What HUD offices serve Gibson City, 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.
Go to the Illinois Public Housing and Low-Income Apartments Waiting Lists page for openings near Gibson City.
How many renters live in Gibson City, Illinois?
The City of Gibson City has 3,615 people living in 1,639 households.
There are 999 renters living in 531 renter households in this City. Renters make up 27.63 percent of the population living in Gibson City.
What is the rental market like in Gibson City, Illinois?
There are an estimated 1,676 housing units in the Gibson City area. Of these, 531 units are rental homes, making up 32 percent of the housing market. For every renter household in Gibson City, Illinois, there are 1 rental units.
What is the vacancy rate for rentals in Gibson City?
The rental vacancy rate in Gibson City 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 Gibson City for each bedroom size?
Occupied Rental Units by Size in Gibson City
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 177 | 204 | 121 | 12 |
Occupied Rental Units by Size in Gibson City
A large number of apartments in Gibson City 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 Gibson City are overburdened by housing costs?
Among renter households in this market, 44 percent have housing cost burden. Further, 26 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 Gibson City
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $553 to $1,075. 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 | $1,071 |
| Four BR | $1,075 |
2024 Fair Market Rents in Gibson City, Illinois
How many units are rented at Fair Market Rent (FMR) in Gibson City?
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 | 124 | 70 percent |
| Two BR | 156 | 76 percent |
Rental Units Below FMR in Gibson City, Illinois
How many affordable rental units are in Gibson City?
There are a variety of federal affordable housing programs serving households in Gibson City, Illinois including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 74 |
| Public Housing | 60 |
| Section 8 Project-Based Rental Assistance | 31 |
| USDA Section 515 Rural Rental Housing | 50 |
Tracked Units by Federal Program in Gibson City, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Gibson City, Illinois
Gibson City features 158 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 Gibson City, Illinois
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Gibson City.
Housing Choice Vouchers in Gibson City, Illinois
On average, Section 8 Housing Choice vouchers pay Gibson City landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Gibson City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Gibson City, Illinois for a two-bedroom apartment is between $726 and $888.
Sourced from federal housing data and AffordableHousingOnline.com research.
