How many renters live in Philmont, New York?
The City of Philmont has 1,559 people living in 559 households.
There are 534 renters living in 233 renter households in this City. Renters make up 34.25 percent of the population living in Philmont.
What is the rental market like in Philmont, New York?
There are an estimated 698 housing units in the Philmont area. Of these, 244 units are rental homes, making up 35 percent of the housing market. For every renter household in Philmont, New York, there are 1 rental units.
What is the vacancy rate for rentals in Philmont?
The rental vacancy rate in Philmont is 5 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 Philmont for each bedroom size?
Occupied Rental Units by Size in Philmont
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 19 | 37 | 111 | 25 | 41 |
Occupied Rental Units by Size in Philmont
A large number of apartments in Philmont 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 Philmont are overburdened by housing costs?
Among renter households in this market, 37 percent have housing cost burden. Further, 21 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 Philmont
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,032 to $1,585. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,032 |
| One BR | $1,042 |
| Two BR | $1,190 |
| Three BR | $1,439 |
| Four BR | $1,585 |
2024 Fair Market Rents in Philmont, New York
How many units are rented at Fair Market Rent (FMR) in Philmont?
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 |
| Studio | 19 | 100 percent |
| One BR | 37 | 100 percent |
| Two BR | 70 | 63 percent |
Rental Units Below FMR in Philmont, New York
How many affordable rental units are in Philmont?
There are a variety of federal affordable housing programs serving households in Philmont, New York including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 56 |
| USDA Section 515 Rural Rental Housing | 32 |
Tracked Units by Federal Program in Philmont, New York
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Philmont, New York
Philmont 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 Philmont, New York
There are 61 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Philmont.
Housing Choice Vouchers in Philmont, New York
On average, Section 8 Housing Choice vouchers pay Philmont landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Philmont.
The maximum amount a voucher would pay on behalf of a low-income tenant in Philmont, New York for a two-bedroom apartment is between $1,071 and $1,309.
Sourced from federal housing data and AffordableHousingOnline.com research.
