Cheap Apartments In Riverhead
Suffolk County, New York

Low Income Apartments In Riverhead

John Wesley Village II

1400 Aldersgate
Riverhead, NY
$1099
1 BR
HCV Welcome

Henry Perkins House

260 W Main St
Riverhead, NY
Income Based
Studio BR
HCV Welcome

John Wesley Village II

1 Aldersgate
Riverhead, NY
HCV Welcome

Riverhead Village

821 E Main St
Riverhead, NY
Subsidized

Doctors Path Apartments

641 Doctors Path
Riverhead, NY
Subsidized

Tradewinds Village

1 Aldersgate
Riverhead, NY
62+
Accessible
Elderly Supportive Housing
Subsidized

Riverhead Landings II

1145 Middle Rd
Riverhead, NY
HCV Welcome
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There are 7 low income housing apartment complexes which contain 696 affordable apartments for rent in Riverhead, New York. Many of these rental apartments are income based housing with about 290 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 175 Project-Based Section 8 subsidized apartments in Riverhead. There are 581 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Riverhead

Housing Authority Programs
Riverhead Housing Development Corproration Section 8 Housing Choice Voucher

Understanding Affordable Housing in Riverhead, New York

Riverhead, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 7
Total Low Income Apartments 696
Total Rent Assisted Apartments 290
Percentage of Housing Units Occupied By Renters 40.77%
Average Renter Household Size 2.74
Total Population 14,258
Housing Units 5,011
Average Household Size 2.75
Median Household Income $52,876 ±$15,448
Median Rent $1,301 ±$96
Percentage Of Renters Overburdened 63.14% ± 15.74pp

Population and Household Demographics

Riverhead is a City in Suffolk County, New York with a population of 14,258. There are 5,011 households in the city with an average household size of 2.75 persons. 40.77% of households in Riverhead are renters.

Income and Rent Overburden in Riverhead

The median gross income for households in Riverhead is $52,876 a year, or $4,406 a month. The median rent for the city is $1,301 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Riverhead, a household making less than $4,337 a month would be considered overburdened when renting an apartment at or above the median rent. 63.14% of households who rent are overburdened in Riverhead.1

Data derived from 2010 Census and 2015 5-Year American Community Survey. Learn More.
1 Margin of Error: ± 15.74 percentage points.

Area Median Income In Riverhead

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 Riverhead, the AMI is calculated from all households within Suffolk County.

In Riverhead, HUD calculates the Area Median Income for a family of four as $116,700

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 Riverhead

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 Riverhead HUD Rental Assistance in Riverhead

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $24,500 $28,000 $31,500 $35,000 $37,800 $40,600 $43,400 $46,200
50% of Median $40,850 $46,700 $52,550 $58,350 $63,050 $67,700 $72,400 $77,050
80% of Median $61,350 $70,100 $78,850 $87,600 $94,650 $101,650 $108,650 $115,650

You can identify apartment communities that participate in a program that provides rental assistance by looking for the tags in the apartment list above. View Apartments.

Low Income Housing Tax Credits in Riverhead

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1999 to 2008, 6 low income apartment communities containing 581 rental apartments have been constructed and made affordable to low income persons in Riverhead by the Low Income Housing Tax Credit Program.

You can identify apartment communities that participate in the program in Riverhead by looking for the tag in the apartment list above. View Apartments.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Riverhead

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $40,850 $46,700 $52,550 $58,350 $63,050 $67,700 $72,400 $77,050
60% of Median $49,020 $56,040 $63,060 $70,020 $75,660 $81,240 $86,880 $92,460

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Riverhead is $63,060 a year, or $5,255 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $5,255 by 30% to get a maximum rent of $1,577 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $1,021 $1,094 $1,314 $1,518 $1,693 $1,868
60% $1,226 $1,313 $1,577 $1,821 $2,031 $2,242
Fair Market Rents in Riverhead

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$1,240 $1,548 $1,907 $2,460 $2,756