Madison Senior Apartments

1601 Market St, Madison, IL 62060

Waiting List Forecast: Likely Short or None

check_circleVerified for 2023 by Colleen Carter, Ric Gresia
Rent Beds Baths SqFt
Call for Rents Floorplan Info Upon Request - -
check_circle  Accepts Section 8 Housing Choice Vouchers (HCV)
check_circle  Affordable

Waitlist Forecast

Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.

Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.

Dave's Thoughts On Madison Senior Apartments

Because Madison Senior Apartments participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. Depending on the number of HOME-designated units, additional units may have even lower household income requirements and corresponding lower rent caps.

Dave, Founder AHO

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Madison Senior Apartments

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
AMI* 1 person 2 people 3 people 4 people 5 people 6 people 7 people 8 people
50% AMI for LIHTC Units $35,200 / year $40,200 / year $45,250 / year $50,250 / year $54,300 / year $58,300 / year $62,350 / year $66,350 / year
50% AMI for PBRA Units $35,200 / year $40,200 / year $45,250 / year $50,250 / year $54,300 / year $58,300 / year $62,350 / year $66,350 / year
60% AMI for LIHTC Units $42,240 / year $48,240 / year $54,300 / year $60,300 / year $65,160 / year $69,960 / year $74,820 / year $79,620 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Madison Senior Apartments

Does Madison Senior Apartments have a waiting list?

Madison Senior Apartments probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Madison Senior Apartments?

We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.

In addition to Madison Senior Apartments, how many other affordable housing properties (and units) are there in Madison?

In addition to Madison Senior Apartments, we list 10 other affordable properties in Madison. Learn about these properties here. Our data research shows that there are a total of 215 affordable units in Madison.

When was the Madison Senior Apartments listing last updated?

Madison Senior Apartments listing on Affordable Housing Online was last updated on 01/03/2023 by Colleen Carter. Remember, a property's status can change so you should contact the property to confirm.

Listings Near Madison Senior Apartments

Gateway Apartments-John Hamm lll

1676 Market St, Madison, Illinois 62060

Chestnut Mainstay II

1411 6th St, Madison, Illinois 62060

Washington Avenue Apartments

Market St And Washington Ave, Madison, Illinois 62060

Washington Avenue Apartments

1636 Market St, Madison, Illinois 62060

Greenwood Senior Apartments

1026 Greenwood St, Madison, Illinois 62060

Chestnut Madison Recovery

604 State St, Madison, Illinois 62060

Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.