Affordable Housing In New Milford
Housing Authorities that serve New Milford
|Susquehanna County Housing and Redevelopment Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in New Milford, Pennsylvania
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in New Milford, Pennsylvania.
Income Based Apartments in New Milford, Pennsylvania
New Milford 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 New Milford, Pennsylvania
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Milford.
Housing Choice Vouchers in New Milford, Pennsylvania
On average, Section 8 Housing Choice vouchers pay New Milford landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in New Milford.
The maximum amount a voucher would pay on behalf of a low-income tenant in New Milford, Pennsylvania for a two-bedroom apartment is between $703 and $859.
2021 New Milford, Pennsylvania 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|
|New Milford, Pennsylvania Fair Market Rent||$515||$600||$781||$1,023||$1,159|
|New Milford, Pennsylvania Payment Standard Range||$464 to $567||$540 to $660||$703 to $859||$921 to $1,125||$1,043 to $1,275|
Sourced from federal housing data and AffordableHousingOnline.com research.
New Milford, PA 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||33.24%|
|Average Renter Household Size||2.44|
|Average Household Size||2.39|
|Median Household Income||$45,536 ±$7,172|
|Median Rent||$788 ±$35|
|Percentage Of Renters Overburdened||46.77% ± 17.46pp|
Population and Household Demographics
New Milford is a city in Susquehanna County, Pennsylvania with a population of 891. There are 373 households in the city with an average household size of 2.39 persons. 33.24% of households in New Milford are renters.
Income and Rent Overburden in New Milford
The median gross income for households in New Milford is $45,536 a year, or $3,795 a month. The median rent for the city is $788 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In New Milford, a household making less than $2,627 a month would be considered overburdened when renting an apartment at or above the median rent. 46.77% of households who rent are overburdened in New Milford.
Area Median Income In New Milford
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 New Milford, the AMI is calculated from all households within Susquehanna County.
In New Milford, HUD calculates the Area Median Income for a family of four as $66,700
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 New Milford
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 New Milford
|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 New Milford AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the New Milford AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the New Milford AMI may qualify for rental assistance programs that target Low Income households.