Affordable Housing In Binghamton
Broome County, New York

20 Low Income Apartment Communities In Binghamton

Woodburn Court II

100 Susquehanna St
Binghamton, NY
Call For Rent
1-3 BR
Subsidized

Woodburn Court

21 Exchange St
Binghamton, NY
Call For Rent
1 BR
Subsidized

Lincoln Court Apartments

21 New St
Binghamton, NY
62+
Accessible
Elderly Supportive Housing
Subsidized

Metro Plaza Apartments

110 Chenango Pl
Binghamton, NY
62+
Accessible
Elderly Supportive Housing
Subsidized

Broome County

316 Glenwood Rd
Binghamton, NY
Accessible
Disabled Supportive Housing
Subsidized

Town and Country Apartments

100 Roberts St
Binghamton, NY
Subsidized

Home Chdo Ofb

92 Carroll St
Binghamton, NY
HCV Welcome

Carlisle Hill

150 Moeller St
Binghamton, NY

North Shore Towers

45 Exchange St
Binghamton, NY

Home Fwac St Cyrils Apartments

St Cyrils School
Binghamton, NY
HCV Welcome

Housing Authorities that serve Binghamton

Housing Authority Programs
Binghamton Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Binghamton, New York

There are 20 low income housing apartment communities offering 1,264 affordable apartments for rent in Binghamton, New York. Binghamton features 1,045 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 219 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Binghamton.

Sourced from federal housing data and AffordableHousingOnline.com research.

Binghamton, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 20
Total Low Income Apartments 1,264
Total Housing Units with Rental Assistance 1,045
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

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

Income and Rent Overburden in Binghamton

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

Area Median Income In Binghamton

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 Binghamton, the AMI is calculated from all households within Broome County.

In Binghamton, HUD calculates the Area Median Income for a family of four as $70,500

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 Binghamton

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 Binghamton HUD Rental Assistance in Binghamton

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,850 $16,950 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,700 $28,200 $31,750 $35,250 $38,100 $40,900 $43,750 $46,550
80% of Median $39,500 $45,150 $50,800 $56,400 $60,950 $65,450 $69,950 $74,450
Low Income Housing Tax Credits in Binghamton

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

From 2000 to 2011, 8 low income apartment communities containing 188 rental apartments have been constructed and made affordable to low income persons in Binghamton 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 Binghamton

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $24,700 $28,200 $31,750 $35,250 $38,100 $40,900 $43,750 $46,550
60% of Median $29,640 $33,840 $38,100 $42,300 $45,720 $49,080 $52,500 $55,860

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 Binghamton is $38,100 a year, or $3,175 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,175 by 30% to get a maximum rent of $953 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% $618 $661 $794 $917 $1,023 $1,129
60% $741 $794 $953 $1,100 $1,227 $1,355
Fair Market Rents in Binghamton

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
$606 $634 $820 $1,070 $1,224