Low Income Apartments and Affordable Housing For Rent in Plano, IL

Discover affordable housing in Plano where there are 2+ 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.

Deer Run Apartments

250 Louis Street, Plano, Illinois 60545

Kingsfield Apartments

300 Louis St, Plano, Illinois 60545

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Plano, Illinois
$32.97/hour
$18.97 (+136%) more than Illinois minimum wage and $25.72 (+355%) more than the Federal minimum wage.
Learn More About Plano, Illinois Affordable Housing ↓

What HUD offices serve Plano, 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), Family Self-Sufficiency, Veteran Affairs Supportive Housing (VASH), Section 8 Project-Based Voucher (PBV), Homeownership programs for Plano, Illinois.
Operates the Section 8 Housing Choice Voucher (HCV), Mainstream Voucher programs for Plano, Illinois.

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

How many renters live in Plano, Illinois?

The City of Plano has 11,113 people living in 3,829 households.

There are 3,890 renters living in 1,229 renter households in this City. Renters make up 35 percent of the population living in Plano.

What is the rental market like in Plano, Illinois?

There are an estimated 4,097 housing units in the Plano area. Of these, 1,229 units are rental homes, making up 30 percent of the housing market. For every renter household in Plano, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Plano?

The rental vacancy rate in Plano is 0 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 Plano for each bedroom size?

Occupied Rental Units by Size in Plano
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
19 161 389 540 64
Occupied Rental Units by Size in Plano

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

Among renter households in this market, 39 percent have housing cost burden. Further, 12 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 Plano

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,180 to $2,564. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,180
One BR $1,325
Two BR $1,741
Three BR $2,453
Four BR $2,564
2024 Fair Market Rents in Plano, Illinois

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

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 19 100 percent
One BR 151 94 percent
Two BR 361 93 percent
Rental Units Below FMR in Plano, Illinois

How many affordable rental units are in Plano?

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

Federal Program Unit Count
Low Income Housing Tax Credit 42
Section 8 Project-Based Rental Assistance 7
USDA Section 515 Rural Rental Housing 42
Tracked Units by Federal Program in Plano, Illinois

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

Income Based Apartments in Plano, Illinois

Plano features 42 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 Plano, Illinois

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Plano.

Housing Choice Vouchers in Plano, Illinois

On average, Section 8 Housing Choice vouchers pay Plano landlords $2,000 per month towards rent. The average voucher holder contributes $500 towards rent in Plano.

The maximum amount a voucher would pay on behalf of a low-income tenant in Plano, Illinois for a two-bedroom apartment is between $1,567 and $1,915.

Sourced from federal housing data and AffordableHousingOnline.com research.