Low Income Apartments and Affordable Housing For Rent in Prosper, TX

Discover affordable housing in Prosper where there are 6+ 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.

Royalton at Creeks of Legacy

4420 S Legacy Dr, Prosper, Texas 75078

bed 1-3
payment $1370-2008/mo.

Highfield Preston

4465 S Preston Rd, Prosper, Texas 75078

bed 1
payment $1316/mo.

Prosper Elms Apartments

634 N Teel Pky, Prosper, Texas 75078

bed 1
payment $1350/mo.

Orion Prosper Lakes Apartments

880 S Coit Rd, Prosper, Texas 75078

bed 1
payment $1452/mo.

Prosper Crossings

4400 Prairie Crossing Dr, Prosper, Texas 75078

bed 1-2
payment $1264-1648/mo.

Lakeview at the Gates of Prosper

961 Gateway Dr, Prosper, Texas 75078

bed 1
payment $1485/mo.

How To Identify Affordable Housing in Prosper, Texas

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.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
calendar_today Opened: Jan 21
Open Until Further Notice
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Reported On February 23rd, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Prosper, Texas
$33.30/hour
$26.05 (+359%) more than Texas minimum wage and $26.05 (+359%) more than the Federal minimum wage.
Learn More About Prosper, Texas Affordable Housing ↓

What HUD offices serve Prosper, Texas?

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, Section 8 Project-Based Voucher (PBV), Mainstream Voucher programs for Prosper, Texas.

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

How many renters live in Prosper, Texas?

The City of Prosper has people living in households.

There are renters living in renter households in this City. Renters make up 9.6 percent of the population living in Prosper.

What is the rental market like in Prosper, Texas?

There are an estimated housing units in the Prosper area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Prosper, Texas, there are 1.14 rental units.

What is the vacancy rate for rentals in Prosper?

The rental vacancy rate in Prosper 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 Prosper for each bedroom size?

Occupied Rental Units by Size in Prosper
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
24 252 301 218 156
Occupied Rental Units by Size in Prosper

A large number of apartments in Prosper have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Prosper

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,426 to $2,847. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,426
One BR $1,500
Two BR $1,758
Three BR $2,212
Four BR $2,847
2024 Fair Market Rents in Prosper, Texas

How many units are rented at Fair Market Rent (FMR) in Prosper?

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 7 29 percent
One BR 161 64 percent
Two BR 40 13 percent
Rental Units Below FMR in Prosper, Texas

How many affordable rental units are in Prosper?

Income Based Apartments in Prosper, Texas

Prosper 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 Prosper, Texas

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Prosper.

Housing Choice Vouchers in Prosper, Texas

On average, Section 8 Housing Choice vouchers pay Prosper landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Prosper.

The maximum amount a voucher would pay on behalf of a low-income tenant in Prosper, Texas for a two-bedroom apartment is between $1,582 and $1,934.

Sourced from federal housing data and AffordableHousingOnline.com research.

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