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There are 0 low-income apartments in Bondville that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Bondville where households pay rent based on how much they earn.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Bondville, 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.
| Housing Authority | Programs |
|---|---|
| Housing Authority of Champaign County | Section 8 Housing Choice Voucher (HCV); Moving to Work; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV); Mainstream Voucher; Rental Assistance Demonstration (RAD); Homeownership |
Bondville, Illinois Affordable Housing Data
Income Based Apartments in Bondville, Illinois
Bondville 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 Bondville, Illinois
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bondville.
Housing Choice Vouchers in Bondville, Illinois
On average, Section 8 Housing Choice vouchers pay Bondville landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Bondville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Bondville, Illinois for a two-bedroom apartment is between $944 and $1,154.
2024 Bondville, 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 | |
|---|---|---|---|---|---|
| Bondville, Illinois Fair Market Rent | $880 | $885 | $1,049 | $1,372 | $1,397 |
| Bondville, Illinois Payment Standard Range | $792 to $968 | $797 to $974 | $944 to $1,154 | $1,235 to $1,509 | $1,257 to $1,537 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Bondville, IL Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 1 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 41% |
| Average Renter Household Size | 2.26 |
| Average Household Size | 2.38 |
| Median Household Income | $47,500 ±$9,887 |
| Median Rent | $775 ±$37 |
| Percentage Of Renters Overburdened | 52.44% ± 18.64pp |
| Total Population | 476 |
Population and Household Demographics
Bondville is a city in Champaign County, Illinois with a population of 476. There are 200 households in the city with an average household size of 2.38 persons. 41% of households in Bondville are renters.
Income and Rent Overburden in Bondville
The median gross income for households in Bondville is $47,500 a year, or $3,958 a month. The median rent for the city is $775 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bondville, a household making less than $2,583 a month would be considered overburdened when renting an apartment at or above the median rent. 52.44% of households who rent are overburdened in Bondville.
Area Median Income In Bondville
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.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Bondville, the AMI is calculated from all households within Champaign County.
In Bondville, HUD calculates the Area Median Income for a family of four as $99,900
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 Bondville
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 Bondville
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Bondville AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$20,300 | $23,200 | $26,100 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Bondville AMI may qualify for rental assistance programs that target Very Low Income households. |
$33,850 | $38,700 | $43,550 | $48,350 | $52,250 | $56,100 | $60,000 | $63,850 |
| 80% AMI Income Limits Renters earning up to 80% of the Bondville AMI may qualify for rental assistance programs that target Low Income households. |
$54,150 | $61,900 | $69,650 | $77,350 | $83,550 | $89,750 | $95,950 | $102,150 |
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