What HUD offices serve Franklin Grove, 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.
Go to the Illinois Public Housing and Low-Income Apartments Waiting Lists page for openings near Franklin Grove.
How many renters live in Franklin Grove, Illinois?
The City of Franklin Grove has people living in households.
There are renters living in renter households in this City. Renters make up 34.57 percent of the population living in Franklin Grove.
What is the rental market like in Franklin Grove, Illinois?
There are an estimated housing units in the Franklin Grove area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Franklin Grove, Illinois, there are 1.1 rental units.
What is the vacancy rate for rentals in Franklin Grove?
The rental vacancy rate in Franklin Grove is 9 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 Franklin Grove for each bedroom size?
Occupied Rental Units by Size in Franklin Grove
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 19 | 34 | 30 | 61 | 3 |
Occupied Rental Units by Size in Franklin Grove
A large number of apartments in Franklin Grove 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 Franklin Grove
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $553 to $1,188. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $553 |
| One BR | $710 |
| Two BR | $807 |
| Three BR | $1,137 |
| Four BR | $1,188 |
2024 Fair Market Rents in Franklin Grove, Illinois
How many units are rented at Fair Market Rent (FMR) in Franklin Grove?
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 | 19 | 100 percent |
| One BR | 22 | 65 percent |
| Two BR | 16 | 53 percent |
Rental Units Below FMR in Franklin Grove, Illinois
How many affordable rental units are in Franklin Grove?
There are a variety of federal affordable housing programs serving households in Franklin Grove, Illinois including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Franklin Grove, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Franklin Grove, Illinois
Franklin Grove features 12 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 Franklin Grove, Illinois
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin Grove.
Housing Choice Vouchers in Franklin Grove, Illinois
On average, Section 8 Housing Choice vouchers pay Franklin Grove landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Franklin Grove.
The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin Grove, Illinois for a two-bedroom apartment is between $726 and $888.
Sourced from federal housing data and AffordableHousingOnline.com research.