What HUD offices serve Ridge Farm, 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 Ridge Farm.
How many renters live in Ridge Farm, Illinois?
The City of Ridge Farm has 927 people living in 363 households.
There are 319 renters living in 120 renter households in this City. Renters make up 34.41 percent of the population living in Ridge Farm.
What is the rental market like in Ridge Farm, Illinois?
There are an estimated 397 housing units in the Ridge Farm area. Of these, 130 units are rental homes, making up 33 percent of the housing market. For every renter household in Ridge Farm, Illinois, there are 1 rental units.
What is the vacancy rate for rentals in Ridge Farm?
The rental vacancy rate in Ridge Farm is 8 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 Ridge Farm for each bedroom size?
Occupied Rental Units by Size in Ridge Farm
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 15 | 28 | 45 | 32 | 0 |
Occupied Rental Units by Size in Ridge Farm
A large number of apartments in Ridge Farm 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 Ridge Farm are overburdened by housing costs?
Among renter households in this market, 23 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 Ridge Farm
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $691 to $1,273. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $691 |
| One BR | $728 |
| Two BR | $956 |
| Three BR | $1,191 |
| Four BR | $1,273 |
2024 Fair Market Rents in Ridge Farm, Illinois
How many units are rented at Fair Market Rent (FMR) in Ridge Farm?
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 | 8 | 53 percent |
| One BR | 23 | 82 percent |
| Two BR | 34 | 76 percent |
Rental Units Below FMR in Ridge Farm, Illinois
How many affordable rental units are in Ridge Farm?
There are a variety of federal affordable housing programs serving households in Ridge Farm, Illinois including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 10 |
Tracked Units by Federal Program in Ridge Farm, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Ridge Farm, Illinois
Ridge Farm features 10 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 Ridge Farm, Illinois
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ridge Farm.
Housing Choice Vouchers in Ridge Farm, Illinois
On average, Section 8 Housing Choice vouchers pay Ridge Farm landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ridge Farm.
The maximum amount a voucher would pay on behalf of a low-income tenant in Ridge Farm, Illinois for a two-bedroom apartment is between $860 and $1,052.
Sourced from federal housing data and AffordableHousingOnline.com research.
