What HUD offices serve Rolling Meadows, 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 Rolling Meadows.
How many renters live in Rolling Meadows, Illinois?
The City of Rolling Meadows has 24,054 people living in 9,170 households.
There are 7,011 renters living in 2,544 renter households in this City. Renters make up 29.15 percent of the population living in Rolling Meadows.
What is the rental market like in Rolling Meadows, Illinois?
There are an estimated 9,602 housing units in the Rolling Meadows area. Of these, 2,671 units are rental homes, making up 28 percent of the housing market. For every renter household in Rolling Meadows, Illinois, there are 1 rental units.
What is the vacancy rate for rentals in Rolling Meadows?
The rental vacancy rate in Rolling Meadows is 5 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 Rolling Meadows for each bedroom size?
Occupied Rental Units by Size in Rolling Meadows
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 103 | 572 | 1,375 | 373 | 113 |
Occupied Rental Units by Size in Rolling Meadows
A large number of apartments in Rolling Meadows 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 Rolling Meadows are overburdened by housing costs?
Among renter households in this market, 38 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 Rolling Meadows
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,399 to $2,583. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,399 |
| One BR | $1,507 |
| Two BR | $1,714 |
| Three BR | $2,182 |
| Four BR | $2,583 |
2024 Fair Market Rents in Rolling Meadows, Illinois
How many units are rented at Fair Market Rent (FMR) in Rolling Meadows?
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 | 61 | 59 percent |
| One BR | 525 | 92 percent |
| Two BR | 720 | 52 percent |
Rental Units Below FMR in Rolling Meadows, Illinois
How many affordable rental units are in Rolling Meadows?
There are a variety of federal affordable housing programs serving households in Rolling Meadows, Illinois including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 102 |
| Section 8 Project-Based Rental Assistance | 30 |
Tracked Units by Federal Program in Rolling Meadows, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Rolling Meadows, Illinois
Rolling Meadows features 32 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 Rolling Meadows, Illinois
There are 108 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rolling Meadows.
Housing Choice Vouchers in Rolling Meadows, Illinois
On average, Section 8 Housing Choice vouchers pay Rolling Meadows landlords $1,000 per month towards rent. The average voucher holder contributes $500 towards rent in Rolling Meadows.
The maximum amount a voucher would pay on behalf of a low-income tenant in Rolling Meadows, Illinois for a two-bedroom apartment is between $1,543 and $1,885.
Sourced from federal housing data and AffordableHousingOnline.com research.
