Affordable Housing In Oak Park
Cook County, Illinois

5 Low Income Apartment Communities In Oak Park

TCB Oak Park Apartments

801 S Oak Park Ave
Oak Park, IL
Call For Rent
Studio-2 BR
Accepts Vouchers

The Oaks

114 S Humphrey Ave
Oak Park, IL
Subsidized
62+
Accessible
Elderly Supportive Housing

Ryan Farrelly Apartments

435 S Humphrey Ave
Oak Park, IL
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Heritage House Apartments, Llc

201 Lake St
Oak Park, IL
Subsidized

Mills Park Towers

1025 Pleasant Pl
Oak Park, IL
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Housing Authorities that serve Oak Park

Housing Authority Programs
Oak Park Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Oak Park, Illinois

There are 5 low income housing apartment communities offering 533 affordable apartments for rent in Oak Park, Illinois.

Income Based Apartments in Oak Park, Illinois

Oak Park features 496 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 Oak Park, Illinois

There are 37 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Oak Park.

Housing Choice Vouchers in Oak Park, Illinois

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Oak Park, Illinois for a two-bedroom apartment is between $1,123 and $1,373.

2020 Oak Park, Illinois Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $956 $1,076 $1,248 $1,585 $1,888
Payment Standard Range $860 to $1,052 $968 to $1,184 $1,123 to $1,373 $1,427 to $1,744 $1,699 to $2,077

Sourced from federal housing data and AffordableHousingOnline.com research.

Oak Park, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 533
Total Housing Units with Rental Assistance 496
Percentage of Housing Units Occupied By Renters 40.73%
Average Renter Household Size 1.85
Average Household Size 2.39
Median Household Income $80,196 ±$3,948
Median Rent $1,033 ±$44
Percentage Of Renters Overburdened 44.41% ± 3.51pp
Total Population 52,080

Population and Household Demographics

Oak Park is a City in Cook County, Illinois with a population of 52,080. There are 21,612 households in the city with an average household size of 2.39 persons. 40.73% of households in Oak Park are renters.

Income and Rent Overburden in Oak Park

The median gross income for households in Oak Park is $80,196 a year, or $6,683 a month. The median rent for the city is $1,033 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Oak Park, a household making less than $3,443 a month would be considered overburdened when renting an apartment at or above the median rent. 44.41% of households who rent are overburdened in Oak Park.1

Area Median Income In Oak Park

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Oak Park, the AMI is calculated from all households within Cook County.

In Oak Park, HUD calculates the Area Median Income for a family of four as $89,100

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 Oak Park

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 Oak Park HUD Rental Assistance in Oak Park

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $18,750 $21,400 $24,100 $26,750 $30,170 $34,590 $39,010 $43,430
50% of Median $31,200 $35,650 $40,100 $44,550 $48,150 $51,700 $55,250 $58,850
80% of Median $49,950 $57,050 $64,200 $71,300 $77,050 $82,750 $88,450 $94,150