Low Income Apartments For Rent in Watervliet, NY

Rental assistance programs support 593 low-income homes in Watervliet where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $436 towards rent each month.

Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Watervliet, 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
Watervliet Housing Authority	Section 8 Housing Choice Voucher (HCV); Public Housing

Go to the New York Public Housing and Low-Income Apartments Waiting Lists page for openings near Watervliet.

Watervliet, New York Affordable Housing Data

Income Based Apartments in Watervliet, New York

Watervliet features 593 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 Watervliet, New York

There are 131 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Watervliet.

Housing Choice Vouchers in Watervliet, New York

On average, Section 8 Housing Choice vouchers pay Watervliet landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Watervliet.

The maximum amount a voucher would pay on behalf of a low-income tenant in Watervliet, New York for a two-bedroom apartment is between $1,237 and $1,511.

2024 Watervliet, 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
Watervliet, New York Fair Market Rent	$1,011	$1,131	$1,374	$1,661	$1,830
Watervliet, 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.

Watervliet, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 11

Total Low Income Apartments 727

Total Housing Units with Rental Assistance 593

Percentage of Housing Units Occupied By Renters 59.55%

Average Renter Household Size 1.99

Average Household Size 2.15

Median Household Income $45,533 ±$5,599

Median Rent $832 ±$29

Percentage Of Renters Overburdened 44.24% ± 7.96pp

Total Population 10,241

Total Affordable Apartment Properties	11
Total Low Income Apartments	727
Total Housing Units with Rental Assistance	593
Percentage of Housing Units Occupied By Renters	59.55%
Average Renter Household Size	1.99
Average Household Size	2.15
Median Household Income	$45,533 ±$5,599
Median Rent	$832 ±$29
Percentage Of Renters Overburdened	44.24% ± 7.96pp
Total Population	10,241

Population and Household Demographics

Watervliet is a city in Albany County, New York with a population of 10,241. There are 4,749 households in the city with an average household size of 2.15 persons. 59.55% of households in Watervliet are renters.

Income and Rent Overburden in Watervliet

The median gross income for households in Watervliet is $45,533 a year, or $3,794 a month. The median rent for the city is $832 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Watervliet, a household making less than $2,773 a month would be considered overburdened when renting an apartment at or above the median rent. 44.24% of households who rent are overburdened in Watervliet.

Area Median Income In Watervliet

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 Watervliet, the AMI is calculated from all households within Albany County.

In Watervliet, 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 Watervliet

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 Watervliet

	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 Watervliet 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 Watervliet 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 Watervliet 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