Low Income Apartments and Affordable Housing For Rent in Lincoln, IL

Discover affordable housing in Lincoln where there are 8+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Lincoln Northside Apartments

2305-2325 Railsplitter, Lincoln, Illinois 62656

Lincoln Village Apartments

1000 N College St, Lincoln, Illinois 62656

Brainard Landings Apartments, Phase II

1103 N State St, Lincoln, Illinois 62656

Brainard Landings Apartments

1100 Monroe St, Lincoln, Illinois 62656

Centennial Court

181 Centennial Ct, Lincoln, Illinois 62656

Friendship Manor

925 Primm Rd, Lincoln, Illinois 62656

Leonard Estates

501 College Ave, Lincoln, Illinois 62656

Leonard Estates Apartments

517 N College St, Lincoln, Illinois 62656

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lincoln, Illinois
$15.98/hour
$1.98 (+14%) more than Illinois minimum wage and $8.73 (+120%) more than the Federal minimum wage.
Learn More About Lincoln, Illinois Affordable Housing ↓

What HUD offices serve Lincoln, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Lincoln, Illinois.

Go to the Illinois Public Housing and Low-Income Apartments Waiting Lists page for openings near Lincoln.

How many renters live in Lincoln, Illinois?

The City of Lincoln has 13,371 people living in 5,947 households.

There are 4,310 renters living in 2,272 renter households in this City. Renters make up 32.23 percent of the population living in Lincoln.

What is the rental market like in Lincoln, Illinois?

There are an estimated 6,338 housing units in the Lincoln area. Of these, 2,328 units are rental homes, making up 37 percent of the housing market. For every renter household in Lincoln, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Lincoln?

The rental vacancy rate in Lincoln 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 Lincoln for each bedroom size?

Occupied Rental Units by Size in Lincoln
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
47 782 1,063 279 47
Occupied Rental Units by Size in Lincoln

A large number of apartments in Lincoln 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 Lincoln are overburdened by housing costs?

Among renter households in this market, 43 percent have housing cost burden. Further, 18 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 Lincoln

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $662 to $1,124. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $662
One BR $666
Two BR $844
Three BR $1,109
Four BR $1,124
2024 Fair Market Rents in Lincoln, Illinois

How many units are rented at Fair Market Rent (FMR) in Lincoln?

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 5 11 percent
One BR 540 69 percent
Two BR 529 50 percent
Rental Units Below FMR in Lincoln, Illinois

How many affordable rental units are in Lincoln?

There are a variety of federal affordable housing programs serving households in Lincoln, Illinois including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 139
Public Housing 193
Section 8 Project-Based Rental Assistance 148
USDA Section 515 Rural Rental Housing 80
Tracked Units by Federal Program in Lincoln, Illinois

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Lincoln, Illinois

Lincoln features 397 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 Lincoln, Illinois

There are 136 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lincoln.

Housing Choice Vouchers in Lincoln, Illinois

On average, Section 8 Housing Choice vouchers pay Lincoln landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in Lincoln.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lincoln, Illinois for a two-bedroom apartment is between $760 and $928.

Sourced from federal housing data and AffordableHousingOnline.com research.