Affordable Housing In Godfrey
Madison County, Illinois

6 Low Income Apartment Communities In Godfrey

Northwood Apartments

323 Big Arch Rd
Godfrey, IL
Subsidized

United Methodist Village

Asbury & Mckendree Dr
Godfrey, IL
HCV Welcome

Dadrian Meadows Apartments II

1233 Surrey Ct
Godfrey, IL
HCV Welcome

Dadrian Meadows Apartments

1230 Preis Ln
Godfrey, IL
HCV Welcome

Umv Affordable Housing

4600 McKendree Dr
Godfrey, IL
HCV Welcome

Preis Lane Apartments

1226 Preis Ln
Godfrey, IL
HCV Welcome
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Housing Authorities that serve Godfrey

Housing Authority Programs
Madison County Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Godfrey, Illinois

According to federal housing data and AffordableHousingOnline.com research, there are 6 low income housing apartment communities offering 253 affordable apartments for rent in Godfrey, Illinois. Godfrey features 100 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 153 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Godfrey.

Godfrey, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 253
Total Housing Units with Rental Assistance 100
Percentage of Housing Units Occupied By Renters 14.89%
Average Renter Household Size 2.22
Average Household Size 2.41
Median Household Income $65,145 ±$6,655
Median Rent $778 ±$84
Percentage Of Renters Overburdened 35.42% ± 11.77pp
Total Population 17,868

Population and Household Demographics

Godfrey is a City in Madison County, Illinois with a population of 17,868. There are 7,281 households in the city with an average household size of 2.41 persons. 14.89% of households in Godfrey are renters.

Income and Rent Overburden in Godfrey

The median gross income for households in Godfrey is $65,145 a year, or $5,429 a month. The median rent for the city is $778 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Godfrey, a household making less than $2,593 a month would be considered overburdened when renting an apartment at or above the median rent. 35.42% of households who rent are overburdened in Godfrey.1

Area Median Income In Godfrey

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Godfrey, the AMI is calculated from all households within Madison County.

In Godfrey, HUD calculates the Area Median Income for a family of four as $81,300

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 Godfrey

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 Godfrey HUD Rental Assistance in Godfrey

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,100 $19,550 $22,000 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $28,500 $32,550 $36,600 $40,650 $43,950 $47,200 $50,450 $53,700
80% of Median $45,550 $52,050 $58,550 $65,050 $70,300 $75,500 $80,700 $85,900
Low Income Housing Tax Credits in Godfrey

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

From 1991 to 2000, 2 low income apartment communities containing 164 rental apartments have been constructed and made affordable to low income persons in Godfrey 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 Godfrey

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $28,500 $32,550 $36,600 $40,650 $43,950 $47,200 $50,450 $53,700
60% of Median $34,200 $39,060 $43,920 $48,780 $52,740 $56,640 $60,540 $64,440

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 Godfrey is $43,920 a year, or $3,660 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,660 by 30% to get a maximum rent of $1,098 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% $713 $763 $915 $1,058 $1,180 $1,302
60% $855 $916 $1,098 $1,269 $1,416 $1,562
Fair Market Rents in Godfrey

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
$633 $701 $905 $1,185 $1,395