Affordable Housing In Wayne
Passaic County, New Jersey

5 Low Income Apartment Communities In Wayne

Wayne Group Home

350 Oldham Rd
Wayne, NJ
62+
Accessible
Elderly Supportive Housing
Subsidized

Siena Village at Wayne 346

1000 Siena Vlg
Wayne, NJ
HCV Welcome

Preakness Commons

1111 Chatham Ct
Wayne, NJ
HCV Welcome

Summer Hill Apartments

2100 Summerhill Rd
Wayne, NJ
HCV Welcome
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Housing Authorities that serve Wayne

Housing Authority Programs
Passaic County Housing Authority 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 Wayne, New Jersey

According to federal housing data and AffordableHousingOnline.com research, there are 5 low income housing apartment communities offering 759 affordable apartments for rent in Wayne, New Jersey. Wayne features 8 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 751 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Wayne.

Wayne, NJ Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 759
Total Housing Units with Rental Assistance 8
Percentage of Housing Units Occupied By Renters %
Average Renter Household Size 0.00
Average Household Size 0.00
Median Household Income $0 ±$0
Median Rent $0 ±$0
Total Population 0

Population and Household Demographics

Wayne is a City in Passaic County, New Jersey with a population of 0. There are 0 households in the city with an average household size of 0.00 persons. % of households in Wayne are renters.

Income and Rent Overburden in Wayne

The median gross income for households in Wayne is $0 a year, or $0 a month. The median rent for the city is $0 a month.

Area Median Income In Wayne

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 Wayne, the AMI is calculated from all households within Passaic County.

In Wayne, HUD calculates the Area Median Income for a family of four as $106,600

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 Wayne

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 Wayne HUD Rental Assistance in Wayne

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $22,400 $25,600 $28,800 $32,000 $34,600 $37,150 $39,700 $43,430
50% of Median $37,350 $42,650 $48,000 $53,300 $57,600 $61,850 $66,100 $70,400
80% of Median $52,850 $60,400 $67,950 $75,500 $81,550 $87,600 $93,650 $99,700
Low Income Housing Tax Credits in Wayne

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1995 to 1998, 3 low income apartment communities containing 511 rental apartments have been constructed and made affordable to low income persons in Wayne by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Wayne

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $37,350 $42,650 $48,000 $53,300 $57,600 $61,850 $66,100 $70,400
60% of Median $44,820 $51,180 $57,600 $63,960 $69,120 $74,220 $79,320 $84,480

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Wayne is $57,600 a year, or $4,800 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $4,800 by 30% to get a maximum rent of $1,440 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $934 $1,000 $1,200 $1,386 $1,546 $1,706
60% $1,121 $1,200 $1,440 $1,664 $1,856 $2,048
Fair Market Rents in Wayne

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$1,151 $1,377 $1,623 $2,023 $2,481