Low Income Apartments and Affordable Housing For Rent in New Market, VA

Discover affordable housing in New Market where there are 4+ 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.

New Market North II

9091 N Congress St, New Market, Virginia 22844

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

Shenandoah Commons

9157 N Congress St, New Market, Virginia 22844

switch_access_shortcut Short Wait
accessibility Accessible

Congress Street

9171 N Congress St, New Market, Virginia 22844

switch_access_shortcut Short Wait
accessibility Accessible

Luther Crest

9138 N Congress St, New Market, Virginia 22844

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How To Identify Affordable Housing in New Market, Virginia

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In New Market, Virginia
$21.08/hour
$9.08 (+76%) more than Virginia minimum wage and $13.83 (+191%) more than the Federal minimum wage.
Learn More About New Market, Virginia Affordable Housing ↓

What HUD offices serve New Market, Virginia?

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 New Market, Virginia.
Operates the Section 8 Housing Choice Voucher (HCV) programs for New Market, Virginia.

Go to the Virginia Public Housing and Low-Income Apartments Waiting Lists page for openings near New Market.

How many renters live in New Market, Virginia?

The City of New Market has people living in households.

There are renters living in renter households in this City. Renters make up 50.37 percent of the population living in New Market.

What is the rental market like in New Market, Virginia?

There are an estimated housing units in the New Market area. Of these, units are rental homes, making up percent of the housing market. For every renter household in New Market, Virginia, there are 1.02 rental units.

What is the vacancy rate for rentals in New Market?

The rental vacancy rate in New Market is 0 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 New Market for each bedroom size?

Occupied Rental Units by Size in New Market
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
21 253 293 33 27
Occupied Rental Units by Size in New Market

A large number of apartments in New Market have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in New Market

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $754 to $1,494. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $754
One BR $848
Two BR $1,113
Three BR $1,488
Four BR $1,494
2024 Fair Market Rents in New Market, Virginia

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

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 21 100 percent
One BR 229 91 percent
Two BR 232 79 percent
Rental Units Below FMR in New Market, Virginia

How many affordable rental units are in New Market?

There are a variety of federal affordable housing programs serving households in New Market, Virginia including the following:

Federal Program Unit Count
Low Income Housing Tax Credit
Section 8 Project-Based Rental Assistance
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in New Market, Virginia

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

Income Based Apartments in New Market, Virginia

New Market features 74 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 Market, Virginia

There are 76 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Market.

Housing Choice Vouchers in New Market, Virginia

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

The maximum amount a voucher would pay on behalf of a low-income tenant in New Market, Virginia for a two-bedroom apartment is between $1,002 and $1,224.

Sourced from federal housing data and AffordableHousingOnline.com research.

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