Affordable Housing In South Amboy
3 Low Income Apartment Communities In South Amboy
Housing Authorities that serve South Amboy
|South Amboy Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
|Middlesex County Division of Housing and Social Services||Section 8 Housing Choice Voucher (HCV)|
|State of New Jersey Department of Community Affairs||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in South Amboy, New Jersey
There are 3 low income housing apartment communities offering 254 affordable apartments for rent in South Amboy, New Jersey.
Income Based Apartments in South Amboy, New Jersey
South Amboy features 152 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 South Amboy, New Jersey
There are 102 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in South Amboy.
Housing Choice Vouchers in South Amboy, New Jersey
On average, Section 8 Housing Choice vouchers pay South Amboy landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in South Amboy.
The maximum amount a voucher would pay on behalf of a low-income tenant in South Amboy, New Jersey for a two-bedroom apartment is between $1,593 and $1,947.
2020 South Amboy, 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|
|Fair Market Rent||$1,193||$1,382||$1,770||$2,228||$2,572|
|Payment Standard Range||$1,074 to $1,312||$1,244 to $1,520||$1,593 to $1,947||$2,005 to $2,451||$2,315 to $2,829|
Sourced from federal housing data and AffordableHousingOnline.com research.
South Amboy, NJ Affordable Housing Snapshot
|Total Affordable Apartment Properties||3|
|Total Low Income Apartments||254|
|Total Housing Units with Rental Assistance||152|
|Percentage of Housing Units Occupied By Renters||35.07%|
|Average Renter Household Size||1.88|
|Average Household Size||2.32|
|Median Household Income||$64,293 ±$21,810|
|Median Rent||$1,167 ±$120|
|Percentage Of Renters Overburdened||45.54% ± 13.78pp|
Population and Household Demographics
South Amboy is a city in Middlesex County, New Jersey with a population of 8,787. There are 3,775 households in the city with an average household size of 2.32 persons. 35.07% of households in South Amboy are renters.
Income and Rent Overburden in South Amboy
The median gross income for households in South Amboy is $64,293 a year, or $5,358 a month. The median rent for the city is $1,167 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In South Amboy, a household making less than $3,890 a month would be considered overburdened when renting an apartment at or above the median rent. 45.54% of households who rent are overburdened in South Amboy.
Area Median Income In South Amboy
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 South Amboy, the AMI is calculated from all households within Middlesex County.
In South Amboy, HUD calculates the Area Median Income for a family of four as $119,500
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 South Amboy
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 South Amboy
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$25,100||$28,700||$32,300||$35,850||$38,750||$41,600||$44,500||$47,350|
|50% of Median||$41,850||$47,800||$53,800||$59,750||$64,550||$69,350||$74,100||$78,900|
|80% of Median||$57,800||$66,050||$74,300||$82,550||$89,200||$95,800||$102,400||$109,000|