How many renters live in Palatine Bridge, New York?
The City of Palatine Bridge has 701 people living in 341 households.
There are 171 renters living in 142 renter households in this City. Renters make up 24.39 percent of the population living in Palatine Bridge.
What is the rental market like in Palatine Bridge, New York?
There are an estimated 393 housing units in the Palatine Bridge area. Of these, 154 units are rental homes, making up 39 percent of the housing market. For every renter household in Palatine Bridge, New York, there are 1 rental units.
What is the vacancy rate for rentals in Palatine Bridge?
The rental vacancy rate in Palatine Bridge is 4 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Palatine Bridge for each bedroom size?
Occupied Rental Units by Size in Palatine Bridge
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 109 | 19 | 14 | 0 |
Occupied Rental Units by Size in Palatine Bridge
A large number of apartments in Palatine Bridge 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 Palatine Bridge are overburdened by housing costs?
Among renter households in this market, 23 percent have housing cost burden. Further, 8 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 Palatine Bridge
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $745 to $1,251. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $745 |
| One BR | $780 |
| Two BR | $914 |
| Three BR | $1,166 |
| Four BR | $1,251 |
2024 Fair Market Rents in Palatine Bridge, New York
How many units are rented at Fair Market Rent (FMR) in Palatine Bridge?
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 | 106 | 97 percent |
| Two BR | 14 | 74 percent |
Rental Units Below FMR in Palatine Bridge, New York
How many affordable rental units are in Palatine Bridge?
There are a variety of federal affordable housing programs serving households in Palatine Bridge, New York including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 32 |
| Section 202 Supportive Housing for the Elderly | 23 |
| USDA Section 515 Rural Rental Housing | 32 |
Tracked Units by Federal Program in Palatine Bridge, New York
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Palatine Bridge, New York
Palatine Bridge features 56 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 Palatine Bridge, New York
There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Palatine Bridge.
Housing Choice Vouchers in Palatine Bridge, New York
On average, Section 8 Housing Choice vouchers pay Palatine Bridge landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Palatine Bridge.
The maximum amount a voucher would pay on behalf of a low-income tenant in Palatine Bridge, New York for a two-bedroom apartment is between $823 and $1,005.
Sourced from federal housing data and AffordableHousingOnline.com research.
