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Affordable Housing In Ridge Farm
Vermilion County, Illinois

1 Low Income Apartment Communities In Ridge Farm

Prairie Manor Apts.

200 E Woodyard Ave
Ridge Farm, Illinois
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Housing Authorities that serve Ridge Farm

Housing Authority Programs
Housing Authority of the County of Vermilion Ill. Section 8 Housing Choice Voucher (HCV); Public Housing
Housing Authority of the City of Danville Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH); Family Unification Program (FUP)

Guide To Affordable Housing in Ridge Farm, Illinois

There are 1 low income housing apartment communities offering 10 affordable apartments for rent in Ridge Farm, Illinois.

Income Based Apartments in Ridge Farm, Illinois

Ridge Farm features 10 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 Ridge Farm, Illinois

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

Housing Choice Vouchers in Ridge Farm, Illinois

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Ridge Farm, Illinois for a two-bedroom apartment is between $666 and $814.

2020 Ridge Farm, 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 $482 $572 $740 $969 $1,002
Payment Standard Range $434 to $530 $515 to $629 $666 to $814 $872 to $1,066 $902 to $1,102

Sourced from federal housing data and research.

Ridge Farm, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 10
Total Housing Units with Rental Assistance 10
Percentage of Housing Units Occupied By Renters 22.64%
Average Renter Household Size 1.88
Average Household Size 2.26
Median Household Income $44,844 ±$6,169
Median Rent $483 ±$183
Percentage Of Renters Overburdened 38.1% ± 25.41pp
Total Population 838

Population and Household Demographics

Ridge Farm is a city in Vermilion County, Illinois with a population of 838. There are 371 households in the city with an average household size of 2.26 persons. 22.64% of households in Ridge Farm are renters.

Income and Rent Overburden in Ridge Farm

The median gross income for households in Ridge Farm is $44,844 a year, or $3,737 a month. The median rent for the city is $483 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ridge Farm, a household making less than $1,610 a month would be considered overburdened when renting an apartment at or above the median rent. 38.1% of households who rent are overburdened in Ridge Farm.

Area Median Income In Ridge Farm

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 Ridge Farm, the AMI is calculated from all households within Vermilion County.

In Ridge Farm, HUD calculates the Area Median Income for a family of four as $55,600

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 Ridge Farm

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 Ridge Farm

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,250 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $23,700 $27,100 $30,500 $33,850 $36,600 $39,300 $42,000 $44,700
80% of Median $37,950 $43,350 $48,750 $54,150 $58,500 $62,850 $67,150 $71,500