Affordable Housing In Menard County
Illinois

8 Low Income Apartment Communities In Menard County

Petersburg

209 E Sheridan Rd
Petersburg, IL

County Estates

101 W Sheridan Rd
Petersburg, IL
HCV Welcome

Schland III

Lincolnwood Estates
Petersburg, IL
HCV Welcome

Athens Apartments

600 N Mayflower Ct
Athens, IL
Subsidized

Single - Family Home 614 N 7th St

614 N 7th St
Petersburg, IL

Schland I

113 W Jackson St
Petersburg, IL
HCV Welcome

Schland II

611 N 6th St
Petersburg, IL
HCV Welcome

Prairie Place

802 N Bunchberry Ct
Athens, IL
HCV Welcome
  • «
  • 1
  • »

There are 8 low income housing apartment complexes which contain 259 affordable apartments for rent in Menard County. Many of these rental apartments are income based housing with 171 apartments that set rent based on your income. In Menard County, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 88 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Menard County

Housing Authority Programs
Menard County Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Menard County, Illinois

Menard County, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 259
Total Rent Assisted Apartments 171
Percentage of Housing Units Occupied By Renters 22.26%
Average Renter Household Size 2.37
Total Population 12,611
Housing Units 5,144
Average Household Size 2.42
Median Household Income $60,486 ±$2,754
Median Rent $647 ±$56
Percentage Of Renters Overburdened 31.62% ± 6.84pp

Population and Household Demographics

Menard County is a County in Illinois with a population of 12,611. There are 5,144 households in the county with an average household size of 2.42 persons. 22.26% of households in Menard County are renters.

Income and Rent Overburden in Menard County

The median gross income for households in Menard County is $60,486 a year, or $5,041 a month. The median rent for the county is $647 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Menard County, a household making less than $2,157 a month would be considered overburdened when renting an apartment at or above the median rent. 31.62% of households who rent are overburdened in Menard County.1

Area Median Income In Menard 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 Menard County, HUD calculates the Area Median Income for a family of four as $76,400

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 Menard 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 Menard County HUD Rental Assistance in Menard County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,050 $18,350 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $26,750 $30,600 $34,400 $38,200 $41,300 $44,350 $47,400 $50,450
80% of Median $42,800 $48,900 $55,000 $61,100 $66,000 $70,900 $75,800 $80,700
Low Income Housing Tax Credits in Menard County

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

From 2002 to 2007, 2 low income apartment communities containing 80 rental apartments have been constructed and made affordable to low income persons in Menard 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 Menard County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $26,750 $30,600 $34,400 $38,200 $41,300 $44,350 $47,400 $50,450
60% of Median $32,100 $36,720 $41,280 $45,840 $49,560 $53,220 $56,880 $60,540

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 Menard County is $41,280 a year, or $3,440 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,440 by 30% to get a maximum rent of $1,032 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% $669 $717 $860 $994 $1,109 $1,223
60% $803 $860 $1,032 $1,193 $1,331 $1,468
Fair Market Rents in Menard 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 $657 $846 $1,074 $1,144

Cities In Menard County

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

City Listings Served By
Athens 2 The HUD funded Public Housing Agency that serves Athens is the Menard County Housing Authority.
Petersburg 6 The HUD funded Public Housing Agency that serves Petersburg is the Menard County Housing Authority.
Greenview 0
Lake Petersburg 0
Tallula 0
Oakford 0