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Landlord Incentive Program

This program is helping to address the ongoing need for affordable housing for renters impacted by Superstorm Sandy. It does this by incentivizing landlords of all sizes to provide safe, suitable and affordable housing for low- and moderate-income residents who have found it difficult to locate rental housing.

The Landlord Incentive Program (LIP) provides a rental property owner roughly the difference between 30 percent of the tenant’s monthly income and federal fair market rents each month and ensures that participating landlords receive a stable monetary incentive. Participating landlords can receive up to 24 months of this incentive provided that they rent to households earning 80 percent or less of the Area Median Income of their county.

The chart below provides the household gross income limits that apply to renters who are interested in benefiting from this program.

COUNTY 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Atlantic $38,150 $43,600 $49,050 $54,500 $58,900 $63,250 $67,600 $71,950
Bergen $49,000 $56,000 $63,000 $70,000 $75,600 $81,200 $86,800 $92,400
Cape May $41,200 $47,050 $52,950 $58,800 $63,550 $68,250 $72,950 $77,650
Essex $49,150 $56,150 $63,200 $70,200 $75,800 $81,450 $87,050 $92,650
Hudson $42,150 $48,150 $54,150 $60,150 $65,000 $69,800 $74,600 $79,400
Middlesex $56,300 $64,300 $72,350 $80,400 $86,850 $93,250 $99,700 $106,150
Monmouth $48,850 $55,850 $62,800 $69,800 $75,400 $80,950 $86,550 $92,150
Ocean $48,850 $55,850 $62,800 $69,800 $75,400 $80,950 $86,550 $92,150
Union $49,150 $56,150 $63,200 $70,200 $75,800 $81,450 $87,050 $92,650

Sandy-impacted renters who meet the program’s income requirements and who may be interested in renting from a landlord participating in this program are encouraged to utilize the list below.

PARTICIPATING LANDLORDS:

See the List of Agencies Funded by LIP to Provide Affordable Short-term Rental Housing.