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Affordable Housing In Putnam Lake
Putnam County, New York

Housing Authorities that serve Putnam Lake

Housing Authority Programs
Putnam County Housing Corporation -

Guide To Affordable Housing in Putnam Lake, New York

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Putnam Lake, New York.

Income Based Apartments in Putnam Lake, New York

Putnam Lake 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 Putnam Lake, New York

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

Housing Choice Vouchers in Putnam Lake, New York

On average, Section 8 Housing Choice vouchers pay Putnam Lake landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in Putnam Lake.

The maximum amount a voucher would pay on behalf of a low-income tenant in Putnam Lake, New York for a two-bedroom apartment is between $1,848 and $2,258.

2021 Putnam Lake, 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
Putnam Lake, New York Fair Market Rent $1,760 $1,801 $2,053 $2,598 $2,784
Putnam Lake, New York Payment Standard Range $1,584 to $1,936 $1,621 to $1,981 $1,848 to $2,258 $2,338 to $2,858 $2,506 to $3,062

Sourced from federal housing data and AffordableHousingOnline.com research.

Putnam Lake, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 13.89%
Average Renter Household Size 1.59
Average Household Size 2.69
Median Household Income $82,083 ±$12,466
Median Rent $1,400 ±$761
Percentage Of Renters Overburdened 67.35% ± 24.06pp
Total Population 3,877

Population and Household Demographics

Putnam Lake is a city in Putnam County, New York with a population of 3,877. There are 1,411 households in the city with an average household size of 2.69 persons. 13.89% of households in Putnam Lake are renters.

Income and Rent Overburden in Putnam Lake

The median gross income for households in Putnam Lake is $82,083 a year, or $6,840 a month. The median rent for the city is $1,400 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Putnam Lake, a household making less than $4,667 a month would be considered overburdened when renting an apartment at or above the median rent. 67.35% of households who rent are overburdened in Putnam Lake.

Area Median Income In Putnam Lake

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

In Putnam Lake, HUD calculates the Area Median Income for a family of four as $78,700

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 Putnam Lake

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 Putnam Lake

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Putnam Lake AMI may qualify for rental assistance programs that target Extremely Low Income households.
$23,900 $27,300 $30,700 $34,100 $36,850 $39,600 $42,300 $45,050
50% AMI Income Limits
Renters earning up to 50% of the Putnam Lake AMI may qualify for rental assistance programs that target Very Low Income households.
$39,800 $45,500 $51,200 $56,850 $61,400 $65,950 $70,500 $75,050
80% AMI Income Limits
Renters earning up to 80% of the Putnam Lake AMI may qualify for rental assistance programs that target Low Income households.
$63,700 $72,800 $81,900 $90,950 $98,250 $105,550 $112,800 $120,100