What HUD offices serve New Prague, Minnesota?
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 Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near New Prague.
How many renters live in New Prague, Minnesota?
The City of New Prague has 8,155 people living in 2,822 households.
There are 895 renters living in 494 renter households in this City. Renters make up 10.97 percent of the population living in New Prague.
What is the rental market like in New Prague, Minnesota?
There are an estimated 2,949 housing units in the New Prague area. Of these, 494 units are rental homes, making up 17 percent of the housing market. For every renter household in New Prague, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in New Prague?
The rental vacancy rate in New Prague is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in New Prague for each bedroom size?
Occupied Rental Units by Size in New Prague
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 167 | 226 | 91 | 10 |
Occupied Rental Units by Size in New Prague
A large number of apartments in New Prague 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 New Prague are overburdened by housing costs?
Among renter households in this market, 29 percent have housing cost burden. Further, 20 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 New Prague
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $804 to $1,758. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $804 |
| One BR | $845 |
| Two BR | $1,110 |
| Three BR | $1,564 |
| Four BR | $1,758 |
2024 Fair Market Rents in New Prague, Minnesota
How many units are rented at Fair Market Rent (FMR) in New Prague?
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 | 118 | 71 percent |
| Two BR | 158 | 70 percent |
Rental Units Below FMR in New Prague, Minnesota
How many affordable rental units are in New Prague?
There are a variety of federal affordable housing programs serving households in New Prague, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 20 |
| Section 8 Project-Based Rental Assistance | 81 |
| USDA Section 515 Rural Rental Housing | 47 |
Tracked Units by Federal Program in New Prague, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in New Prague, Minnesota
New Prague features 81 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 New Prague, Minnesota
There are 20 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Prague.
Housing Choice Vouchers in New Prague, Minnesota
On average, Section 8 Housing Choice vouchers pay New Prague landlords $1,300 per month towards rent. The average voucher holder contributes $400 towards rent in New Prague.
The maximum amount a voucher would pay on behalf of a low-income tenant in New Prague, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.
Sourced from federal housing data and AffordableHousingOnline.com research.
