How many renters live in Bolingbrook, Illinois?
The City of Bolingbrook has 75,444 people living in 26,585 households.
There are 14,712 renters living in 5,650 renter households in this City. Renters make up 19.5 percent of the population living in Bolingbrook.
What is the rental market like in Bolingbrook, Illinois?
There are an estimated 24,596 housing units in the Bolingbrook area. Of these, 5,306 units are rental homes, making up 22 percent of the housing market. For every renter household in Bolingbrook, Illinois, there are 1 rental units.
What is the vacancy rate for rentals in Bolingbrook?
The rental vacancy rate in Bolingbrook is 4 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 Bolingbrook for each bedroom size?
Occupied Rental Units by Size in Bolingbrook
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 160 | 1,397 | 1,234 | 1,339 | 841 |
Occupied Rental Units by Size in Bolingbrook
A large number of apartments in Bolingbrook 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 Bolingbrook are overburdened by housing costs?
Among renter households in this market, 44 percent have housing cost burden. Further, 23 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 Bolingbrook
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 Bolingbrook, Illinois
How many units are rented at Fair Market Rent (FMR) in Bolingbrook?
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 | 135 | 84 percent |
| One BR | 859 | 61 percent |
| Two BR | 651 | 53 percent |
Rental Units Below FMR in Bolingbrook, Illinois
How many affordable rental units are in Bolingbrook?
There are a variety of federal affordable housing programs serving households in Bolingbrook, Illinois including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 995 |
| Section 8 Project-Based Rental Assistance | 321 |
| Section 811 Supportive Housing for Persons with Disabilities | 2 |
Tracked Units by Federal Program in Bolingbrook, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Bolingbrook, Illinois
Bolingbrook features 321 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 Bolingbrook, Illinois
There are 999 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bolingbrook.
Housing Choice Vouchers in Bolingbrook, Illinois
On average, Section 8 Housing Choice vouchers pay Bolingbrook landlords $1,300 per month towards rent. The average voucher holder contributes $500 towards rent in Bolingbrook.
The maximum amount a voucher would pay on behalf of a low-income tenant in Bolingbrook, Illinois for a two-bedroom apartment is between $1,543 and $1,885.
Sourced from federal housing data and AffordableHousingOnline.com research.
