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There are 0 low-income apartments in Loch Sheldrake that offer reduced rents to eligible households.
Rental assistance programs support 60 low-income homes in Loch Sheldrake where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on September 10th, 2020. Subdsidized rents typically change once a year based on federal guidance.
Loch Sheldrake, New York Affordable Housing Data
Income Based Apartments in Loch Sheldrake, New York
Loch Sheldrake features 60 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 Loch Sheldrake, New York
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Loch Sheldrake.
Housing Choice Vouchers in Loch Sheldrake, New York
On average, Section 8 Housing Choice vouchers pay Loch Sheldrake landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Loch Sheldrake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Loch Sheldrake, New York for a two-bedroom apartment is between $970 and $1,186.
2024 Loch Sheldrake, 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 | |
|---|---|---|---|---|---|
| Loch Sheldrake, New York Fair Market Rent | $789 | $917 | $1,078 | $1,506 | $1,653 |
| Loch Sheldrake, New York Payment Standard Range | $710 to $868 | $825 to $1,009 | $970 to $1,186 | $1,355 to $1,657 | $1,488 to $1,818 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Area Median Income In Loch Sheldrake
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 Loch Sheldrake, the AMI is calculated from all households within Sullivan County.
In Loch Sheldrake, HUD calculates the Area Median Income for a family of four as $85,000
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 Loch Sheldrake
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 Loch Sheldrake
| 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 Loch Sheldrake AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,050 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Loch Sheldrake AMI may qualify for rental assistance programs that target Very Low Income households. |
$28,450 | $32,500 | $36,550 | $40,600 | $43,850 | $47,100 | $50,350 | $53,600 |
| 80% AMI Income Limits Renters earning up to 80% of the Loch Sheldrake AMI may qualify for rental assistance programs that target Low Income households. |
$45,500 | $52,000 | $58,500 | $64,950 | $70,150 | $75,350 | $80,550 | $85,750 |
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