- «
- 1
- »
There are 0 low-income apartments in Franklin Square that offer reduced rents to eligible households.
Rental assistance programs support 104 low-income homes in Franklin Square where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $607 towards rent each month.
Affordable rent data for some communities last confirmed on October 30th, 2019. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Franklin Square, New York
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 |
|---|---|
| Nassau County Office of Housing | Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Section 8 Project-Based Voucher (PBV) |
Franklin Square, New York Affordable Housing Data
Income Based Apartments in Franklin Square, New York
Franklin Square features 104 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 Franklin Square, New York
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin Square.
Housing Choice Vouchers in Franklin Square, New York
On average, Section 8 Housing Choice vouchers pay Franklin Square landlords $900 per month towards rent. The average voucher holder contributes $600 towards rent in Franklin Square.
The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin Square, New York for a two-bedroom apartment is between $2,257 and $2,759.
2024 Franklin Square, New York 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 | |
|---|---|---|---|---|---|
| Franklin Square, New York Fair Market Rent | $1,708 | $2,144 | $2,508 | $3,246 | $3,521 |
| Franklin Square, New York Payment Standard Range | $1,537 to $1,879 | $1,930 to $2,358 | $2,257 to $2,759 | $2,921 to $3,571 | $3,169 to $3,873 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Franklin Square, NY Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 104 |
| Total Housing Units with Rental Assistance | 104 |
| Percentage of Housing Units Occupied By Renters | 17.16% |
| Average Renter Household Size | 2.63 |
| Average Household Size | 3.24 |
| Median Household Income | $96,568 ±$6,698 |
| Median Rent | $1,469 ±$170 |
| Percentage Of Renters Overburdened | 50.21% ± 10.1pp |
| Total Population | 31,544 |
Population and Household Demographics
Franklin Square is a city in Nassau County, New York with a population of 31,544. There are 9,667 households in the city with an average household size of 3.24 persons. 17.16% of households in Franklin Square are renters.
Income and Rent Overburden in Franklin Square
The median gross income for households in Franklin Square is $96,568 a year, or $8,047 a month. The median rent for the city is $1,469 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Franklin Square, a household making less than $4,897 a month would be considered overburdened when renting an apartment at or above the median rent. 50.21% of households who rent are overburdened in Franklin Square.
Area Median Income In Franklin Square
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 Franklin Square, the AMI is calculated from all households within Nassau County.
In Franklin Square, HUD calculates the Area Median Income for a family of four as $156,300
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 Franklin Square
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 Franklin Square
| 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 Franklin Square AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$32,350 | $36,950 | $41,550 | $46,150 | $49,850 | $53,550 | $57,250 | $60,950 |
| 50% AMI Income Limits Renters earning up to 50% of the Franklin Square AMI may qualify for rental assistance programs that target Very Low Income households. |
$53,900 | $61,600 | $69,300 | $76,950 | $83,150 | $89,300 | $95,450 | $101,600 |
| 80% AMI Income Limits Renters earning up to 80% of the Franklin Square AMI may qualify for rental assistance programs that target Low Income households. |
$71,400 | $81,600 | $91,800 | $102,000 | $110,200 | $118,350 | $126,500 | $134,650 |
© 2002-2024 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.