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

Discover affordable housing in Mahomet where there are 3+ 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.

Meadowview Apartments

2006 Middletown Dr, Mahomet, Illinois 61853

Hillcrest Apartments

300 N Dianne Ln, Mahomet, Illinois 61853

The Manor at Prairie Crossing

601, 603, and 605 N. Prairieview Road, Mahomet, Illinois 61853

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Mahomet, Illinois
$19.87/hour
$5.87 (+42%) more than Illinois minimum wage and $12.62 (+174%) more than the Federal minimum wage.
Learn More About Mahomet, Illinois Affordable Housing ↓

What HUD offices serve Mahomet, 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), Moving to Work, Veteran Affairs Supportive Housing (VASH), Section 8 Project-Based Voucher (PBV), Mainstream Voucher, Rental Assistance Demonstration (RAD), Homeownership programs for Mahomet, Illinois.

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

How many renters live in Mahomet, Illinois?

The City of Mahomet has 9,545 people living in 3,150 households.

There are 1,002 renters living in 478 renter households in this City. Renters make up 10.5 percent of the population living in Mahomet.

What is the rental market like in Mahomet, Illinois?

There are an estimated 3,508 housing units in the Mahomet area. Of these, 676 units are rental homes, making up 19 percent of the housing market. For every renter household in Mahomet, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Mahomet?

The rental vacancy rate in Mahomet is 29 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Mahomet for each bedroom size?

Occupied Rental Units by Size in Mahomet
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 46 212 177 35
Occupied Rental Units by Size in Mahomet

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

Among renter households in this market, 40 percent have housing cost burden. Further, 20 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 Mahomet

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $880 to $1,397. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $880
One BR $885
Two BR $1,049
Three BR $1,372
Four BR $1,397
2024 Fair Market Rents in Mahomet, Illinois

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

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
One BR 40 87 percent
Two BR 124 58 percent
Rental Units Below FMR in Mahomet, Illinois

How many affordable rental units are in Mahomet?

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

Federal Program Unit Count
Low Income Housing Tax Credit 16
USDA Section 515 Rural Rental Housing 16
Tracked Units by Federal Program in Mahomet, Illinois

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

Income Based Apartments in Mahomet, Illinois

Mahomet features 34 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 Mahomet, Illinois

There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mahomet.

Housing Choice Vouchers in Mahomet, Illinois

On average, Section 8 Housing Choice vouchers pay Mahomet landlords $300 per month towards rent. The average voucher holder contributes $0 towards rent in Mahomet.

The maximum amount a voucher would pay on behalf of a low-income tenant in Mahomet, Illinois for a two-bedroom apartment is between $944 and $1,154.

Sourced from federal housing data and AffordableHousingOnline.com research.