Low Income Apartments and Affordable Housing For Rent in Prescott, AR

Discover affordable housing in Prescott where there are 7+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Hawthorne Apartments

615 E 3rd St S, Prescott, Arkansas 71857

Nevada County Group Home

678 Hatley Ave, Prescott, Arkansas 71857

Martin Place II Apartments

508 Martin St, Prescott, Arkansas 71857

Prescott Apartments

420 E 6th St S, Prescott, Arkansas 71857

Prescott, City Of

Walter Acres Subdivis, Prescott, Arkansas 71857

North Terrace Addition

700 High Meadow St, Prescott, Arkansas 71857

Pre Ark Housing ( Fka Prescott Scattered )

654 Hatley Ave, Prescott, Arkansas 71857

How To Identify Affordable Housing in Prescott, Arkansas

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Prescott, Arkansas
$5.69 (+52%) more than Arkansas minimum wage and $9.44 (+130%) more than the Federal minimum wage.
Learn More About Prescott, Arkansas Affordable Housing ↓

What HUD offices serve Prescott, Arkansas?

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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Prescott, Arkansas.

Go to the Arkansas Public Housing and Low-Income Apartments Waiting Lists page for openings near Prescott.

How many renters live in Prescott, Arkansas?

The City of Prescott has 3,079 people living in 1,160 households.

There are 1,594 renters living in 731 renter households in this City. Renters make up 51.77 percent of the population living in Prescott.

What is the rental market like in Prescott, Arkansas?

There are an estimated 1,584 housing units in the Prescott area. Of these, 928 units are rental homes, making up 59 percent of the housing market. For every renter household in Prescott, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Prescott?

The rental vacancy rate in Prescott is 21 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 81 242 387 21
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, 69 percent have housing cost burden. Further, 18 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 $653 to $1,243. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $653
One BR $671
Two BR $881
Three BR $1,065
Four BR $1,243
2024 Fair Market Rents in Prescott, Arkansas

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
One BR 81 100 percent
Two BR 123 51 percent
Rental Units Below FMR in Prescott, Arkansas

How many affordable rental units are in Prescott?

There are a variety of federal affordable housing programs serving households in Prescott, Arkansas including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 72
Public Housing 101
Section 8 Project-Based Rental Assistance 10
USDA Section 515 Rural Rental Housing 50
Tracked Units by Federal Program in Prescott, Arkansas

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Prescott, Arkansas

Prescott features 164 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, Arkansas

There are 36 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Prescott.

Housing Choice Vouchers in Prescott, Arkansas

On average, Section 8 Housing Choice vouchers pay Prescott landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Prescott.

The maximum amount a voucher would pay on behalf of a low-income tenant in Prescott, Arkansas for a two-bedroom apartment is between $793 and $969.

Sourced from federal housing data and AffordableHousingOnline.com research.