What HUD offices serve Prudenville, Michigan?
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 Michigan Public Housing and Low-Income Apartments Waiting Lists page for openings near Prudenville.
How many renters live in Prudenville, Michigan?
The City of Prudenville has 1,412 people living in 675 households.
There are 373 renters living in 173 renter households in this City. Renters make up 26.42 percent of the population living in Prudenville.
What is the rental market like in Prudenville, Michigan?
There are an estimated 1,467 housing units in the Prudenville area. Of these, 194 units are rental homes, making up 13 percent of the housing market. For every renter household in Prudenville, Michigan, there are 1 rental units.
What is the vacancy rate for rentals in Prudenville?
The rental vacancy rate in Prudenville is 11 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 Prudenville for each bedroom size?
Occupied Rental Units by Size in Prudenville
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 151 | 15 | 7 |
Occupied Rental Units by Size in Prudenville
A large number of apartments in Prudenville 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 Prudenville are overburdened by housing costs?
Among renter households in this market, 59 percent have housing cost burden. Further, 20 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 Prudenville
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $684 to $1,312. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $684 |
| One BR | $689 |
| Two BR | $905 |
| Three BR | $1,182 |
| Four BR | $1,312 |
2024 Fair Market Rents in Prudenville, Michigan
How many units are rented at Fair Market Rent (FMR) in Prudenville?
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 | 67 | 44 percent |
Rental Units Below FMR in Prudenville, Michigan
How many affordable rental units are in Prudenville?
There are a variety of federal affordable housing programs serving households in Prudenville, Michigan including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 24 |
Tracked Units by Federal Program in Prudenville, Michigan
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Prudenville, Michigan
Prudenville features 20 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 Prudenville, Michigan
There are 72 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Prudenville.
Housing Choice Vouchers in Prudenville, Michigan
On average, Section 8 Housing Choice vouchers pay Prudenville landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Prudenville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Prudenville, Michigan for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
