How many renters live in Henry, Illinois?
The City of Henry has people living in households.
There are renters living in renter households in this City. Renters make up 25.37 percent of the population living in Henry.
What is the rental market like in Henry, Illinois?
There are an estimated housing units in the Henry area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Henry, Illinois, there are 1 rental units.
What is the vacancy rate for rentals in Henry?
The rental vacancy rate in Henry is 0 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 Henry for each bedroom size?
Occupied Rental Units by Size in Henry
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 39 | 40 | 90 | 113 | 1 |
Occupied Rental Units by Size in Henry
A large number of apartments in Henry have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Henry
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 Henry, Illinois
How many units are rented at Fair Market Rent (FMR) in Henry?
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 | 39 | 100 percent |
| One BR | 40 | 100 percent |
| Two BR | 83 | 92 percent |
Rental Units Below FMR in Henry, Illinois
How many affordable rental units are in Henry?
There are a variety of federal affordable housing programs serving households in Henry, Illinois including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly |
Tracked Units by Federal Program in Henry, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Henry, Illinois
Henry features 48 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 Henry, Illinois
There are 30 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Henry.
Housing Choice Vouchers in Henry, Illinois
On average, Section 8 Housing Choice vouchers pay Henry landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Henry.
The maximum amount a voucher would pay on behalf of a low-income tenant in Henry, Illinois for a two-bedroom apartment is between $869 and $1,062.
Sourced from federal housing data and AffordableHousingOnline.com research.