What HUD offices serve Hanover Park, 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 Hanover Park.
How many renters live in Hanover Park, Illinois?
The City of Hanover Park has 37,222 people living in 11,113 households.
There are 10,409 renters living in 2,752 renter households in this City. Renters make up 27.96 percent of the population living in Hanover Park.
What is the rental market like in Hanover Park, Illinois?
There are an estimated 11,509 housing units in the Hanover Park area. Of these, 2,777 units are rental homes, making up 24 percent of the housing market. For every renter household in Hanover Park, Illinois, there are 1 rental units.
What is the vacancy rate for rentals in Hanover Park?
The rental vacancy rate in Hanover Park is 1 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Hanover Park for each bedroom size?
Occupied Rental Units by Size in Hanover Park
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 61 | 514 | 1,152 | 725 | 245 |
Occupied Rental Units by Size in Hanover Park
A large number of apartments in Hanover Park 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 Hanover Park are overburdened by housing costs?
Among renter households in this market, 49 percent have housing cost burden. Further, 28 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 Hanover Park
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,399 to $2,583. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,399 |
| One BR | $1,507 |
| Two BR | $1,714 |
| Three BR | $2,182 |
| Four BR | $2,583 |
2024 Fair Market Rents in Hanover Park, Illinois
How many units are rented at Fair Market Rent (FMR) in Hanover Park?
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 | 35 | 57 percent |
| One BR | 462 | 90 percent |
| Two BR | 830 | 72 percent |
Rental Units Below FMR in Hanover Park, Illinois
How many affordable rental units are in Hanover Park?
There are a variety of federal affordable housing programs serving households in Hanover Park, Illinois including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 263 |
| Section 8 Project-Based Rental Assistance | 184 |
Tracked Units by Federal Program in Hanover Park, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Hanover Park, Illinois
Hanover Park features 0 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 Hanover Park, Illinois
There are 265 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hanover Park.
Housing Choice Vouchers in Hanover Park, Illinois
On average, Section 8 Housing Choice vouchers pay Hanover Park landlords $1,000 per month towards rent. The average voucher holder contributes $600 towards rent in Hanover Park.
The maximum amount a voucher would pay on behalf of a low-income tenant in Hanover Park, Illinois for a two-bedroom apartment is between $1,543 and $1,885.
Sourced from federal housing data and AffordableHousingOnline.com research.
