Affordable Housing In Madison County
Illinois

78 Low Income Apartment Communities In Madison County

Housing Authorities that serve Madison County

Other Housing Authorities located in Madison County

Guide To Affordable Housing in Madison County, Illinois

There are 78 low income housing apartment communities offering 3,995 affordable apartments for rent in Madison County, Illinois. Madison County features 2,740 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 1,255 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Madison County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Madison County, IL Affordable Housing Snapshot

Population and Household Demographics

Madison County is a County in Illinois with a population of 267,356. There are 107,111 households in the county with an average household size of 2.45 persons. 29.1% of households in Madison County are renters.

Income and Rent Overburden in Madison County

The median gross income for households in Madison County is $53,431 a year, or $4,453 a month. The median rent for the county is $778 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Madison County, a household making less than $2,593 a month would be considered overburdened when renting an apartment at or above the median rent. 44.79% of households who rent are overburdened in Madison County.¹

Area Median Income In Madison County

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.

In Madison County, HUD calculates the Area Median Income for a family of four as $81,300

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 Madison County

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 Madison County HUD Rental Assistance in Madison County

Low Income Housing Tax Credits in Madison County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1991 to 2008, 26 low income apartment communities containing 1,268 rental apartments have been constructed and made affordable to low income persons in Madison County by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Madison County

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Madison County is $43,920 a year, or $3,660 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,660 by 30% to get a maximum rent of $1,098 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

Fair Market Rents in Madison County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents