Low Income Apartments and Affordable Housing For Rent in Wonder Lake, IL

Discover affordable housing in Wonder Lake where there are 1+ 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.

8920 Woody Trail

8920 Woody Trail, Wonder Lake, Illinois 60097

bed 3
payment $1690/mo.

How To Identify Affordable Housing in Wonder Lake, 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.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Wonder Lake, Illinois
$32.46/hour
$18.46 (+132%) more than Illinois minimum wage and $25.21 (+348%) more than the Federal minimum wage.
Learn More About Wonder Lake, Illinois Affordable Housing ↓

What HUD offices serve Wonder Lake, 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 programs for Wonder Lake, Illinois.

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

How many renters live in Wonder Lake, Illinois?

The City of Wonder Lake has people living in households.

There are renters living in renter households in this City. Renters make up 5.5 percent of the population living in Wonder Lake.

What is the rental market like in Wonder Lake, Illinois?

There are an estimated housing units in the Wonder Lake area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Wonder Lake, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Wonder Lake?

The rental vacancy rate in Wonder Lake is 0 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 Wonder Lake for each bedroom size?

Occupied Rental Units by Size in Wonder Lake
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 0 71 22 0
Occupied Rental Units by Size in Wonder Lake

A large number of apartments in Wonder Lake 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 Wonder Lake

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 Wonder Lake, Illinois

How many units are rented at Fair Market Rent (FMR) in Wonder Lake?

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
Two BR 37 52 percent
Rental Units Below FMR in Wonder Lake, Illinois

How many affordable rental units are in Wonder Lake?

Income Based Apartments in Wonder Lake, Illinois

Wonder Lake 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 Wonder Lake, Illinois

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wonder Lake.

Housing Choice Vouchers in Wonder Lake, Illinois

On average, Section 8 Housing Choice vouchers pay Wonder Lake landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Wonder Lake.

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

Sourced from federal housing data and AffordableHousingOnline.com research.

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