What HUD offices serve Prospect Heights, 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.
Go to the Illinois Public Housing and Low-Income Apartments Waiting Lists page for openings near Prospect Heights.
How many renters live in Prospect Heights, Illinois?
The City of Prospect Heights has people living in households.
There are renters living in renter households in this City. Renters make up 35.99 percent of the population living in Prospect Heights.
What is the rental market like in Prospect Heights, Illinois?
There are an estimated housing units in the Prospect Heights area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Prospect Heights, Illinois, there are 1.02 rental units.
What is the vacancy rate for rentals in Prospect Heights?
The rental vacancy rate in Prospect Heights is 2 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 Prospect Heights for each bedroom size?
Occupied Rental Units by Size in Prospect Heights
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 88 | 742 | 1,129 | 168 | 10 |
Occupied Rental Units by Size in Prospect Heights
A large number of apartments in Prospect Heights have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Prospect Heights
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,399 to $2,583. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,399 |
| One BR | $1,507 |
| Two BR | $1,714 |
| Three BR | $2,182 |
| Four BR | $2,583 |
2024 Fair Market Rents in Prospect Heights, Illinois
How many units are rented at Fair Market Rent (FMR) in Prospect Heights?
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 | 30 | 34 percent |
| One BR | 694 | 94 percent |
| Two BR | 816 | 72 percent |
Rental Units Below FMR in Prospect Heights, Illinois
How many affordable rental units are in Prospect Heights?
There are a variety of federal affordable housing programs serving households in Prospect Heights, Illinois including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit |
Tracked Units by Federal Program in Prospect Heights, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Prospect Heights, Illinois
Prospect Heights features 0 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 Prospect Heights, Illinois
There are 6 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Prospect Heights.
Housing Choice Vouchers in Prospect Heights, Illinois
On average, Section 8 Housing Choice vouchers pay Prospect Heights landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Prospect Heights.
The maximum amount a voucher would pay on behalf of a low-income tenant in Prospect Heights, Illinois for a two-bedroom apartment is between $1,543 and $1,885.
Sourced from federal housing data and AffordableHousingOnline.com research.