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

Discover affordable housing in Genoa where there are 3+ 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.

Village Green Genoa Apartments

255 E. Railroad Ave, Genoa, Illinois 60135

Chamberlain Park Apartments

201 W. 2nd, Genoa, Illinois 60135

Midland - Genoa Apartments

W 2nd St, Genoa, Illinois 60135

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Genoa, Illinois
$25.13/hour
$11.13 (+80%) more than Illinois minimum wage and $17.88 (+247%) more than the Federal minimum wage.
Learn More About Genoa, Illinois Affordable Housing ↓

What HUD offices serve Genoa, 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 Section 8 Housing Choice Voucher (HCV), Public Housing programs for Genoa, Illinois.

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

How many renters live in Genoa, Illinois?

The City of Genoa has 5,044 people living in 1,947 households.

There are 1,425 renters living in 623 renter households in this City. Renters make up 28.25 percent of the population living in Genoa.

What is the rental market like in Genoa, Illinois?

There are an estimated 1,967 housing units in the Genoa area. Of these, 623 units are rental homes, making up 32 percent of the housing market. For every renter household in Genoa, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Genoa?

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

Occupied Rental Units by Size in Genoa
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 190 238 162 19
Occupied Rental Units by Size in Genoa

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

Among renter households in this market, 44 percent have housing cost burden. Further, 13 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 Genoa

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $899 to $2,252. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $899
One BR $1,014
Two BR $1,327
Three BR $1,870
Four BR $2,252
2024 Fair Market Rents in Genoa, Illinois

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

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 175 92 percent
Two BR 194 82 percent
Rental Units Below FMR in Genoa, Illinois

How many affordable rental units are in Genoa?

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

Federal Program Unit Count
Low Income Housing Tax Credit 24
Section 8 Project-Based Rental Assistance 13
USDA Section 515 Rural Rental Housing 42
Tracked Units by Federal Program in Genoa, Illinois

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

Income Based Apartments in Genoa, Illinois

Genoa features 42 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 Genoa, Illinois

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

Housing Choice Vouchers in Genoa, Illinois

On average, Section 8 Housing Choice vouchers pay Genoa landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Genoa.

The maximum amount a voucher would pay on behalf of a low-income tenant in Genoa, Illinois for a two-bedroom apartment is between $1,194 and $1,460.

Sourced from federal housing data and AffordableHousingOnline.com research.