Affordable Housing In Richland County
Illinois

8 Low Income Apartment Communities In Richland County

Olney Park Apartments

1002 Parker St
Olney, IL
Call For Rent
1-2 BR

Olney Country Place Apartments

1601 N Silver St.
Olney, IL
Call For Rent
1-2 BR

East Fork Apartments

1201 N East St
Olney, IL
Subsidized

Richland Residences

209 Camp St
Olney, IL
Accessible
Disabled Supportive Housing
Subsidized

Fox River Apartments

1016 Parker St
Olney, IL
HCV Welcome

Countryview Apartments Hr - 485

935 E Lafayette St
Olney, IL
HCV Welcome

Countryview Apartments

802 S Lincoln Ave
Olney, IL
HCV Welcome

Olney

129 E Scott St
Olney, IL
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Housing Authorities that serve Richland County

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

Guide To Affordable Housing in Richland County, Illinois

There are 8 low income housing apartment communities offering 319 affordable apartments for rent in Richland County, Illinois. Richland County features 206 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 113 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Richland County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Richland County, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 319
Total Housing Units with Rental Assistance 206
Percentage of Housing Units Occupied By Renters 28.11%
Average Renter Household Size 2.31
Average Household Size 2.43
Median Household Income $44,127 ±$1,781
Median Rent $533 ±$32
Percentage Of Renters Overburdened 34.96% ± 6.75pp
Total Population 16,127

Population and Household Demographics

Richland County is a County in Illinois with a population of 16,127. There are 6,503 households in the county with an average household size of 2.43 persons. 28.11% of households in Richland County are renters.

Income and Rent Overburden in Richland County

The median gross income for households in Richland County is $44,127 a year, or $3,677 a month. The median rent for the county is $533 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Richland County, a household making less than $1,777 a month would be considered overburdened when renting an apartment at or above the median rent. 34.96% of households who rent are overburdened in Richland County.1

Area Median Income In Richland 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 Richland County, HUD calculates the Area Median Income for a family of four as $60,400

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 Richland 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 Richland County HUD Rental Assistance in Richland County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,950 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,250 $26,550 $29,850 $33,150 $35,850 $38,500 $41,150 $43,800
80% of Median $37,150 $42,450 $47,750 $53,050 $57,300 $61,550 $65,800 $70,050
Low Income Housing Tax Credits in Richland County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 2001 to 2002, 3 low income apartment communities containing 112 rental apartments have been constructed and made affordable to low income persons in Richland County by the Low Income Housing Tax Credit Program.

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 Richland County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,250 $26,550 $29,850 $33,150 $35,850 $38,500 $41,150 $43,800
60% of Median $27,900 $31,860 $35,820 $39,780 $43,020 $46,200 $49,380 $52,560

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 Richland County is $35,820 a year, or $2,985 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,985 by 30% to get a maximum rent of $896 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% $581 $623 $746 $863 $963 $1,062
60% $698 $747 $896 $1,035 $1,155 $1,274
Fair Market Rents in Richland 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
$540 $543 $698 $922 $965

Cities In Richland County

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

City Listings Served By
Olney 8 The HUD funded Public Housing Agency that serves Olney is the Housing Authority of the County of Richland.
Calhoun 0
Claremont 0
Noble 0
Parkersburg 0