Idlewood Apartments

527 Lower Marine Rd, Troy, Illinois 62294

Rent and basic utilities is approximately 30% of the gross income, WITH SUBSIDY.

RESTRICTED TO: 62 years of age or older; disabled regardless of age

The deposit is equal to “base” rent, a minimum of $200 is due at lease signing.

The remainder is required to be paid off within 60 days.

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Waiting List is Open Now

Currently accepting applications for the waiting list. 

Last updated on November 5th, 2018

Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) - Income Based

Idlewood Apartments Details

  • 24 one bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Community Room
  • Coin-Operated Laundry

Unit Amenities

  • Trash Included
  • Bathroom Grab Bars

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Troy Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Troy but actual income limits may differ for units at Idlewood Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $29,750 $34,000 $38,250 $42,450 $45,850 $49,250 $52,650 $56,050
Low Income (60%) $35,700 $40,800 $45,900 $50,940 $55,020 $59,100 $63,180 $67,260

Idlewood Apartments is managed by Terra Properties.

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