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Affordable Housing In Lake Katrine
Ulster County, New York

1 Low Income Apartment Communities In Lake Katrine

Independent Living Apartments

78 Lake Rd
Lake Katrine, New York
Elderly Supportive Housing
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Housing Authorities that serve Lake Katrine

Housing Authority Programs
Rural Ulster Preservation Company Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Lake Katrine, New York

There are 1 low income housing apartment communities offering 8 affordable apartments for rent in Lake Katrine, New York.

Income Based Apartments in Lake Katrine, New York

Lake Katrine features 8 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 Lake Katrine, New York

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Katrine.

Housing Choice Vouchers in Lake Katrine, New York

On average, Section 8 Housing Choice vouchers pay Lake Katrine landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Lake Katrine.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Katrine, New York for a two-bedroom apartment is between $1,166 and $1,426.

2021 Lake Katrine, 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 $860 $1,020 $1,296 $1,685 $1,906
Payment Standard Range $774 to $946 $918 to $1,122 $1,166 to $1,426 $1,517 to $1,854 $1,715 to $2,097

Sourced from federal housing data and research.

Lake Katrine, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 8
Total Housing Units with Rental Assistance 8
Percentage of Housing Units Occupied By Renters 49.05%
Average Renter Household Size 2.08
Average Household Size 2.08
Median Household Income $31,250 ±$14,398
Median Rent $1,067 ±$87
Percentage Of Renters Overburdened 66.99% ± 19.95pp
Total Population 2,322

Population and Household Demographics

Lake Katrine is a city in Ulster County, New York with a population of 2,322. There are 846 households in the city with an average household size of 2.08 persons. 49.05% of households in Lake Katrine are renters.

Income and Rent Overburden in Lake Katrine

The median gross income for households in Lake Katrine is $31,250 a year, or $2,604 a month. The median rent for the city is $1,067 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lake Katrine, a household making less than $3,557 a month would be considered overburdened when renting an apartment at or above the median rent. 66.99% of households who rent are overburdened in Lake Katrine.

Area Median Income In Lake Katrine

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 Lake Katrine, the AMI is calculated from all households within Ulster County.

In Lake Katrine, HUD calculates the Area Median Income for a family of four as $83,700

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 Lake Katrine

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 Lake Katrine

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,600 $20,100 $22,600 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $29,300 $33,500 $37,700 $41,850 $45,200 $48,550 $51,900 $55,250
80% of Median $46,900 $53,600 $60,300 $66,950 $72,350 $77,700 $83,050 $88,400