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

Discover affordable housing in Newport where there are 8+ 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.

Newport Place

246 Elm St, Newport, Vermont 05855

Newport City Senior Housing

107 Main St, Newport, Vermont 05855

Governor Prouty Apartments

26 Governor Dr, Newport, Vermont 5855

Parkview Housing

143-233 Willey St, Newport, Vermont 05855

Lakebridge Housing

50 Compass Drive, Newport, Vermont 5855

Lakeview Housing

16 Governor Dr, Newport, Vermont 05855

Governors Mansion Apartments

88 2nd St, Newport, Vermont 05855

Newport Family Housing

48 Pleasant St, Newport, Vermont 05855

calendar_today Opens: Apr 1

Reported On March 19th, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Newport, Vermont
$20.47/hour
$6.80 (+50%) more than Vermont minimum wage and $13.22 (+182%) more than the Federal minimum wage.
Learn More About Newport, Vermont Affordable Housing ↓

What HUD offices serve Newport, 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) programs for Newport, Vermont.

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

How many renters live in Newport, Vermont?

The City of Newport has 4,431 people living in 1,988 households.

There are 1,444 renters living in 790 renter households in this City. Renters make up 32.59 percent of the population living in Newport.

What is the rental market like in Newport, Vermont?

There are an estimated 2,383 housing units in the Newport area. Of these, 804 units are rental homes, making up 34 percent of the housing market. For every renter household in Newport, Vermont, there are 1 rental units.

What is the vacancy rate for rentals in Newport?

The rental vacancy rate in Newport is 2 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 Newport for each bedroom size?

Occupied Rental Units by Size in Newport
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
67 300 270 131 22
Occupied Rental Units by Size in Newport

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

Among renter households in this market, 50 percent have housing cost burden. Further, 32 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 Newport

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $831 to $1,524. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $831
One BR $963
Two BR $1,081
Three BR $1,401
Four BR $1,524
2024 Fair Market Rents in Newport, Vermont

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

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 52 78 percent
One BR 234 78 percent
Two BR 226 84 percent
Rental Units Below FMR in Newport, Vermont

How many affordable rental units are in Newport?

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

Federal Program Unit Count
Low Income Housing Tax Credit 98
Section 8 Project-Based Rental Assistance 48
Section 202 Supportive Housing for the Elderly 12
USDA Section 515 Rural Rental Housing 73
Tracked Units by Federal Program in Newport, Vermont

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

Income Based Apartments in Newport, Vermont

Newport features 122 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 Newport, Vermont

There are 21 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Newport.

Housing Choice Vouchers in Newport, Vermont

On average, Section 8 Housing Choice vouchers pay Newport landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Newport.

The maximum amount a voucher would pay on behalf of a low-income tenant in Newport, Vermont for a two-bedroom apartment is between $973 and $1,189.

Sourced from federal housing data and AffordableHousingOnline.com research.