Affordable Housing In Bond County
Illinois
Waiting List Openings In Bond County
| Waiting List | Status |
|---|---|
| Menard County Housing Authority Housing Choice Voucher | Open Now |
7 Low Income Apartment Communities In Bond County
- «
- 1
- »
Housing Authorities that serve Bond County
| Housing Authority | Programs |
|---|---|
| Housing Authority of the County of Bond | Public Housing |
| Menard County Housing Authority | Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency; Section 8 Project-Based Voucher (PBV) |
Guide To Affordable Housing in Bond County, Illinois
There are 7 low income housing apartment communities offering 324 affordable apartments for rent in Bond County, Illinois.
Income Based Apartments in Bond County, Illinois
Bond County features 270 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 Bond County, Illinois
There are 54 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bond County.
Housing Choice Vouchers in Bond County, Illinois
On average, Section 8 Housing Choice vouchers pay Bond County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Bond County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Bond County, Illinois for a two-bedroom apartment is between $666 and $814.
2021 Bond County, Illinois Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| Bond County, Illinois Fair Market Rent | $581 | $585 | $740 | $920 | $1,134 |
| Bond County, Illinois Payment Standard Range | $523 to $639 | $527 to $644 | $666 to $814 | $828 to $1,012 | $1,021 to $1,247 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Bond County, IL Affordable Housing Snapshot
| Total Affordable Apartment Properties | 7 |
|---|---|
| Total Low Income Apartments | 324 |
| Total Housing Units with Rental Assistance | 270 |
| Percentage of Housing Units Occupied By Renters | 23.16% |
| Average Renter Household Size | 2.72 |
| Average Household Size | 2.57 |
| Median Household Income | $47,946 ±$3,835 |
| Median Rent | $608 ±$62 |
| Percentage Of Renters Overburdened | 29.71% ± 8.62pp |
| Total Population | 17,313 |
Population and Household Demographics
Bond County is a county in Illinois with a population of 17,313. There are 6,148 households in the county with an average household size of 2.57 persons. 23.16% of households in Bond County are renters.
Income and Rent Overburden in Bond County
The median gross income for households in Bond County is $47,946 a year, or $3,996 a month. The median rent for the county is $608 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bond County, a household making less than $2,027 a month would be considered overburdened when renting an apartment at or above the median rent. 29.71% of households who rent are overburdened in Bond County.
Area Median Income In Bond County
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
In Bond County, HUD calculates the Area Median Income for a family of four as $71,900
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Bond County
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Bond County
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Bond County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$15,100 | $17,250 | $21,720 | $26,200 | $30,680 | $35,160 | $39,640 | $44,120 |
| 50% AMI Income Limits Renters earning up to 50% of the Bond County AMI may qualify for rental assistance programs that target Very Low Income households. |
$25,200 | $28,800 | $32,400 | $35,950 | $38,850 | $41,750 | $44,600 | $47,500 |
| 80% AMI Income Limits Renters earning up to 80% of the Bond County AMI may qualify for rental assistance programs that target Low Income households. |
$40,250 | $46,000 | $51,750 | $57,500 | $62,100 | $66,700 | $71,300 | $75,900 |
Cities In Bond County
Select A City to View its Apartment Communities and Waiting Lists.
