Somers Point Village I
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There are 0 low-income apartments in Somers Point that offer reduced rents to eligible households.
Rental assistance programs support 120 low-income homes in Somers Point where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $409 towards rent each month.
Affordable rent data for some communities last confirmed on April 18th, 2022. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Somers Point, 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.
| Housing Authority | Programs |
|---|---|
| State of New Jersey Department of Community Affairs | Section 8 Housing Choice Voucher (HCV) |
Somers Point, New Jersey Affordable Housing Data
Income Based Apartments in Somers Point, New Jersey
Somers Point features 120 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 Somers Point, New Jersey
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Somers Point.
Housing Choice Vouchers in Somers Point, New Jersey
On average, Section 8 Housing Choice vouchers pay Somers Point landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Somers Point.
The maximum amount a voucher would pay on behalf of a low-income tenant in Somers Point, New Jersey for a two-bedroom apartment is between $1,503 and $1,837.
2024 Somers Point, New Jersey 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 | |
|---|---|---|---|---|---|
| Somers Point, New Jersey Fair Market Rent | $1,172 | $1,340 | $1,670 | $2,353 | $2,584 |
| Somers Point, New Jersey Payment Standard Range | $1,055 to $1,289 | $1,206 to $1,474 | $1,503 to $1,837 | $2,118 to $2,588 | $2,326 to $2,842 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Somers Point, NJ Affordable Housing Snapshot
| Total Affordable Apartment Properties | 2 |
|---|---|
| Total Low Income Apartments | 120 |
| Total Housing Units with Rental Assistance | 120 |
| Percentage of Housing Units Occupied By Renters | 45.22% |
| Average Renter Household Size | 2.26 |
| Average Household Size | 2.37 |
| Median Household Income | $50,450 ±$3,942 |
| Median Rent | $972 ±$41 |
| Percentage Of Renters Overburdened | 56.41% ± 9.03pp |
| Total Population | 10,776 |
Population and Household Demographics
Somers Point is a city in Atlantic County, New Jersey with a population of 10,776. There are 4,540 households in the city with an average household size of 2.37 persons. 45.22% of households in Somers Point are renters.
Income and Rent Overburden in Somers Point
The median gross income for households in Somers Point is $50,450 a year, or $4,204 a month. The median rent for the city is $972 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Somers Point, a household making less than $3,240 a month would be considered overburdened when renting an apartment at or above the median rent. 56.41% of households who rent are overburdened in Somers Point.
Area Median Income In Somers Point
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 Somers Point, the AMI is calculated from all households within Atlantic County.
In Somers Point, 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 Somers Point
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 Somers Point
| 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 Somers Point AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$18,750 | $21,400 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Somers Point AMI may qualify for rental assistance programs that target Very Low Income households. |
$31,200 | $35,650 | $40,100 | $44,550 | $48,150 | $51,700 | $55,250 | $58,850 |
| 80% AMI Income Limits Renters earning up to 80% of the Somers Point AMI may qualify for rental assistance programs that target Low Income households. |
$49,950 | $57,050 | $64,200 | $71,300 | $77,050 | $82,750 | $88,450 | $94,150 |
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