Affordable Housing In Granite City
Madison County, Illinois

11 Low Income Apartment Communities In Granite City

Edison Avenue Lofts

2001 Edison Ave
Granite City, IL
$525-750
1-2 BR
HCV Welcome

Parkside Apartments

2520 Parkview Dr
Granite City, IL
Subsidized

Town and Country Apartments ( Ihda )

2562 Parkview Dr
Granite City, IL
Subsidized

Vintage Gardens Apartments

24th & Adams
Granite City, IL
HCV Welcome

Kirkpatrick Homes

501 Kirkpatrick Homes
Granite City, IL

Anchorage Homes

2901 E 25th St
Granite City, IL

Anchorage

2913 E 25th St
Granite City, IL

Granite City Commons

2688 David Morgan Dr
Granite City, IL

Granite City Green Community

2703 E 25th St
Granite City, IL

Mainstay Center

1218 19th St
Granite City, IL
HCV Welcome

Housing Authorities that serve Granite City

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

Guide To Affordable Housing in Granite City, Illinois

There are 11 low income housing apartment communities offering 632 affordable apartments for rent in Granite City, Illinois. Granite City features 568 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 64 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Granite City.

Sourced from federal housing data and AffordableHousingOnline.com research.

Granite City, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 11
Total Low Income Apartments 632
Total Housing Units with Rental Assistance 568
Percentage of Housing Units Occupied By Renters 33.04%
Average Renter Household Size 2.24
Average Household Size 2.37
Median Household Income $45,357 ±$3,081
Median Rent $637 ±$39
Percentage Of Renters Overburdened 46.66% ± 6.37pp
Total Population 29,421

Population and Household Demographics

Granite City is a City in Madison County, Illinois with a population of 29,421. There are 12,308 households in the city with an average household size of 2.37 persons. 33.04% of households in Granite City are renters.

Income and Rent Overburden in Granite City

The median gross income for households in Granite City is $45,357 a year, or $3,780 a month. The median rent for the city is $637 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Granite City, a household making less than $2,123 a month would be considered overburdened when renting an apartment at or above the median rent. 46.66% of households who rent are overburdened in Granite City.1

Area Median Income In Granite City

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 Granite City, the AMI is calculated from all households within Madison County.

In Granite City, 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 Granite City

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 Granite City HUD Rental Assistance in Granite City

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 Granite City

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

From 1998 to 2002, 3 low income apartment communities containing 64 rental apartments have been constructed and made affordable to low income persons in Granite City 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 Granite City

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 Granite City 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 Granite City

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