Low Income Apartments and Affordable Housing For Rent in University Park, IL

Discover affordable housing in University Park where there are 3+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Thornwood House Apartments

1 Thornwood Mall, University Park, Illinois 60484

bed 1

804 Sandra Dr Unit O

804 Sandra Dr Unit O, University Park, Illinois 60484

bed 2
payment $1650/mo.

Arbors at Hickory Creek

Cicero Ave At Steger Dr, University Park, Illinois 60471

How To Identify Affordable Housing in University Park, Illinois

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In University Park, Illinois
$18.46 (+132%) more than Illinois minimum wage and $25.21 (+348%) more than the Federal minimum wage.
Learn More About University Park, Illinois Affordable Housing ↓

What HUD offices serve University Park, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Section 8 Project-Based Voucher (PBV) programs for University Park, Illinois.

Go to the Illinois Public Housing and Low-Income Apartments Waiting Lists page for openings near University Park.

How many renters live in University Park, Illinois?

The City of University Park has 7,328 people living in 2,634 households.

There are 2,634 renters living in 930 renter households in this City. Renters make up 35.94 percent of the population living in University Park.

What is the rental market like in University Park, Illinois?

There are an estimated 2,901 housing units in the University Park area. Of these, 1,022 units are rental homes, making up 35 percent of the housing market. For every renter household in University Park, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in University Park?

The rental vacancy rate in University Park is 4 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 University Park for each bedroom size?

Occupied Rental Units by Size in University Park
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
15 260 315 331 9
Occupied Rental Units by Size in University Park

A large number of apartments in University Park have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in University Park are overburdened by housing costs?

Among renter households in this market, 49 percent have housing cost burden. Further, 10 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in University Park

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,399 to $2,583. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,399
One BR $1,507
Two BR $1,714
Three BR $2,182
Four BR $2,583
2024 Fair Market Rents in University Park, Illinois

How many units are rented at Fair Market Rent (FMR) in University Park?

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 12 80 percent
One BR 134 52 percent
Two BR 255 81 percent
Rental Units Below FMR in University Park, Illinois

How many affordable rental units are in University Park?

There are a variety of federal affordable housing programs serving households in University Park, Illinois including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 182
Section 8 Project-Based Rental Assistance 2
Mod Rehab Project-Based Rental Assistance 61
Tracked Units by Federal Program in University Park, Illinois

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in University Park, Illinois

University Park features 0 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 University Park, Illinois

There are 359 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in University Park.

Housing Choice Vouchers in University Park, Illinois

On average, Section 8 Housing Choice vouchers pay University Park landlords $1,200 per month towards rent. The average voucher holder contributes $400 towards rent in University Park.

The maximum amount a voucher would pay on behalf of a low-income tenant in University Park, Illinois for a two-bedroom apartment is between $1,543 and $1,885.

Sourced from federal housing data and AffordableHousingOnline.com research.