Low Income Apartments and Affordable Housing For Rent in Albion, IL

Discover affordable housing in Albion where there are 2+ 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.

Brookwood Apartments

375 E Elm St, Albion, Illinois 62806

Flower Garden Court

149 W Cherry St, Albion, Illinois 62806

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Albion, Illinois
$15.28/hour
$1.28 (+9%) more than Illinois minimum wage and $8.03 (+111%) more than the Federal minimum wage.
Learn More About Albion, Illinois Affordable Housing ↓

What HUD offices serve Albion, Illinois?

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 Public Housing programs for Albion, Illinois.

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

How many renters live in Albion, Illinois?

The City of Albion has 2,136 people living in 873 households.

There are 797 renters living in 301 renter households in this City. Renters make up 37.31 percent of the population living in Albion.

What is the rental market like in Albion, Illinois?

There are an estimated 942 housing units in the Albion area. Of these, 301 units are rental homes, making up 32 percent of the housing market. For every renter household in Albion, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Albion?

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

Occupied Rental Units by Size in Albion
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
5 65 97 100 34
Occupied Rental Units by Size in Albion

A large number of apartments in Albion 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 Albion are overburdened by housing costs?

Among renter households in this market, 50 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 Albion

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $553 to $1,369. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $553
One BR $614
Two BR $807
Three BR $976
Four BR $1,369
2024 Fair Market Rents in Albion, Illinois

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

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 5 100 percent
One BR 53 82 percent
Two BR 28 29 percent
Rental Units Below FMR in Albion, Illinois

How many affordable rental units are in Albion?

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

Federal Program Unit Count
Public Housing 34
Section 8 Project-Based Rental Assistance 10
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Albion, Illinois

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

Income Based Apartments in Albion, Illinois

Albion features 61 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 Albion, Illinois

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

Housing Choice Vouchers in Albion, Illinois

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Albion, Illinois for a two-bedroom apartment is between $726 and $888.

Sourced from federal housing data and AffordableHousingOnline.com research.