Affordable Housing In Ravena
Albany County, New York

3 Low Income Apartment Communities In Ravena

Civill Senior Housing

8 Civill Ave
Ravena, New York

Louis Apartments

1 Louis Dr
Ravena, New York

Ravena Sr Hsg

1 Orchard Avenue
Ravena, New York
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Guide To Affordable Housing in Ravena, New York

There are 3 low income housing apartment communities offering 76 affordable apartments for rent in Ravena, New York.

Income Based Apartments in Ravena, New York

Ravena 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 Ravena, New York

There are 76 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ravena.

Housing Choice Vouchers in Ravena, New York

On average, Section 8 Housing Choice vouchers pay Ravena landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Ravena.

The maximum amount a voucher would pay on behalf of a low-income tenant in Ravena, New York for a two-bedroom apartment is between $1,086 and $1,328.

2022 Ravena, 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
Ravena, New York Fair Market Rent $890 $991 $1,207 $1,492 $1,637
Ravena, New York Payment Standard Range $801 to $979 $892 to $1,090 $1,086 to $1,328 $1,343 to $1,641 $1,473 to $1,801

Sourced from federal housing data and AffordableHousingOnline.com research.

Ravena, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 76
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 40.26%
Average Renter Household Size 1.89
Average Household Size 2.33
Median Household Income $48,895 ±$4,672
Median Rent $860 ±$51
Percentage Of Renters Overburdened 61.31% ± 20.82pp
Total Population 3,289

Population and Household Demographics

Ravena is a city in Albany County, New York with a population of 3,289. There are 1,406 households in the city with an average household size of 2.33 persons. 40.26% of households in Ravena are renters.

Income and Rent Overburden in Ravena

The median gross income for households in Ravena is $48,895 a year, or $4,075 a month. The median rent for the city is $860 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ravena, a household making less than $2,867 a month would be considered overburdened when renting an apartment at or above the median rent. 61.31% of households who rent are overburdened in Ravena.

Area Median Income In Ravena

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 Ravena, the AMI is calculated from all households within Albany County.

In Ravena, HUD calculates the Area Median Income for a family of four as $95,600

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 Ravena

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 Ravena

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 Ravena AMI may qualify for rental assistance programs that target Extremely Low Income households.
$20,100 $23,000 $25,850 $28,700 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Ravena AMI may qualify for rental assistance programs that target Very Low Income households.
$33,500 $38,250 $43,050 $47,800 $51,650 $55,450 $59,300 $63,100
80% AMI Income Limits
Renters earning up to 80% of the Ravena AMI may qualify for rental assistance programs that target Low Income households.
$53,550 $61,200 $68,850 $76,500 $82,650 $88,750 $94,900 $101,000