Affordable Housing In Binghamton
Broome County,
New York
20 Low Income Apartment Communities In Binghamton
Lincoln Court Apartments
Metro Plaza Apartments
Broome County
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.
Income Based Apartments in Binghamton, New York
Binghamton features 1,045 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 Binghamton, New York
There are 219 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Binghamton.
Housing Choice Vouchers in Binghamton, New York
On average, Section 8 Housing Choice vouchers pay Binghamton landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Binghamton.
The maximum amount a voucher would pay on behalf of a low-income tenant in Binghamton, New York for a two-bedroom apartment is between $738 and $902.
2020 Binghamton, New York 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 | $606 | $634 | $820 | $1,070 | $1,224 |
| Payment Standard Range | $545 to $667 | $571 to $697 | $738 to $902 | $963 to $1,177 | $1,102 to $1,346 |
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 $76,900
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 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 | $16,000 | $18,300 | $21,720 | $26,200 | $30,680 | $35,160 | $39,640 | $44,120 |
| 50% of Median | $26,650 | $30,450 | $34,250 | $38,050 | $41,100 | $44,150 | $47,200 | $50,250 |
| 80% of Median | $42,600 | $48,700 | $54,800 | $60,850 | $65,750 | $70,600 | $75,500 | $80,350 |
