Low Income Apartments and Affordable Housing For Rent in Colona, IL

Discover affordable housing in Colona 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.

One Rhf Home 921 Cypress Dr

921 Cypress Dr, Colona, Illinois 61241

payment Subsidized
accessibility Accessible

How To Identify Affordable Housing in Colona, 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.
calendar_today Opened: Sep 18
Open Until Further Notice
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Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Colona, Illinois
$18.05/hour
$4.05 (+29%) more than Illinois minimum wage and $10.80 (+149%) more than the Federal minimum wage.
Learn More About Colona, Illinois Affordable Housing ↓

What HUD offices serve Colona, 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 Section 8 Housing Choice Voucher (HCV), Public Housing programs for Colona, Illinois.

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

How many renters live in Colona, Illinois?

The City of Colona has people living in households.

There are renters living in renter households in this City. Renters make up 17.86 percent of the population living in Colona.

What is the rental market like in Colona, Illinois?

There are an estimated housing units in the Colona area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Colona, Illinois, there are 1.09 rental units.

What is the vacancy rate for rentals in Colona?

The rental vacancy rate in Colona is 8 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Colona for each bedroom size?

Occupied Rental Units by Size in Colona
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 65 249 54 25
Occupied Rental Units by Size in Colona

A large number of apartments in Colona 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 Colona

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $646 to $1,437. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $646
One BR $773
Two BR $953
Three BR $1,247
Four BR $1,437
2024 Fair Market Rents in Colona, Illinois

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

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 38 58 percent
Two BR 187 75 percent
Rental Units Below FMR in Colona, Illinois

How many affordable rental units are in Colona?

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

Federal Program Unit Count
Public Housing
Tracked Units by Federal Program in Colona, Illinois

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

Income Based Apartments in Colona, Illinois

Colona features 1 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 Colona, Illinois

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

Housing Choice Vouchers in Colona, Illinois

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Colona, Illinois for a two-bedroom apartment is between $858 and $1,048.

Sourced from federal housing data and AffordableHousingOnline.com research.

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