How many renters live in Hanna City, Illinois?
The City of Hanna City has 1,417 people living in 762 households.
There are 207 renters living in 142 renter households in this City. Renters make up 14.61 percent of the population living in Hanna City.
What is the rental market like in Hanna City, Illinois?
There are an estimated 817 housing units in the Hanna City area. Of these, 154 units are rental homes, making up 19 percent of the housing market. For every renter household in Hanna City, Illinois, there are 1 rental units.
What is the vacancy rate for rentals in Hanna City?
The rental vacancy rate in Hanna City is 8 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 Hanna City for each bedroom size?
Occupied Rental Units by Size in Hanna City
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 6 | 77 | 45 | 14 | 0 |
Occupied Rental Units by Size in Hanna City
A large number of apartments in Hanna City have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Hanna City are overburdened by housing costs?
Among renter households in this market, 44 percent have housing cost burden. Further, 7 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Hanna City
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $683 to $1,293. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $683 |
| One BR | $756 |
| Two BR | $965 |
| Three BR | $1,258 |
| Four BR | $1,293 |
2024 Fair Market Rents in Hanna City, Illinois
How many units are rented at Fair Market Rent (FMR) in Hanna City?
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 | 0 | 100 percent |
| One BR | 66 | 86 percent |
| Two BR | 22 | 49 percent |
Rental Units Below FMR in Hanna City, Illinois
How many affordable rental units are in Hanna City?
There are a variety of federal affordable housing programs serving households in Hanna City, Illinois including the following:
| Federal Program | Unit Count |
| Section 202 Supportive Housing for the Elderly | 36 |
Tracked Units by Federal Program in Hanna City, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Hanna City, Illinois
Hanna City features 36 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 Hanna City, Illinois
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hanna City.
Housing Choice Vouchers in Hanna City, Illinois
On average, Section 8 Housing Choice vouchers pay Hanna City landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Hanna City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Hanna City, Illinois for a two-bedroom apartment is between $869 and $1,062.
Sourced from federal housing data and AffordableHousingOnline.com research.
