How many renters live in Conneaut Lake, Pennsylvania?
The City of Conneaut Lake has 510 people living in 239 households.
There are 186 renters living in 98 renter households in this City. Renters make up 36.47 percent of the population living in Conneaut Lake.
What is the rental market like in Conneaut Lake, Pennsylvania?
There are an estimated 277 housing units in the Conneaut Lake area. Of these, 108 units are rental homes, making up 39 percent of the housing market. For every renter household in Conneaut Lake, Pennsylvania, there are 1 rental units.
What is the vacancy rate for rentals in Conneaut Lake?
The rental vacancy rate in Conneaut Lake is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Conneaut Lake for each bedroom size?
Occupied Rental Units by Size in Conneaut Lake
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 12 | 15 | 50 | 21 | 0 |
Occupied Rental Units by Size in Conneaut Lake
A large number of apartments in Conneaut Lake 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 Conneaut Lake are overburdened by housing costs?
Among renter households in this market, 48 percent have housing cost burden. Further, 18 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 Conneaut Lake
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $631 to $1,274. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $631 |
| One BR | $651 |
| Two BR | $845 |
| Three BR | $1,083 |
| Four BR | $1,274 |
2024 Fair Market Rents in Conneaut Lake, Pennsylvania
How many units are rented at Fair Market Rent (FMR) in Conneaut Lake?
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 | 6 | 50 percent |
| One BR | 9 | 60 percent |
| Two BR | 24 | 48 percent |
Rental Units Below FMR in Conneaut Lake, Pennsylvania
How many affordable rental units are in Conneaut Lake?
There are a variety of federal affordable housing programs serving households in Conneaut Lake, Pennsylvania including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 40 |
Tracked Units by Federal Program in Conneaut Lake, Pennsylvania
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Conneaut Lake, Pennsylvania
Conneaut 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 Conneaut Lake, Pennsylvania
There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Conneaut Lake.
Housing Choice Vouchers in Conneaut Lake, Pennsylvania
On average, Section 8 Housing Choice vouchers pay Conneaut Lake landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Conneaut Lake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Conneaut Lake, Pennsylvania for a two-bedroom apartment is between $761 and $930.
Sourced from federal housing data and AffordableHousingOnline.com research.
