Low Income Apartments and Affordable Housing For Rent in Mound City, IL

Discover affordable housing in Mound City 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.

Market Square

627 High St, Mound City, Illinois 62963

Karnak Apartments

201 Illinois Ave, Mound City, Illinois 62963

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Mound City, 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 Mound City, Illinois Affordable Housing ↓

What HUD offices serve Mound 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.

Operates the Section 8 Housing Choice Voucher (HCV), Family Self-Sufficiency, Section 8 Project-Based Voucher (PBV) programs for Mound City, Illinois.
Operates the Public Housing programs for Mound City, Illinois.

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

How many renters live in Mound City, Illinois?

The City of Mound City has 798 people living in 232 households.

There are 484 renters living in 129 renter households in this City. Renters make up 60.65 percent of the population living in Mound City.

What is the rental market like in Mound City, Illinois?

There are an estimated 318 housing units in the Mound City area. Of these, 160 units are rental homes, making up 50 percent of the housing market. For every renter household in Mound City, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Mound City?

The rental vacancy rate in Mound City 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 Mound City for each bedroom size?

Occupied Rental Units by Size in Mound City
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
31 15 19 61 3
Occupied Rental Units by Size in Mound City

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

Among renter households in this market, 29 percent have housing cost burden. Further, 16 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 Mound City

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $557 to $1,369. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $557
One BR $658
Two BR $807
Three BR $1,137
Four BR $1,369
2024 Fair Market Rents in Mound City, Illinois

How many units are rented at Fair Market Rent (FMR) in Mound 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
Studio 26 84 percent
One BR 14 93 percent
Two BR 19 100 percent
Rental Units Below FMR in Mound City, Illinois

How many affordable rental units are in Mound City?

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

Federal Program Unit Count
Low Income Housing Tax Credit 8
Public Housing 49
Section 8 Project-Based Rental Assistance 24
Tracked Units by Federal Program in Mound City, Illinois

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

Income Based Apartments in Mound City, Illinois

Mound City features 24 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 Mound City, Illinois

There are 8 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mound City.

Housing Choice Vouchers in Mound City, Illinois

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.