What HUD offices serve Wood River, 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 Wood River.
How many renters live in Wood River, Illinois?
The City of Wood River has 10,313 people living in 4,378 households.
There are 3,096 renters living in 1,333 renter households in this City. Renters make up 30.02 percent of the population living in Wood River.
What is the rental market like in Wood River, Illinois?
There are an estimated 4,853 housing units in the Wood River area. Of these, 1,375 units are rental homes, making up 28 percent of the housing market. For every renter household in Wood River, Illinois, there are 1 rental units.
What is the vacancy rate for rentals in Wood River?
The rental vacancy rate in Wood River 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 Wood River for each bedroom size?
Occupied Rental Units by Size in Wood River
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 71 | 198 | 637 | 391 | 36 |
Occupied Rental Units by Size in Wood River
A large number of apartments in Wood River 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 Wood River are overburdened by housing costs?
Among renter households in this market, 52 percent have housing cost burden. Further, 29 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 Wood River
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $928 to $1,818. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $928 |
| One BR | $972 |
| Two BR | $1,209 |
| Three BR | $1,565 |
| Four BR | $1,818 |
2024 Fair Market Rents in Wood River, Illinois
How many units are rented at Fair Market Rent (FMR) in Wood River?
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 | 47 | 66 percent |
| One BR | 170 | 86 percent |
| Two BR | 558 | 88 percent |
Rental Units Below FMR in Wood River, Illinois
How many affordable rental units are in Wood River?
There are a variety of federal affordable housing programs serving households in Wood River, Illinois including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 60 |
| Section 8 Project-Based Rental Assistance | 87 |
Tracked Units by Federal Program in Wood River, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Wood River, Illinois
Wood River features 46 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 Wood River, Illinois
There are 60 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wood River.
Housing Choice Vouchers in Wood River, Illinois
On average, Section 8 Housing Choice vouchers pay Wood River landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Wood River.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wood River, Illinois for a two-bedroom apartment is between $1,088 and $1,330.
Sourced from federal housing data and AffordableHousingOnline.com research.
