Affordable Housing In Grayslake
2 Low Income Apartment Communities In Grayslake
Housing Authorities that serve Grayslake
|Lake County Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency|
Guide To Affordable Housing in Grayslake, Illinois
There are 2 low income housing apartment communities offering 232 affordable apartments for rent in Grayslake, Illinois.
Income Based Apartments in Grayslake, Illinois
Grayslake features 84 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 Grayslake, Illinois
There are 148 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Grayslake.
Housing Choice Vouchers in Grayslake, Illinois
On average, Section 8 Housing Choice vouchers pay Grayslake landlords $800 per month towards rent. The average voucher holder contributes $300 towards rent in Grayslake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Grayslake, Illinois for a two-bedroom apartment is between $1,169 and $1,429.
2021 Grayslake, Illinois Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
|Studio||One BR||Two BR||Three BR||Four BR|
|Grayslake, Illinois Fair Market Rent||$1,012||$1,122||$1,299||$1,649||$1,969|
|Grayslake, Illinois Payment Standard Range||$911 to $1,113||$1,010 to $1,234||$1,169 to $1,429||$1,484 to $1,814||$1,772 to $2,166|
Sourced from federal housing data and AffordableHousingOnline.com research.
Grayslake, IL Affordable Housing Snapshot
|Total Affordable Apartment Properties||2|
|Total Low Income Apartments||232|
|Total Housing Units with Rental Assistance||84|
|Percentage of Housing Units Occupied By Renters||30.63%|
|Average Renter Household Size||2.56|
|Average Household Size||2.74|
|Median Household Income||$81,367 ±$4,566|
|Median Rent||$981 ±$35|
|Percentage Of Renters Overburdened||41.52% ± 6.82pp|
Population and Household Demographics
Grayslake is a city in Lake County, Illinois with a population of 21,117. There are 7,699 households in the city with an average household size of 2.74 persons. 30.63% of households in Grayslake are renters.
Income and Rent Overburden in Grayslake
The median gross income for households in Grayslake is $81,367 a year, or $6,781 a month. The median rent for the city is $981 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Grayslake, a household making less than $3,270 a month would be considered overburdened when renting an apartment at or above the median rent. 41.52% of households who rent are overburdened in Grayslake.
Area Median Income In Grayslake
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 Grayslake, the AMI is calculated from all households within Lake County.
In Grayslake, HUD calculates the Area Median Income for a family of four as $93,200
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 Grayslake
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 HUD Rental Assistance in Grayslake
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Grayslake AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Grayslake AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Grayslake AMI may qualify for rental assistance programs that target Low Income households.