Affordable Housing In Malone
Franklin County, New York

9 Low Income Apartment Communities In Malone

Valley Ridge Manor

14827 State Route 30
Malone, NY
62+
Accessible
Elderly Supportive Housing
Subsidized

Indian Trails Apartments

231 Spring Flower Dr
Malone, NY
Subsidized

Indian Trails II

166 Falling Leaf Dr
Malone, NY
Subsidized

Windmill Estates

51 Windmill Ln
Malone, NY
HCV Welcome

Elm Manor Riverside Haven

59 Sawyer Ave
Malone, NY

Malone Apartments

15 L Esperance Ln
Malone, NY
HCV Welcome

Malone Phase IIi

27 Countryside Ln
Malone, NY
HCV Welcome

Maple Ridge Apartments

70 Sawyer Ave
Malone, NY
HCV Welcome

Lesperance Housing Project

26 L Esperance Ln
Malone, NY
HCV Welcome
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Housing Authorities that serve Malone

Housing Authority Programs
Malone Housing Authority Public Housing

Guide To Affordable Housing in Malone, New York

According to federal housing data and AffordableHousingOnline.com research, there are 9 low income housing apartment communities offering 411 affordable apartments for rent in Malone, New York. Malone features 323 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 88 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Malone.

Malone, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 9
Total Low Income Apartments 411
Total Housing Units with Rental Assistance 323
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

Malone is a City in Franklin 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 Malone are renters.

Income and Rent Overburden in Malone

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

Area Median Income In Malone

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 Malone, the AMI is calculated from all households within Franklin County.

In Malone, HUD calculates the Area Median Income for a family of four as $62,900

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 Malone

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 Malone HUD Rental Assistance in Malone

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,900 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,200 $26,500 $29,800 $33,100 $35,750 $38,400 $41,050 $43,700
80% of Median $37,100 $42,400 $47,700 $52,950 $57,200 $61,450 $65,700 $69,900
Low Income Housing Tax Credits in Malone

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

From 1988 to 2008, 5 low income apartment communities containing 88 rental apartments have been constructed and made affordable to low income persons in Malone 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 Malone

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,200 $26,500 $29,800 $33,100 $35,750 $38,400 $41,050 $43,700
60% of Median $27,840 $31,800 $35,760 $39,720 $42,900 $46,080 $49,260 $52,440

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 Malone is $35,760 a year, or $2,980 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,980 by 30% to get a maximum rent of $894 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% $580 $621 $745 $861 $960 $1,059
60% $696 $746 $894 $1,033 $1,152 $1,271
Fair Market Rents in Malone

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
$533 $652 $744 $993 $1,008