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Affordable Housing In Penn Lake Park
Luzerne County, Pennsylvania

Housing Authorities that serve Penn Lake Park

Housing Authority Programs
Housing Authority of Luzerne County Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Penn Lake Park, Pennsylvania

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Penn Lake Park, Pennsylvania.

Income Based Apartments in Penn Lake Park, Pennsylvania

Penn Lake Park 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 Penn Lake Park, Pennsylvania

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Penn Lake Park.

Housing Choice Vouchers in Penn Lake Park, Pennsylvania

On average, Section 8 Housing Choice vouchers pay Penn Lake Park landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Penn Lake Park.

The maximum amount a voucher would pay on behalf of a low-income tenant in Penn Lake Park, Pennsylvania for a two-bedroom apartment is between $723 and $883.

2020 Penn Lake Park, 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
Fair Market Rent $566 $657 $803 $1,040 $1,109
Payment Standard Range $509 to $623 $591 to $723 $723 to $883 $936 to $1,144 $998 to $1,220

Sourced from federal housing data and AffordableHousingOnline.com research.

Penn Lake Park, 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 11.68%
Average Renter Household Size 2.06
Average Household Size 2.12
Median Household Income $63,750 ±$15,557
Median Rent $1,375 ±$795
Percentage Of Renters Overburdened 12.5% ± 109.53pp
Total Population 291

Population and Household Demographics

Penn Lake Park is a city in Luzerne County, Pennsylvania with a population of 291. There are 137 households in the city with an average household size of 2.12 persons. 11.68% of households in Penn Lake Park are renters.

Income and Rent Overburden in Penn Lake Park

The median gross income for households in Penn Lake Park is $63,750 a year, or $5,313 a month. The median rent for the city is $1,375 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Penn Lake Park, a household making less than $4,583 a month would be considered overburdened when renting an apartment at or above the median rent. 12.5% of households who rent are overburdened in Penn Lake Park.

Area Median Income In Penn Lake Park

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 Penn Lake Park, the AMI is calculated from all households within Luzerne County.

In Penn Lake Park, HUD calculates the Area Median Income for a family of four as $71,700

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 Penn Lake Park

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 Penn Lake Park

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,050 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $25,100 $28,700 $32,300 $35,850 $38,750 $41,600 $44,500 $47,350
80% of Median $40,150 $45,900 $51,650 $57,350 $61,950 $66,550 $71,150 $75,750