What HUD offices serve Algonquin, 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 Algonquin.
How many renters live in Algonquin, Illinois?
The City of Algonquin has people living in households.
There are renters living in renter households in this City. Renters make up 11.25 percent of the population living in Algonquin.
What is the rental market like in Algonquin, Illinois?
There are an estimated housing units in the Algonquin area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Algonquin, Illinois, there are 1 rental units.
What is the vacancy rate for rentals in Algonquin?
The rental vacancy rate in Algonquin is 0 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 Algonquin for each bedroom size?
Occupied Rental Units by Size in Algonquin
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 48 | 548 | 487 | 344 | 68 |
Occupied Rental Units by Size in Algonquin
A large number of apartments in Algonquin have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Algonquin
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 Algonquin, Illinois
How many units are rented at Fair Market Rent (FMR) in Algonquin?
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 | 45 | 94 percent |
| One BR | 306 | 56 percent |
| Two BR | 106 | 22 percent |
Rental Units Below FMR in Algonquin, Illinois
How many affordable rental units are in Algonquin?
Income Based Apartments in Algonquin, Illinois
Algonquin features 0 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 Algonquin, Illinois
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Algonquin.
Housing Choice Vouchers in Algonquin, Illinois
On average, Section 8 Housing Choice vouchers pay Algonquin landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Algonquin.
The maximum amount a voucher would pay on behalf of a low-income tenant in Algonquin, Illinois for a two-bedroom apartment is between $1,543 and $1,885.
Sourced from federal housing data and AffordableHousingOnline.com research.