What HUD offices serve Princeville, North Carolina?
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 North Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Princeville.
How many renters live in Princeville, North Carolina?
The City of Princeville has 1,630 people living in 591 households.
There are 578 renters living in 223 renter households in this City. Renters make up 35.46 percent of the population living in Princeville.
What is the rental market like in Princeville, North Carolina?
There are an estimated 843 housing units in the Princeville area. Of these, 223 units are rental homes, making up 26 percent of the housing market. For every renter household in Princeville, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Princeville?
The rental vacancy rate in Princeville 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 Princeville for each bedroom size?
Occupied Rental Units by Size in Princeville
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 21 | 53 | 149 | 0 |
Occupied Rental Units by Size in Princeville
A large number of apartments in Princeville 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 Princeville are overburdened by housing costs?
Among renter households in this market, 44 percent have housing cost burden. Further, 9 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 Princeville
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $825 to $1,579. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $825 |
| One BR | $830 |
| Two BR | $1,035 |
| Three BR | $1,395 |
| Four BR | $1,579 |
2024 Fair Market Rents in Princeville, North Carolina
How many units are rented at Fair Market Rent (FMR) in Princeville?
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 | 21 | 100 percent |
| Two BR | 50 | 94 percent |
Rental Units Below FMR in Princeville, North Carolina
How many affordable rental units are in Princeville?
There are a variety of federal affordable housing programs serving households in Princeville, North Carolina including the following:
| Federal Program | Unit Count |
| Public Housing | 2 |
| Section 8 Project-Based Rental Assistance | 49 |
Tracked Units by Federal Program in Princeville, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Princeville, North Carolina
Princeville features 103 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 Princeville, North Carolina
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Princeville.
Housing Choice Vouchers in Princeville, North Carolina
On average, Section 8 Housing Choice vouchers pay Princeville landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Princeville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Princeville, North Carolina for a two-bedroom apartment is between $932 and $1,139.
Sourced from federal housing data and AffordableHousingOnline.com research.
