Low Income Apartments and Affordable Housing For Rent in Montpelier, VT

Discover affordable housing in Montpelier where there are 14+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Cummings Street Family Housing

21 Cummings St, Montpelier, Vermont 05602

Seven Saint Paul Street

7 St Paul St, Montpelier, Vermont 05602

Lane Shops Apartments

14 N Franklin St, Montpelier, Vermont 05602

River Station

193 Barre St, Montpelier, Vermont 05602

French Block

32 Main Street, Montpelier, Vermont 05602

Lane Shops

1 Mechanic St, Montpelier, Vermont 05602

Bianchi Building

208 Barre St, Montpelier, Vermont 05602

58 Barre Street

58 Barre St, Montpelier, Vermont 05602

Barre Street Project

37 Barre St, Montpelier, Vermont 05602

Hebert Farms

23 Hebert Rd, Montpelier, Vermont 05602

Pioneer Apartments

155 Main St, Montpelier, Vermont 05602

River Station Apartments

221 Barre St, Montpelier, Vermont 05602

Prospect Street Housing

3 Prospect St, Montpelier, Vermont 05602

North Branch Apartments

87 Elm St, Montpelier, Vermont 05602

calendar_today Opened: Apr 1
Open Until Further Notice

Reported On April 1st, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Montpelier, Vermont
$13.85 (+101%) more than Vermont minimum wage and $20.27 (+280%) more than the Federal minimum wage.
Learn More About Montpelier, Vermont Affordable Housing ↓

What HUD offices serve Montpelier, Vermont?

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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Montpelier, Vermont.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Montpelier, Vermont.

Go to the Vermont Public Housing and Low-Income Apartments Waiting Lists page for openings near Montpelier.

How many renters live in Montpelier, Vermont?

The City of Montpelier has 8,030 people living in 3,861 households.

There are 2,843 renters living in 1,707 renter households in this City. Renters make up 35.4 percent of the population living in Montpelier.

What is the rental market like in Montpelier, Vermont?

There are an estimated 4,171 housing units in the Montpelier area. Of these, 1,755 units are rental homes, making up 42 percent of the housing market. For every renter household in Montpelier, Vermont, there are 1 rental units.

What is the vacancy rate for rentals in Montpelier?

The rental vacancy rate in Montpelier is 1 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 Montpelier for each bedroom size?

Occupied Rental Units by Size in Montpelier
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
100 628 784 159 34
Occupied Rental Units by Size in Montpelier

A large number of apartments in Montpelier 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 Montpelier are overburdened by housing costs?

Among renter households in this market, 34 percent have housing cost burden. Further, 12 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 Montpelier

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $985 to $1,975. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $985
One BR $1,106
Two BR $1,453
Three BR $1,832
Four BR $1,975
2024 Fair Market Rents in Montpelier, Vermont

How many units are rented at Fair Market Rent (FMR) in Montpelier?

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 51 51 percent
One BR 419 67 percent
Two BR 528 67 percent
Rental Units Below FMR in Montpelier, Vermont

How many affordable rental units are in Montpelier?

There are a variety of federal affordable housing programs serving households in Montpelier, Vermont including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 272
Public Housing 60
Section 8 Project-Based Rental Assistance 96
USDA Section 515 Rural Rental Housing 43
Tracked Units by Federal Program in Montpelier, Vermont

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Montpelier, Vermont

Montpelier features 190 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 Montpelier, Vermont

There are 200 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Montpelier.

Housing Choice Vouchers in Montpelier, Vermont

On average, Section 8 Housing Choice vouchers pay Montpelier landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Montpelier.

The maximum amount a voucher would pay on behalf of a low-income tenant in Montpelier, Vermont for a two-bedroom apartment is between $1,308 and $1,598.

Sourced from federal housing data and AffordableHousingOnline.com research.