What HUD offices serve Elverson, Pennsylvania?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Pennsylvania Public Housing and Low-Income Apartments Waiting Lists page for openings near Elverson.
How many renters live in Elverson, Pennsylvania?
The City of Elverson has 1,365 people living in 626 households.
There are 204 renters living in 138 renter households in this City. Renters make up 14.95 percent of the population living in Elverson.
What is the rental market like in Elverson, Pennsylvania?
There are an estimated 649 housing units in the Elverson area. Of these, 147 units are rental homes, making up 23 percent of the housing market. For every renter household in Elverson, Pennsylvania, there are 1 rental units.
What is the vacancy rate for rentals in Elverson?
The rental vacancy rate in Elverson is 6 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 Elverson for each bedroom size?
Occupied Rental Units by Size in Elverson
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 3 | 95 | 15 | 14 | 11 |
Occupied Rental Units by Size in Elverson
A large number of apartments in Elverson 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 Elverson are overburdened by housing costs?
Among renter households in this market, 54 percent have housing cost burden. Further, 38 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 Elverson
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,303 to $2,422. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,303 |
| One BR | $1,451 |
| Two BR | $1,737 |
| Three BR | $2,100 |
| Four BR | $2,422 |
2024 Fair Market Rents in Elverson, Pennsylvania
How many units are rented at Fair Market Rent (FMR) in Elverson?
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 | 3 | 100 percent |
| One BR | 89 | 94 percent |
| Two BR | 15 | 100 percent |
Rental Units Below FMR in Elverson, Pennsylvania
How many affordable rental units are in Elverson?
There are a variety of federal affordable housing programs serving households in Elverson, Pennsylvania including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 71 |
Tracked Units by Federal Program in Elverson, Pennsylvania
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Elverson, Pennsylvania
Elverson 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 Elverson, Pennsylvania
There are 71 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Elverson.
Housing Choice Vouchers in Elverson, Pennsylvania
On average, Section 8 Housing Choice vouchers pay Elverson landlords $800 per month towards rent. The average voucher holder contributes $400 towards rent in Elverson.
The maximum amount a voucher would pay on behalf of a low-income tenant in Elverson, Pennsylvania for a two-bedroom apartment is between $1,563 and $1,911.
Sourced from federal housing data and AffordableHousingOnline.com research.
