How many renters live in Parksley, Virginia?
The City of Parksley has 764 people living in 313 households.
There are 225 renters living in 112 renter households in this City. Renters make up 29.45 percent of the population living in Parksley.
What is the rental market like in Parksley, Virginia?
There are an estimated 413 housing units in the Parksley area. Of these, 112 units are rental homes, making up 27 percent of the housing market. For every renter household in Parksley, Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Parksley?
The rental vacancy rate in Parksley 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 Parksley for each bedroom size?
Occupied Rental Units by Size in Parksley
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 23 | 46 | 30 | 13 |
Occupied Rental Units by Size in Parksley
A large number of apartments in Parksley 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 Parksley are overburdened by housing costs?
Among renter households in this market, 24 percent have housing cost burden. Further, 0 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 Parksley
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $766 to $1,592. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $766 |
| One BR | $832 |
| Two BR | $938 |
| Three BR | $1,294 |
| Four BR | $1,592 |
2024 Fair Market Rents in Parksley, Virginia
How many units are rented at Fair Market Rent (FMR) in Parksley?
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 | 16 | 70 percent |
| Two BR | 26 | 57 percent |
Rental Units Below FMR in Parksley, Virginia
How many affordable rental units are in Parksley?
Income Based Apartments in Parksley, Virginia
Parksley features 0 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 Parksley, Virginia
There are 90 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Parksley.
Housing Choice Vouchers in Parksley, Virginia
On average, Section 8 Housing Choice vouchers pay Parksley landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Parksley.
The maximum amount a voucher would pay on behalf of a low-income tenant in Parksley, Virginia for a two-bedroom apartment is between $844 and $1,032.
Sourced from federal housing data and AffordableHousingOnline.com research.
