Low Income Apartments and Affordable Housing For Rent in Putnam County, IL

Discover affordable housing in Putnam County 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.

Standard Apts

200 N. School, Standard, Illinois

Hawthorne Heights

213 S Hawthorne St, Granville, Illinois 61326

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Putnam County, Illinois
$15.42/hour
$1.42 (+10%) more than Illinois minimum wage and $8.17 (+113%) more than the Federal minimum wage.
Learn More About Putnam County, Illinois Affordable Housing ↓

How many renters live in Putnam County, Illinois?

The County of Putnam County has 5,628 people living in 2,400 households.

There are 950 renters living in 426 renter households in this County. Renters make up 16.88 percent of the population living in Putnam County.

What is the rental market like in Putnam County, Illinois?

There are an estimated 3,071 housing units in the Putnam County area. Of these, 441 units are rental homes, making up 14 percent of the housing market. For every renter household in Putnam County, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Putnam County?

The rental vacancy rate in Putnam County is 3 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 Putnam County for each bedroom size?

Occupied Rental Units by Size in Putnam County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
4 111 208 57 21
Occupied Rental Units by Size in Putnam County

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

Among renter households in this market, 33 percent have housing cost burden. Further, 18 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 Putnam County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $552 to $1,381. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $552
One BR $677
Two BR $814
Three BR $1,059
Four BR $1,381
2024 Fair Market Rents in Putnam County, Illinois

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

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 4 100 percent
One BR 58 52 percent
Two BR 105 50 percent
Rental Units Below FMR in Putnam County, Illinois

How many affordable rental units are in Putnam County?

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

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 26
Tracked Units by Federal Program in Putnam County, Illinois

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

Income Based Apartments in Putnam County, Illinois

Putnam County features 26 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 Putnam County, Illinois

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

Housing Choice Vouchers in Putnam County, Illinois

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Putnam County, Illinois for a two-bedroom apartment is between $733 and $895.

Sourced from federal housing data and AffordableHousingOnline.com research.