Low Income Apartments and Affordable Housing For Rent in Cerro Gordo, IL

Discover affordable housing in Cerro Gordo where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Prairie Homes II Bement

106 W Park St, Cerro Gordo, Illinois 61929

payment Subsidized

How To Identify Affordable Housing in Cerro Gordo, Illinois

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Cerro Gordo, Illinois
$19.87/hour
$5.87 (+42%) more than Illinois minimum wage and $12.62 (+174%) more than the Federal minimum wage.
Learn More About Cerro Gordo, Illinois Affordable Housing ↓

What HUD offices serve Cerro Gordo, 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.

Operates the Public Housing programs for Cerro Gordo, Illinois.

Go to the Illinois Public Housing and Low-Income Apartments Waiting Lists page for openings near Cerro Gordo.

How many renters live in Cerro Gordo, Illinois?

The City of Cerro Gordo has people living in households.

There are renters living in renter households in this City. Renters make up 27.29 percent of the population living in Cerro Gordo.

What is the rental market like in Cerro Gordo, Illinois?

There are an estimated housing units in the Cerro Gordo area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Cerro Gordo, Illinois, there are 1.07 rental units.

What is the vacancy rate for rentals in Cerro Gordo?

The rental vacancy rate in Cerro Gordo is 6 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 Cerro Gordo for each bedroom size?

Occupied Rental Units by Size in Cerro Gordo
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 20 56 58 17
Occupied Rental Units by Size in Cerro Gordo

A large number of apartments in Cerro Gordo 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 Cerro Gordo

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $880 to $1,397. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $880
One BR $885
Two BR $1,049
Three BR $1,372
Four BR $1,397
2024 Fair Market Rents in Cerro Gordo, Illinois

How many units are rented at Fair Market Rent (FMR) in Cerro Gordo?

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
One BR 19 95 percent
Two BR 32 57 percent
Rental Units Below FMR in Cerro Gordo, Illinois

How many affordable rental units are in Cerro Gordo?

There are a variety of federal affordable housing programs serving households in Cerro Gordo, Illinois including the following:

Federal Program Unit Count
Public Housing
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Cerro Gordo, Illinois

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Cerro Gordo, Illinois

Cerro Gordo features 60 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 Cerro Gordo, Illinois

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cerro Gordo.

Housing Choice Vouchers in Cerro Gordo, Illinois

On average, Section 8 Housing Choice vouchers pay Cerro Gordo landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Cerro Gordo.

The maximum amount a voucher would pay on behalf of a low-income tenant in Cerro Gordo, Illinois for a two-bedroom apartment is between $944 and $1,154.

Sourced from federal housing data and AffordableHousingOnline.com research.

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