What HUD offices serve Spring Lake, 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.
Go to the New Jersey Public Housing and Low-Income Apartments Waiting Lists page for openings near Spring Lake.
How many renters live in Spring Lake, New Jersey?
The City of Spring Lake has people living in households.
There are renters living in renter households in this City. Renters make up 9.07 percent of the population living in Spring Lake.
What is the rental market like in Spring Lake, New Jersey?
There are an estimated housing units in the Spring Lake area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Spring Lake, New Jersey, there are 1.25 rental units.
What is the vacancy rate for rentals in Spring Lake?
The rental vacancy rate in Spring Lake is 20 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Spring Lake for each bedroom size?
Occupied Rental Units by Size in Spring Lake
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 20 | 20 | 17 | 28 | 42 |
Occupied Rental Units by Size in Spring Lake
A large number of apartments in Spring Lake have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Spring Lake
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 Spring Lake, New Jersey
How many units are rented at Fair Market Rent (FMR) in Spring Lake?
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 | 9 | 45 percent |
| One BR | 0 | 100 percent |
| Two BR | 0 | 100 percent |
Rental Units Below FMR in Spring Lake, New Jersey
How many affordable rental units are in Spring Lake?
There are a variety of federal affordable housing programs serving households in Spring Lake, New Jersey including the following:
| Federal Program | Unit Count |
| Section 202 Supportive Housing for the Elderly |
Tracked Units by Federal Program in Spring Lake, New Jersey
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Spring Lake, New Jersey
Spring Lake 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 Spring Lake, New Jersey
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Spring Lake.
Housing Choice Vouchers in Spring Lake, New Jersey
On average, Section 8 Housing Choice vouchers pay Spring Lake landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Spring Lake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Spring Lake, New Jersey for a two-bedroom apartment is between $1,724 and $2,108.
Sourced from federal housing data and AffordableHousingOnline.com research.