Low Income Apartments and Affordable Housing For Rent in Melrose Park, IL

Discover affordable housing in Melrose Park where there are 4+ 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.

Heritage House Apartments

10315 W Palmer Ave, Melrose Park, Illinois 60164

A Safe Haven Veterans Village

101 North 15th Avenue, Melrose Park, Illinois 60160

Victory Centre of Melrose

1800 Riverwoods Dr, Melrose Park, Illinois 60160

Victory Centre of Melrose Prk

8303 W North Ave, Melrose Park, Illinois 60423

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Melrose Park, Illinois
$32.46/hour
$18.46 (+132%) more than Illinois minimum wage and $25.21 (+348%) more than the Federal minimum wage.
Learn More About Melrose Park, Illinois Affordable Housing ↓

What HUD offices serve Melrose Park, 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, Section 8 Project-Based Voucher (PBV) programs for Melrose Park, Illinois.

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

How many renters live in Melrose Park, Illinois?

The City of Melrose Park has 25,177 people living in 8,104 households.

There are 10,979 renters living in 3,641 renter households in this City. Renters make up 43.61 percent of the population living in Melrose Park.

What is the rental market like in Melrose Park, Illinois?

There are an estimated 8,739 housing units in the Melrose Park area. Of these, 3,845 units are rental homes, making up 44 percent of the housing market. For every renter household in Melrose Park, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Melrose Park?

The rental vacancy rate in Melrose Park is 5 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 Melrose Park for each bedroom size?

Occupied Rental Units by Size in Melrose Park
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
121 1,112 1,160 1,165 71
Occupied Rental Units by Size in Melrose Park

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

Among renter households in this market, 34 percent have housing cost burden. Further, 13 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 Melrose Park

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,399 to $2,583. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,399
One BR $1,507
Two BR $1,714
Three BR $2,182
Four BR $2,583
2024 Fair Market Rents in Melrose Park, Illinois

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

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 112 93 percent
One BR 1,100 99 percent
Two BR 985 85 percent
Rental Units Below FMR in Melrose Park, Illinois

How many affordable rental units are in Melrose Park?

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

Federal Program Unit Count
Low Income Housing Tax Credit 98
Tracked Units by Federal Program in Melrose Park, Illinois

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

Income Based Apartments in Melrose Park, Illinois

Melrose Park features 0 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 Melrose Park, Illinois

There are 384 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Melrose Park.

Housing Choice Vouchers in Melrose Park, Illinois

On average, Section 8 Housing Choice vouchers pay Melrose Park landlords $1,000 per month towards rent. The average voucher holder contributes $400 towards rent in Melrose Park.

The maximum amount a voucher would pay on behalf of a low-income tenant in Melrose Park, Illinois for a two-bedroom apartment is between $1,543 and $1,885.

Sourced from federal housing data and AffordableHousingOnline.com research.