What HUD offices serve Prescott, Wisconsin?
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 Wisconsin Public Housing and Low-Income Apartments Waiting Lists page for openings near Prescott.
How many renters live in Prescott, Wisconsin?
The City of Prescott has 4,343 people living in 1,910 households.
There are 1,181 renters living in 650 renter households in this City. Renters make up 27.19 percent of the population living in Prescott.
What is the rental market like in Prescott, Wisconsin?
There are an estimated 2,052 housing units in the Prescott area. Of these, 713 units are rental homes, making up 35 percent of the housing market. For every renter household in Prescott, Wisconsin, there are 1 rental units.
What is the vacancy rate for rentals in Prescott?
The rental vacancy rate in Prescott is 9 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 Prescott for each bedroom size?
Occupied Rental Units by Size in Prescott
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 556 | 77 | 17 |
Occupied Rental Units by Size in Prescott
A large number of apartments in Prescott 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 Prescott are overburdened by housing costs?
Among renter households in this market, 52 percent have housing cost burden. Further, 14 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 Prescott
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,174 to $2,478. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,174 |
| One BR | $1,327 |
| Two BR | $1,622 |
| Three BR | $2,188 |
| Four BR | $2,478 |
2024 Fair Market Rents in Prescott, Wisconsin
How many units are rented at Fair Market Rent (FMR) in Prescott?
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 | 504 | 91 percent |
Rental Units Below FMR in Prescott, Wisconsin
How many affordable rental units are in Prescott?
There are a variety of federal affordable housing programs serving households in Prescott, Wisconsin including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 24 |
| Section 8 Project-Based Rental Assistance | 29 |
| USDA Section 515 Rural Rental Housing | 48 |
Tracked Units by Federal Program in Prescott, Wisconsin
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Prescott, Wisconsin
Prescott features 48 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 Prescott, Wisconsin
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Prescott.
Housing Choice Vouchers in Prescott, Wisconsin
On average, Section 8 Housing Choice vouchers pay Prescott landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Prescott.
The maximum amount a voucher would pay on behalf of a low-income tenant in Prescott, Wisconsin for a two-bedroom apartment is between $1,460 and $1,784.
Sourced from federal housing data and AffordableHousingOnline.com research.
