What HUD offices serve Spring Valley, 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 Spring Valley.
How many renters live in Spring Valley, Illinois?
The City of Spring Valley has people living in households.
There are renters living in renter households in this City. Renters make up 27.58 percent of the population living in Spring Valley.
What is the rental market like in Spring Valley, Illinois?
There are an estimated housing units in the Spring Valley area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Spring Valley, Illinois, there are 1.12 rental units.
What is the vacancy rate for rentals in Spring Valley?
The rental vacancy rate in Spring Valley is 6 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 Spring Valley for each bedroom size?
Occupied Rental Units by Size in Spring Valley
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 51 | 284 | 280 | 192 | 13 |
Occupied Rental Units by Size in Spring Valley
A large number of apartments in Spring Valley 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 Spring Valley
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $603 to $1,284. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $603 |
| One BR | $677 |
| Two BR | $890 |
| Three BR | $1,093 |
| Four BR | $1,284 |
2024 Fair Market Rents in Spring Valley, Illinois
How many units are rented at Fair Market Rent (FMR) in Spring Valley?
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 | 10 | 20 percent |
| One BR | 195 | 69 percent |
| Two BR | 85 | 30 percent |
Rental Units Below FMR in Spring Valley, Illinois
How many affordable rental units are in Spring Valley?
There are a variety of federal affordable housing programs serving households in Spring Valley, Illinois including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 811 Supportive Housing for Persons with Disabilities | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Spring Valley, Illinois
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Spring Valley, Illinois
Spring Valley features 172 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 Spring Valley, Illinois
There are 50 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Spring Valley.
Housing Choice Vouchers in Spring Valley, Illinois
On average, Section 8 Housing Choice vouchers pay Spring Valley landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Spring Valley.
The maximum amount a voucher would pay on behalf of a low-income tenant in Spring Valley, Illinois for a two-bedroom apartment is between $801 and $979.
Sourced from federal housing data and AffordableHousingOnline.com research.