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Affordable Housing In Paxton
Ford County, Illinois

6 Low Income Apartment Communities In Paxton

Parkview Dwellings

644 E Pells St
Paxton, Illinois
Subsidized

Franklin Street Apartments

656 W Franklin St
Paxton, Illinois
Subsidized

Parkview Dwelling

642 E Pells St
Paxton, Illinois

Olin Ostendorf Villa Apartments

555 E State St
Paxton, Illinois
Subsidized

Carlson Terrace

800 S High St
Paxton, Illinois
Subsidized

Paxton Village Apartments

311 Prospect Ave
Paxton, Illinois
Subsidized
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Housing Authorities that serve Paxton

Housing Authority Programs
Housing Authority of the County of Ford Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Paxton, Illinois

There are 6 low income housing apartment communities offering 148 affordable apartments for rent in Paxton, Illinois.

Income Based Apartments in Paxton, Illinois

Paxton features 124 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 Paxton, Illinois

There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Paxton.

Housing Choice Vouchers in Paxton, Illinois

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Paxton, Illinois for a two-bedroom apartment is between $776 and $948.

2020 Paxton, 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 $725 $730 $862 $1,108 $1,305
Payment Standard Range $653 to $798 $657 to $803 $776 to $948 $997 to $1,219 $1,175 to $1,436

Sourced from federal housing data and AffordableHousingOnline.com research.

Paxton, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 148
Total Housing Units with Rental Assistance 124
Percentage of Housing Units Occupied By Renters 22.07%
Average Renter Household Size 1.92
Average Household Size 2.28
Median Household Income $49,072 ±$3,377
Median Rent $569 ±$35
Percentage Of Renters Overburdened 24.81% ± 12.74pp
Total Population 4,252

Population and Household Demographics

Paxton is a city in Ford County, Illinois with a population of 4,252. There are 1,772 households in the city with an average household size of 2.28 persons. 22.07% of households in Paxton are renters.

Income and Rent Overburden in Paxton

The median gross income for households in Paxton is $49,072 a year, or $4,089 a month. The median rent for the city is $569 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Paxton, a household making less than $1,897 a month would be considered overburdened when renting an apartment at or above the median rent. 24.81% of households who rent are overburdened in Paxton.

Area Median Income In Paxton

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 Paxton, the AMI is calculated from all households within Ford County.

In Paxton, HUD calculates the Area Median Income for a family of four as $83,600

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 Paxton

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 HUD Rental Assistance in Paxton

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,600 $20,100 $22,600 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $29,300 $33,450 $37,650 $41,800 $45,150 $48,500 $51,850 $55,200
80% of Median $46,850 $53,550 $60,250 $66,900 $72,300 $77,650 $83,000 $88,350