Spring Meadow Apartments Schoharie Cnty
- «
- 1
- »
There are 24 low-income apartments in Sharon Springs that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Sharon Springs where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $-4 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.
Sharon Springs, New York Affordable Housing Data
Income Based Apartments in Sharon Springs, New York
Sharon Springs features 0 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 Sharon Springs, New York
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sharon Springs.
Housing Choice Vouchers in Sharon Springs, New York
On average, Section 8 Housing Choice vouchers pay Sharon Springs landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Sharon Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Sharon Springs, New York for a two-bedroom apartment is between $1,237 and $1,511.
2024 Sharon Springs, 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 | |
|---|---|---|---|---|---|
| Sharon Springs, New York Fair Market Rent | $1,011 | $1,131 | $1,374 | $1,661 | $1,830 |
| Sharon Springs, New York Payment Standard Range | $910 to $1,112 | $1,018 to $1,244 | $1,237 to $1,511 | $1,495 to $1,827 | $1,647 to $2,013 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Sharon Springs, NY Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 24 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 46.25% |
| Average Renter Household Size | 2.55 |
| Average Household Size | 2.49 |
| Median Household Income | $46,875 ±$8,851 |
| Median Rent | $677 ±$73 |
| Percentage Of Renters Overburdened | 40.54% ± 17.78pp |
| Total Population | 614 |
Population and Household Demographics
Sharon Springs is a city in Schoharie County, New York with a population of 614. There are 240 households in the city with an average household size of 2.49 persons. 46.25% of households in Sharon Springs are renters.
Income and Rent Overburden in Sharon Springs
The median gross income for households in Sharon Springs is $46,875 a year, or $3,906 a month. The median rent for the city is $677 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sharon Springs, a household making less than $2,257 a month would be considered overburdened when renting an apartment at or above the median rent. 40.54% of households who rent are overburdened in Sharon Springs.
Area Median Income In Sharon Springs
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 Sharon Springs, the AMI is calculated from all households within Schoharie County.
In Sharon Springs, HUD calculates the Area Median Income for a family of four as $113,300
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 Sharon Springs
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 Sharon Springs
| 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 Sharon Springs AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$23,600 | $26,950 | $30,300 | $33,650 | $36,350 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Sharon Springs AMI may qualify for rental assistance programs that target Very Low Income households. |
$39,300 | $44,900 | $50,500 | $56,100 | $60,600 | $65,100 | $69,600 | $74,100 |
| 80% AMI Income Limits Renters earning up to 80% of the Sharon Springs AMI may qualify for rental assistance programs that target Low Income households. |
$62,850 | $71,800 | $80,800 | $89,750 | $96,950 | $104,150 | $111,300 | $118,500 |
© 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.