How many renters live in Minetto, New York?
The City of Minetto has 1,430 people living in 593 households.
There are 170 renters living in 86 renter households in this City. Renters make up 11.89 percent of the population living in Minetto.
What is the rental market like in Minetto, New York?
There are an estimated 633 housing units in the Minetto area. Of these, 102 units are rental homes, making up 16 percent of the housing market. For every renter household in Minetto, New York, there are 1 rental units.
What is the vacancy rate for rentals in Minetto?
The rental vacancy rate in Minetto is 16 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Minetto for each bedroom size?
Occupied Rental Units by Size in Minetto
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 41 | 16 | 27 | 0 |
Occupied Rental Units by Size in Minetto
A large number of apartments in Minetto have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Minetto are overburdened by housing costs?
Among renter households in this market, 38 percent have housing cost burden. Further, 6 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Minetto
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $828 to $1,600. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $828 |
| One BR | $916 |
| Two BR | $1,126 |
| Three BR | $1,381 |
| Four BR | $1,600 |
2024 Fair Market Rents in Minetto, New York
How many units are rented at Fair Market Rent (FMR) in Minetto?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| One BR | 26 | 63 percent |
| Two BR | 14 | 88 percent |
Rental Units Below FMR in Minetto, New York
How many affordable rental units are in Minetto?
There are a variety of federal affordable housing programs serving households in Minetto, New York including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 39 |
Tracked Units by Federal Program in Minetto, New York
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Minetto, New York
Minetto features 0 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 Minetto, New York
There are 39 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Minetto.
Housing Choice Vouchers in Minetto, New York
On average, Section 8 Housing Choice vouchers pay Minetto landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Minetto.
The maximum amount a voucher would pay on behalf of a low-income tenant in Minetto, New York for a two-bedroom apartment is between $1,013 and $1,239.
Sourced from federal housing data and AffordableHousingOnline.com research.
