Rolling Meadows, Illinois Affordable Housing

Waiting Lists in Rolling Meadows, Illinois

There are no open Section 8 Housing Choice Voucher waiting lists in Rolling Meadows. Go to the Illinois Section 8 Waiting Lists page for openings near Rolling Meadows.

Public Housing Agencies Serving Rolling Meadows, 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.

Rolling Meadows, Illinois Affordable Housing Data

Income Based Apartments in Rolling Meadows, Illinois

Rolling Meadows features 32 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 Rolling Meadows, Illinois

There are 108 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rolling Meadows.

Housing Choice Vouchers in Rolling Meadows, Illinois

On average, Section 8 Housing Choice vouchers pay Rolling Meadows landlords $1,000 per month towards rent. The average voucher holder contributes $500 towards rent in Rolling Meadows.

The maximum amount a voucher would pay on behalf of a low-income tenant in Rolling Meadows, Illinois for a two-bedroom apartment is between $1,296 and $1,584.

2023 Rolling Meadows, 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.

Sourced from federal housing data and AffordableHousingOnline.com research.

Rolling Meadows, IL Affordable Housing Snapshot

Population and Household Demographics

Rolling Meadows is a city in Cook County, Illinois with a population of 23,401. There are 8,983 households in the city with an average household size of 2.57 persons. 28.79% of households in Rolling Meadows are renters.

Income and Rent Overburden in Rolling Meadows

The median gross income for households in Rolling Meadows is $62,299 a year, or $5,192 a month. The median rent for the city is $1,175 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rolling Meadows, a household making less than $3,917 a month would be considered overburdened when renting an apartment at or above the median rent. 51.08% of households who rent are overburdened in Rolling Meadows.

Area Median Income In Rolling Meadows

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 Rolling Meadows, the AMI is calculated from all households within Cook County.

In Rolling Meadows, HUD calculates the Area Median Income for a family of four as $107,800

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 Rolling Meadows

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 Rolling Meadows