What HUD offices serve Prince George, 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 Prince George.
How many renters live in Prince George, Virginia?
The City of Prince George has 1,964 people living in 706 households.
There are 1,073 renters living in 324 renter households in this City. Renters make up 54.63 percent of the population living in Prince George.
What is the rental market like in Prince George, Virginia?
There are an estimated 706 housing units in the Prince George area. Of these, 324 units are rental homes, making up 46 percent of the housing market. For every renter household in Prince George, Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Prince George?
The rental vacancy rate in Prince George 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 Prince George for each bedroom size?
Occupied Rental Units by Size in Prince George
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 44 | 280 | 0 |
Occupied Rental Units by Size in Prince George
A large number of apartments in Prince George 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 Prince George are overburdened by housing costs?
Among renter households in this market, 10 percent have housing cost burden. Further, 7 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 Prince George
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 Prince George, Virginia
How many units are rented at Fair Market Rent (FMR) in Prince George?
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 |
| Two BR | 44 | 100 percent |
Rental Units Below FMR in Prince George, Virginia
How many affordable rental units are in Prince George?
There are a variety of federal affordable housing programs serving households in Prince George, Virginia including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 72 |
Tracked Units by Federal Program in Prince George, Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Prince George, Virginia
Prince George 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 Prince George, Virginia
There are 324 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Prince George.
Housing Choice Vouchers in Prince George, Virginia
On average, Section 8 Housing Choice vouchers pay Prince George landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Prince George.
The maximum amount a voucher would pay on behalf of a low-income tenant in Prince George, Virginia for a two-bedroom apartment is between $1,379 and $1,685.
Sourced from federal housing data and AffordableHousingOnline.com research.
