What HUD offices serve Newark, New Jersey?
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.
Go to the New Jersey Public Housing and Low-Income Apartments Waiting Lists page for openings near Newark.
How many renters live in Newark, New Jersey?
The City of Newark has people living in households.
There are renters living in renter households in this City. Renters make up 67.55 percent of the population living in Newark.
What is the rental market like in Newark, New Jersey?
There are an estimated housing units in the Newark area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Newark, New Jersey, there are 1.12 rental units.
What is the vacancy rate for rentals in Newark?
The rental vacancy rate in Newark is 3 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 Newark for each bedroom size?
Occupied Rental Units by Size in Newark
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms 6,557 19,513 26,360 23,951 2,669 Occupied Rental Units by Size in Newark
A large number of apartments in Newark 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 Newark
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,379 to $2,800. FMRs are updated annually by HUD for every city and county nationwide.
Bed Size 2024 Fair Market Rents Studio $1,379 One BR $1,590 Two BR $1,916 Three BR $2,424 Four BR $2,800 2024 Fair Market Rents in Newark, New Jersey
How many units are rented at Fair Market Rent (FMR) in Newark?
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 4,605 70 percent One BR 15,874 81 percent Two BR 18,821 71 percent Rental Units Below FMR in Newark, New Jersey
How many affordable rental units are in Newark?
There are a variety of federal affordable housing programs serving households in
Newark, New Jersey including the following: Rental units may be funded in part by multiple federal programs.Federal Program Unit Count Low Income Housing Tax Credit Public Housing Section 8 Project-Based Rental Assistance Mod Rehab Project-Based Rental Assistance Section 236 Rental Assistance Section 811 Supportive Housing for Persons with Disabilities Tracked Units by Federal Program in Newark, New Jersey
Income Based Apartments in Newark, New Jersey
Newark features 18,050 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 Newark, New Jersey
There are 5,324 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Newark.
Housing Choice Vouchers in Newark, New Jersey
On average, Section 8 Housing Choice vouchers pay Newark landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Newark.
The maximum amount a voucher would pay on behalf of a low-income tenant in Newark, New Jersey for a two-bedroom apartment is between $1,724 and $2,108.
Sourced from federal housing data and AffordableHousingOnline.com research.
