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Affordable Housing In Indianola
Vermilion County, Illinois

Housing Authorities that serve Indianola

Housing Authority Programs
Vermilion Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH); Family Unification Program (FUP)

Guide To Affordable Housing in Indianola, Illinois

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Indianola, Illinois.

Income Based Apartments in Indianola, Illinois

Indianola 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 Indianola, Illinois

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Indianola.

Housing Choice Vouchers in Indianola, Illinois

On average, Section 8 Housing Choice vouchers pay Indianola landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Indianola.

The maximum amount a voucher would pay on behalf of a low-income tenant in Indianola, Illinois for a two-bedroom apartment is between $709 and $867.

2021 Indianola, 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
Indianola, Illinois Fair Market Rent $524 $598 $788 $1,037 $1,069
Indianola, Illinois Payment Standard Range $472 to $576 $538 to $658 $709 to $867 $933 to $1,141 $962 to $1,176

Sourced from federal housing data and AffordableHousingOnline.com research.

Indianola, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 10.57%
Average Renter Household Size 3.38
Average Household Size 2.99
Median Household Income $50,938 ±$15,134
Median Rent $642 ±$140
Percentage Of Renters Overburdened 15.38% ± 147.89pp
Total Population 368

Population and Household Demographics

Indianola is a city in Vermilion County, Illinois with a population of 368. There are 123 households in the city with an average household size of 2.99 persons. 10.57% of households in Indianola are renters.

Income and Rent Overburden in Indianola

The median gross income for households in Indianola is $50,938 a year, or $4,245 a month. The median rent for the city is $642 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Indianola, a household making less than $2,140 a month would be considered overburdened when renting an apartment at or above the median rent. 15.38% of households who rent are overburdened in Indianola.

Area Median Income In Indianola

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 Indianola, the AMI is calculated from all households within Vermilion County.

In Indianola, HUD calculates the Area Median Income for a family of four as $55,600

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 Indianola

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 Indianola

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 Indianola AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,250 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% AMI Income Limits
Renters earning up to 50% of the Indianola AMI may qualify for rental assistance programs that target Very Low Income households.
$23,700 $27,100 $30,500 $33,850 $36,600 $39,300 $42,000 $44,700
80% AMI Income Limits
Renters earning up to 80% of the Indianola AMI may qualify for rental assistance programs that target Low Income households.
$37,950 $43,350 $48,750 $54,150 $58,500 $62,850 $67,150 $71,500