Affordable Housing In Ford County

12 Low Income Apartment Communities In Ford County

Meadow Village

601 N State St
Gibson City, IL

Parkview Dwellings

644 E Pells St
Paxton, IL

Gibson Gardens

500 E 13th St
Gibson City, IL

Franklin Street Apartments

656 W Franklin St
Paxton, IL

Scattered Sites

214 E 7th St
Gibson City, IL

Parkview Dwelling

642 E Pells St
Paxton, IL
HCV Welcome

Parkview Dwelling

642 E Pells St
Paxton, IL

Schoolhouse Apartments

200 N Melvin St
Gibson City, IL

Olin Ostendorf Villa Apartments

555 E State St
Paxton, IL

Carlson Terrace

800 S High St
Paxton, IL

Housing Authorities that serve Ford County

Housing Authority Programs
Housing Authority of the County of Ford Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Ford County, Illinois

According to federal housing data and research, there are 12 low income housing apartment communities offering 314 affordable apartments for rent in Ford County, Illinois. Ford County features 266 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 48 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Ford County.

Ford County, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 12
Total Low Income Apartments 314
Total Housing Units with Rental Assistance 266
Percentage of Housing Units Occupied By Renters 25.17%
Average Renter Household Size 2.35
Average Household Size 2.39
Median Household Income $49,947 ±$2,078
Median Rent $611 ±$41
Percentage Of Renters Overburdened 31.57% ± 6.77pp
Total Population 13,835

Population and Household Demographics

Ford County is a County in Illinois with a population of 13,835. There are 5,626 households in the county with an average household size of 2.39 persons. 25.17% of households in Ford County are renters.

Income and Rent Overburden in Ford County

The median gross income for households in Ford County is $49,947 a year, or $4,162 a month. The median rent for the county is $611 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ford County, a household making less than $2,037 a month would be considered overburdened when renting an apartment at or above the median rent. 31.57% of households who rent are overburdened in Ford County.1

Area Median Income In Ford 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 Ford County, HUD calculates the Area Median Income for a family of four as $79,500

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 Ford 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 Ford County HUD Rental Assistance in Ford County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,700 $19,100 $21,500 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $27,850 $31,800 $35,800 $39,750 $42,950 $46,150 $49,300 $52,500
80% of Median $44,550 $50,900 $57,250 $63,600 $68,700 $73,800 $78,900 $84,000
Low Income Housing Tax Credits in Ford County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1993 to 1995, 3 low income apartment communities containing 82 rental apartments have been constructed and made affordable to low income persons in Ford County by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Ford County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $27,850 $31,800 $35,800 $39,750 $42,950 $46,150 $49,300 $52,500
60% of Median $33,420 $38,160 $42,960 $47,700 $51,540 $55,380 $59,160 $63,000

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Ford County is $42,960 a year, or $3,580 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,580 by 30% to get a maximum rent of $1,074 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $696 $746 $895 $1,034 $1,154 $1,273
60% $836 $895 $1,074 $1,241 $1,385 $1,527
Fair Market Rents in Ford County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$725 $730 $862 $1,108 $1,305

Cities In Ford County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Paxton 7 The HUD funded Public Housing Agency that serves Paxton is the Housing Authority of the County of Ford.
Gibson City 5 The HUD funded Public Housing Agency that serves Gibson City is the Housing Authority of the County of Ford.
Cabery 0
Elliott 0
Kempton 0
Melvin 0
Piper City 0
Roberts 0
Sibley 0