What HUD offices serve Princess Anne, Maryland?
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.
Go to the Maryland Public Housing and Low-Income Apartments Waiting Lists page for openings near Princess Anne.
How many renters live in Princess Anne, Maryland?
The City of Princess Anne has 3,440 people living in 1,299 households.
There are 2,239 renters living in 907 renter households in this City. Renters make up 65.09 percent of the population living in Princess Anne.
What is the rental market like in Princess Anne, Maryland?
There are an estimated 1,764 housing units in the Princess Anne area. Of these, 1,002 units are rental homes, making up 57 percent of the housing market. For every renter household in Princess Anne, Maryland, there are 1 rental units.
What is the vacancy rate for rentals in Princess Anne?
The rental vacancy rate in Princess Anne is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Princess Anne for each bedroom size?
Occupied Rental Units by Size in Princess Anne
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 117 | 351 | 332 | 82 |
Occupied Rental Units by Size in Princess Anne
A large number of apartments in Princess Anne have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Princess Anne are overburdened by housing costs?
Among renter households in this market, 69 percent have housing cost burden. Further, 41 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Princess Anne
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $832 to $1,465. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $832 |
| One BR | $837 |
| Two BR | $1,100 |
| Three BR | $1,458 |
| Four BR | $1,465 |
2024 Fair Market Rents in Princess Anne, Maryland
How many units are rented at Fair Market Rent (FMR) in Princess Anne?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| One BR | 57 | 49 percent |
| Two BR | 213 | 61 percent |
Rental Units Below FMR in Princess Anne, Maryland
How many affordable rental units are in Princess Anne?
There are a variety of federal affordable housing programs serving households in Princess Anne, Maryland including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 231 |
| Section 8 Project-Based Rental Assistance | 54 |
| USDA Section 515 Rural Rental Housing | 70 |
Tracked Units by Federal Program in Princess Anne, Maryland
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Princess Anne, Maryland
Princess Anne features 362 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 Princess Anne, Maryland
There are 294 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Princess Anne.
Housing Choice Vouchers in Princess Anne, Maryland
On average, Section 8 Housing Choice vouchers pay Princess Anne landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Princess Anne.
The maximum amount a voucher would pay on behalf of a low-income tenant in Princess Anne, Maryland for a two-bedroom apartment is between $990 and $1,210.
Sourced from federal housing data and AffordableHousingOnline.com research.
