Affordable Housing In Woodford County
4 Low Income Apartment Communities In Woodford County
Housing Authorities that serve Woodford County
|Housing Authority of the County of Ford||Section 8 Housing Choice Voucher (HCV); Public Housing|
|Woodford County Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Woodford County, Illinois
There are 4 low income housing apartment communities offering 94 affordable apartments for rent in Woodford County, Illinois.
Income Based Apartments in Woodford County, Illinois
Woodford County features 94 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 Woodford County, Illinois
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Woodford County.
Housing Choice Vouchers in Woodford County, Illinois
On average, Section 8 Housing Choice vouchers pay Woodford County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Woodford County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Woodford County, Illinois for a two-bedroom apartment is between $695 and $849.
2020 Woodford County, Illinois Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
|Studio||One BR||Two BR||Three BR||Four BR|
|Fair Market Rent||$564||$606||$772||$998||$1,082|
|Payment Standard Range||$508 to $620||$545 to $667||$695 to $849||$898 to $1,098||$974 to $1,190|
Sourced from federal housing data and AffordableHousingOnline.com research.
Woodford County, IL Affordable Housing Snapshot
|Total Affordable Apartment Properties||4|
|Total Low Income Apartments||94|
|Total Housing Units with Rental Assistance||94|
|Percentage of Housing Units Occupied By Renters||18.72%|
|Average Renter Household Size||2.47|
|Average Household Size||2.65|
|Median Household Income||$65,852 ±$2,867|
|Median Rent||$737 ±$43|
|Percentage Of Renters Overburdened||32.9% ± 5.14pp|
Population and Household Demographics
Woodford County is a county in Illinois with a population of 39,106. There are 14,350 households in the county with an average household size of 2.65 persons. 18.72% of households in Woodford County are renters.
Income and Rent Overburden in Woodford County
The median gross income for households in Woodford County is $65,852 a year, or $5,488 a month. The median rent for the county is $737 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Woodford County, a household making less than $2,457 a month would be considered overburdened when renting an apartment at or above the median rent. 32.9% of households who rent are overburdened in Woodford County.
Area Median Income In Woodford County
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
In Woodford County, HUD calculates the Area Median Income for a family of four as $79,600
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Woodford County
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Woodford County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$16,750||$19,150||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$27,900||$31,850||$35,850||$39,800||$43,000||$46,200||$49,400||$52,550|
|80% of Median||$44,600||$51,000||$57,350||$63,700||$68,800||$73,900||$79,000||$84,100|
Cities In Woodford County
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