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Affordable Housing Expands in Parsippany-Troy Hills: Here's What You Need to Know
Morris County residents can explore multiple affordable rental options and financial assistance programs.
Parsippany-Troy Hills Township has rolled out new options for affordable housing, featuring a range of rental properties and financial assistance programs designed to ease homeownership and renting for Morris County residents.
In a bid to make housing more accessible, Parsippany-Troy Hills has listed a variety of options through its portal AffordableHomesNewJersey.com. On the website, prospective tenants and buyers can complete preliminary applications, join waiting lists, and learn about various affordable housing opportunities.
Who: The information is being provided by Morris County and Parsippany-Troy Hills Township.
What: The affordable housing options include Mill Run Apartments, which offers 16 units of 1, 2, and 3 bedrooms under very low to moderate income brackets. For seniors, Brookside and Vail Manor Senior Apartments provide age-restricted housing with 191 and 35 units respectively. Mountain Way Estates is another rental option, offering 15 units of 1-, 2-, and 3-bedroom apartments.
When: The information and application options are available now for the year 2023.
Where: The housing options are situated in Parsippany-Troy Hills Township, and further details can be accessed via AffordableHomesNewJersey.com.
Why: To assist low to moderate-income households in finding affordable housing and provide financial assistance for first-time homebuyers.
How: Morris County is facilitating affordability through its down payment assistance program. Eligible applicants may receive a zero-interest loan of $10,000 toward their down payment. This initiative mandates attendance at home buyer workshops and one-on-one financial counseling, involving a participating bank.
For those who require rent and security deposit assistance, Morris County's Office of Temporary Assistance (OTA) provides benefits to income-qualified applicants.
Income Guidelines:
The maximum income limits for different household sizes have also been disclosed for 2023. A single person under the very low-income category should have an income below $26,004, while under the moderate bracket, the limit is $69,344. For a family of four, the income should not exceed $37,149 for very low and $99,063 for moderate-income categories.
For more details about the down payment assistance program, residents can contact the Housing Partnership at 973-659-9222 or visit Housing Partnership NJ. The Office of Temporary Assistance can be reached through its official website.
For further queries, residents are encouraged to explore AffordableHomesNewJersey.com or directly contact the listed organizations.
By adhering to these programs and income guidelines, Parsippany-Troy Hills and Morris County aim to make housing not just a necessity but an accessible dream for its residents.
