than the Federal minimum wage.
Learn More About Somerset, New Jersey Affordable Housing ↓

What HUD offices serve Somerset, 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), Public Housing programs for Somerset, New Jersey.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Somerset, New Jersey.

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

How many renters live in Somerset, New Jersey?

The City of Somerset has 24,246 people living in 9,981 households.

There are 5,436 renters living in 2,593 renter households in this City. Renters make up 22.42 percent of the population living in Somerset.

What is the rental market like in Somerset, New Jersey?

There are an estimated 10,333 housing units in the Somerset area. Of these, 2,693 units are rental homes, making up 26 percent of the housing market. For every renter household in Somerset, New Jersey, there are 1 rental units.

What is the vacancy rate for rentals in Somerset?

The rental vacancy rate in Somerset 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 Somerset for each bedroom size?

Occupied Rental Units by Size in Somerset
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
109 1,213 859 309 103
Occupied Rental Units by Size in Somerset

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

Among renter households in this market, 50 percent have housing cost burden. Further, 25 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 Somerset

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,608 to $3,031. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,608
One BR $1,807
Two BR $2,276
Three BR $2,756
Four BR $3,031
2024 Fair Market Rents in Somerset, New Jersey

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

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
Studio 18 17 percent
One BR 112 9 percent
Two BR 12 1 percent
Rental Units Below FMR in Somerset, New Jersey

How many affordable rental units are in Somerset?

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

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 100
Section 202 Supportive Housing for the Elderly 84
Section 811 Supportive Housing for Persons with Disabilities 3
Tracked Units by Federal Program in Somerset, New Jersey

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

Income Based Apartments in Somerset, New Jersey

Somerset features 352 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 Somerset, New Jersey

There are 463 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Somerset.

Housing Choice Vouchers in Somerset, New Jersey

On average, Section 8 Housing Choice vouchers pay Somerset landlords $1,100 per month towards rent. The average voucher holder contributes $600 towards rent in Somerset.

The maximum amount a voucher would pay on behalf of a low-income tenant in Somerset, New Jersey for a two-bedroom apartment is between $2,048 and $2,504.

Sourced from federal housing data and AffordableHousingOnline.com research.