Affordable Housing In Ridgway
Gallatin County, Illinois

2 Low Income Apartment Communities In Ridgway

405 S Combs St

405 S Combs St
Ridgway, IL

Sherman Street

109 N Sherman St
Ridgway, IL
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Guide To Affordable Housing in Ridgway, Illinois

There are 2 low income housing apartment communities offering 97 affordable apartments for rent in Ridgway, Illinois. Ridgway features 97 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 Ridgway.

Sourced from federal housing data and AffordableHousingOnline.com research.

Ridgway, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 97
Total Housing Units with Rental Assistance 97
Percentage of Housing Units Occupied By Renters 21.84%
Average Renter Household Size 1.59
Average Household Size 1.95
Median Household Income $36,458 ±$4,289
Median Rent $407 ±$206
Percentage Of Renters Overburdened 36.67% ± 27.57pp
Total Population 804

Population and Household Demographics

Ridgway is a City in Gallatin County, Illinois with a population of 804. There are 412 households in the city with an average household size of 1.95 persons. 21.84% of households in Ridgway are renters.

Income and Rent Overburden in Ridgway

The median gross income for households in Ridgway is $36,458 a year, or $3,038 a month. The median rent for the city is $407 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ridgway, a household making less than $1,357 a month would be considered overburdened when renting an apartment at or above the median rent. 36.67% of households who rent are overburdened in Ridgway.1

Area Median Income In Ridgway

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 Ridgway, the AMI is calculated from all households within Gallatin County.

In Ridgway, HUD calculates the Area Median Income for a family of four as $52,900

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 Ridgway

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 Ridgway HUD Rental Assistance in Ridgway

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
Fair Market Rents in Ridgway

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
$474 $613 $698 $994 $997