Low Income Apartments and Affordable Housing For Rent in Wood River, IL

Discover affordable housing in Wood River where there are 4+ 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.

526 E Lorena Ave

526 E Lorena Ave, Wood River, Illinois 62095

bed 3
payment $1275/mo.

125 W Penning Ave

125 W Penning Ave, Wood River, Illinois 62095

bed 2
payment $725/mo.

Windham Terrace Apartments

2701 Windham Terrace Dr, Wood River, Illinois 62095

bed 2-3
switch_access_shortcut Short Wait
accessibility Accessible

Stevens Building

118 Haller St, Wood River, Illinois 62095

payment Subsidized

How To Identify Affordable Housing in Wood River, 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 Wood River, Illinois
$22.90/hour
$8.90 (+64%) more than Illinois minimum wage and $15.65 (+216%) more than the Federal minimum wage.
Learn More About Wood River, Illinois Affordable Housing ↓

What HUD offices serve Wood River, 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, Family Self-Sufficiency programs for Wood River, Illinois.

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

How many renters live in Wood River, Illinois?

The City of Wood River has people living in households.

There are renters living in renter households in this City. Renters make up 30.02 percent of the population living in Wood River.

What is the rental market like in Wood River, Illinois?

There are an estimated housing units in the Wood River area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Wood River, Illinois, there are 1.03 rental units.

What is the vacancy rate for rentals in Wood River?

The rental vacancy rate in Wood River is 3 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 Wood River for each bedroom size?

Occupied Rental Units by Size in Wood River
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
71 198 637 391 36
Occupied Rental Units by Size in Wood River

A large number of apartments in Wood River 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 Wood River

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $928 to $1,818. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $928
One BR $972
Two BR $1,209
Three BR $1,565
Four BR $1,818
2024 Fair Market Rents in Wood River, Illinois

How many units are rented at Fair Market Rent (FMR) in Wood River?

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 47 66 percent
One BR 170 86 percent
Two BR 558 88 percent
Rental Units Below FMR in Wood River, Illinois

How many affordable rental units are in Wood River?

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

Federal Program Unit Count
Low Income Housing Tax Credit
Section 8 Project-Based Rental Assistance
Tracked Units by Federal Program in Wood River, Illinois

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

Income Based Apartments in Wood River, Illinois

Wood River features 46 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 Wood River, Illinois

There are 60 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wood River.

Housing Choice Vouchers in Wood River, Illinois

On average, Section 8 Housing Choice vouchers pay Wood River landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Wood River.

The maximum amount a voucher would pay on behalf of a low-income tenant in Wood River, Illinois for a two-bedroom apartment is between $1,088 and $1,330.

Sourced from federal housing data and AffordableHousingOnline.com research.

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