What HUD offices serve Petersburg, Virginia?
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 Virginia Public Housing and Low-Income Apartments Waiting Lists page for openings near Petersburg.
How many renters live in Petersburg, Virginia?
The City of Petersburg has 33,261 people living in 14,703 households.
There are 19,682 renters living in 9,200 renter households in this City. Renters make up 59.17 percent of the population living in Petersburg.
What is the rental market like in Petersburg, Virginia?
There are an estimated 17,941 housing units in the Petersburg area. Of these, 10,111 units are rental homes, making up 56 percent of the housing market. For every renter household in Petersburg, Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Petersburg?
The rental vacancy rate in Petersburg is 8 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 Petersburg for each bedroom size?
Occupied Rental Units by Size in Petersburg
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 428 | 2,386 | 3,765 | 2,048 | 456 |
Occupied Rental Units by Size in Petersburg
A large number of apartments in Petersburg 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 Petersburg are overburdened by housing costs?
Among renter households in this market, 46 percent have housing cost burden. Further, 27 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 Petersburg
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,328 to $2,393. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,328 |
| One BR | $1,365 |
| Two BR | $1,532 |
| Three BR | $1,959 |
| Four BR | $2,393 |
2024 Fair Market Rents in Petersburg, Virginia
How many units are rented at Fair Market Rent (FMR) in Petersburg?
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 |
| Studio | 298 | 70 percent |
| One BR | 2,081 | 87 percent |
| Two BR | 3,356 | 89 percent |
Rental Units Below FMR in Petersburg, Virginia
How many affordable rental units are in Petersburg?
There are a variety of federal affordable housing programs serving households in Petersburg, Virginia including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 1,340 |
| Public Housing | 163 |
| Section 8 Project-Based Rental Assistance | 539 |
| USDA Section 515 Rural Rental Housing | 30 |
Tracked Units by Federal Program in Petersburg, Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Petersburg, Virginia
Petersburg features 960 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 Petersburg, Virginia
There are 1,170 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Petersburg.
Housing Choice Vouchers in Petersburg, Virginia
On average, Section 8 Housing Choice vouchers pay Petersburg landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Petersburg.
The maximum amount a voucher would pay on behalf of a low-income tenant in Petersburg, Virginia for a two-bedroom apartment is between $1,379 and $1,685.
Sourced from federal housing data and AffordableHousingOnline.com research.
