Affordable Housing In Piatt County

4 Low Income Apartment Communities In Piatt County

Bement Apartments

565 N Morgan St
Bement, IL
Call For Rent
1-2 BR

Quality Housing Hammond

701 S Don Ryan St
Hammond, IL

Prairie Homes II Bement

106 W Park St
Cerro Gordo, IL

Meadows 20

415 W William St
Monticello, IL
  • «
  • 1
  • »

Housing Authorities that serve Piatt County

Housing Authority Programs
Housing Authority of Piatt County Public Housing

Guide To Affordable Housing in Piatt County, Illinois

There are 4 low income housing apartment communities offering 100 affordable apartments for rent in Piatt County, Illinois. Piatt County features 100 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Piatt County.

Sourced from federal housing data and research.

Piatt County, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 100
Total Housing Units with Rental Assistance 100
Percentage of Housing Units Occupied By Renters 16.49%
Average Renter Household Size 2.21
Average Household Size 2.47
Median Household Income $66,261 ±$4,430
Median Rent $745 ±$35
Percentage Of Renters Overburdened 31.93% ± 6.08pp
Total Population 16,495

Population and Household Demographics

Piatt County is a County in Illinois with a population of 16,495. There are 6,645 households in the county with an average household size of 2.47 persons. 16.49% of households in Piatt County are renters.

Income and Rent Overburden in Piatt County

The median gross income for households in Piatt County is $66,261 a year, or $5,522 a month. The median rent for the county is $745 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Piatt County, a household making less than $2,483 a month would be considered overburdened when renting an apartment at or above the median rent. 31.93% of households who rent are overburdened in Piatt County.1

Area Median Income In Piatt 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 Piatt County, HUD calculates the Area Median Income for a family of four as $79,500

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 Piatt 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 Piatt County HUD Rental Assistance in Piatt County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,700 $19,100 $21,500 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $27,850 $31,800 $35,800 $39,750 $42,950 $46,150 $49,300 $52,500
80% of Median $44,550 $50,900 $57,250 $63,600 $68,700 $73,800 $78,900 $84,000

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 Piatt County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $27,850 $31,800 $35,800 $39,750 $42,950 $46,150 $49,300 $52,500
60% of Median $33,420 $38,160 $42,960 $47,700 $51,540 $55,380 $59,160 $63,000

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 Piatt County is $42,960 a year, or $3,580 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,580 by 30% to get a maximum rent of $1,074 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% $696 $746 $895 $1,034 $1,154 $1,273
60% $836 $895 $1,074 $1,241 $1,385 $1,527
Fair Market Rents in Piatt 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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$725 $730 $862 $1,108 $1,305

Cities In Piatt County

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

City Listings Served By
Bement 1 The HUD funded Public Housing Agency that serves Bement is the Housing Authority of Piatt County.
Hammond 1 The HUD funded Public Housing Agency that serves Hammond is the Housing Authority of Piatt County.
Monticello 1 The HUD funded Public Housing Agency that serves Monticello is the Housing Authority of Piatt County.
Cerro Gordo 1 The HUD funded Public Housing Agency that serves Cerro Gordo is the Housing Authority of Piatt County.
Cisco 0
De Land 0
LaPlace 0
Mansfield 0
White Heath 0