Affordable Housing In Marshall County
Illinois

4 Low Income Apartment Communities In Marshall County

Indian Town Home Association

429 Finfgeld Cir
Henry, IL
62+
Accessible
Elderly Supportive Housing
Subsidized

Henry Home Association

200 Stoner Dr
Henry, IL
Subsidized

River Valley Apartments

705 S Prairie St
Lacon, IL
Subsidized

Monte Cassino Villa CO Professional Prop

101 E Via Ghighieri
Toluca, IL
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There are 4 low income housing apartment complexes which contain 106 affordable apartments for rent in Marshall County. Many of these rental apartments are income based housing with 66 apartments that set rent based on your income. In Marshall County, HUD housing programs support 24 rental assistance apartments through programs like Project-based Section 8. There are 40 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Guide To Affordable Housing in Marshall County, Illinois

Marshall County, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 106
Total Rent Assisted Apartments 66
Percentage of Housing Units Occupied By Renters 16.78%
Average Renter Household Size 2.16
Total Population 12,173
Housing Units 4,993
Average Household Size 2.38
Median Household Income $53,423 ±$1,419
Median Rent $646 ±$47
Percentage Of Renters Overburdened 37.71% ± 7.18pp

Population and Household Demographics

Marshall County is a County in Illinois with a population of 12,173. There are 4,993 households in the county with an average household size of 2.38 persons. 16.78% of households in Marshall County are renters.

Income and Rent Overburden in Marshall County

The median gross income for households in Marshall County is $53,423 a year, or $4,452 a month. The median rent for the county is $646 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Marshall County, a household making less than $2,153 a month would be considered overburdened when renting an apartment at or above the median rent. 37.71% of households who rent are overburdened in Marshall County.1

Area Median Income In Marshall 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 Marshall County, HUD calculates the Area Median Income for a family of four as $76,900

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 Marshall 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 Marshall County HUD Rental Assistance in Marshall County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,150 $18,450 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $26,950 $30,800 $34,650 $38,450 $41,550 $44,650 $47,700 $50,800
80% of Median $43,050 $49,200 $55,350 $61,500 $66,450 $71,350 $76,300 $81,200
Low Income Housing Tax Credits in Marshall County

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

From 1994 to 1994, 1 low income apartment communities containing 18 rental apartments have been constructed and made affordable to low income persons in Marshall 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 Marshall County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $32,340 $36,960 $41,580 $46,140 $49,860 $53,580 $57,240 $60,960

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 Marshall County is $41,580 a year, or $3,465 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,465 by 30% to get a maximum rent of $1,040 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.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $674 $722 $866 $1,000 $1,116 $1,231
60% $809 $866 $1,040 $1,200 $1,340 $1,478
Fair Market Rents in Marshall 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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$573 $629 $798 $1,022 $1,151

Cities In Marshall County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Toluca 1
Henry 2
Washburn 0
Lacon 1
La Rose 0
Sparland 0
Varna 0
Hopewell 0