Apply to Monterey Park Apartment Waiting Lists
- Encanto Court, Terra Bella, Arboleda Senior and Bellflower Friendship Apartments Senior Section 8 Project-Based Voucher is open.
- Sierra Bonita Apartments Disabled Section 8 Project-Based Voucher is open.
- Seasons at Compton, Casa Dominguez, Jasmine Gardens, Villa Nueva, Equa and West Carson Villas Apartments Section 8 Project-Based Voucher is open.
Mosaic Gardens at Monterey Park
Monterey Park Senior Village
Pacific Housing Development
Pacific Bridge Adult Res. Fac.
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There are 251 low-income apartments in Monterey Park that offer reduced rents to eligible households.
Rental assistance programs support 257 low-income homes in Monterey Park where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $497 towards rent each month.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Monterey Park, California
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.
| Housing Authority | Programs |
|---|---|
| Los Angeles County Development Authority | Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency; Section 8 Project-Based Voucher (PBV); Moderate Rehabilitation |
Monterey Park, California Affordable Housing Data
Income Based Apartments in Monterey Park, California
Monterey Park features 257 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 Monterey Park, California
There are 251 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monterey Park.
Housing Choice Vouchers in Monterey Park, California
On average, Section 8 Housing Choice vouchers pay Monterey Park landlords $1,100 per month towards rent. The average voucher holder contributes $500 towards rent in Monterey Park.
The maximum amount a voucher would pay on behalf of a low-income tenant in Monterey Park, California for a two-bedroom apartment is between $2,290 and $2,798.
2024 Monterey Park, California 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 | |
|---|---|---|---|---|---|
| Monterey Park, California Fair Market Rent | $1,777 | $2,006 | $2,544 | $3,263 | $3,600 |
| Monterey Park, California Payment Standard Range | $1,599 to $1,955 | $1,805 to $2,207 | $2,290 to $2,798 | $2,937 to $3,589 | $3,240 to $3,960 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Monterey Park, CA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 8 |
|---|---|
| Total Low Income Apartments | 508 |
| Total Housing Units with Rental Assistance | 257 |
| Percentage of Housing Units Occupied By Renters | 47.98% |
| Average Renter Household Size | 3.16 |
| Average Household Size | 3.18 |
| Median Household Income | $54,097 ±$3,251 |
| Median Rent | $1,234 ±$31 |
| Percentage Of Renters Overburdened | 57% ± 3.98pp |
| Total Population | 61,085 |
Population and Household Demographics
Monterey Park is a city in Los Angeles County, California with a population of 61,085. There are 19,106 households in the city with an average household size of 3.18 persons. 47.98% of households in Monterey Park are renters.
Income and Rent Overburden in Monterey Park
The median gross income for households in Monterey Park is $54,097 a year, or $4,508 a month. The median rent for the city is $1,234 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Monterey Park, a household making less than $4,113 a month would be considered overburdened when renting an apartment at or above the median rent. 57% of households who rent are overburdened in Monterey Park.
Area Median Income In Monterey 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 Monterey Park, the AMI is calculated from all households within Los Angeles County.
In Monterey Park, HUD calculates the Area Median Income for a family of four as $98,200
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 Monterey 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 Monterey Park
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Monterey Park AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$26,500 | $30,300 | $34,100 | $37,850 | $40,900 | $43,950 | $46,950 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Monterey Park AMI may qualify for rental assistance programs that target Very Low Income households. |
$44,150 | $50,450 | $56,750 | $63,050 | $68,100 | $73,150 | $78,200 | $83,250 |
| 80% AMI Income Limits Renters earning up to 80% of the Monterey Park AMI may qualify for rental assistance programs that target Low Income households. |
$70,650 | $80,750 | $90,850 | $100,900 | $109,000 | $117,050 | $125,150 | $133,200 |
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