Low Income Apartments For Rent in Loves Park, IL

Rental assistance programs support 216 low-income homes in Loves Park where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $356 towards rent each month.

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 Loves 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.

Housing Authority	Programs
Housing Authority of the County of Boone	Section 8 Housing Choice Voucher (HCV)

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

Loves Park, Illinois Affordable Housing Data

Income Based Apartments in Loves Park, Illinois

Loves Park features 216 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 Loves Park, Illinois

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

Housing Choice Vouchers in Loves Park, Illinois

On average, Section 8 Housing Choice vouchers pay Loves Park landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Loves Park.

The maximum amount a voucher would pay on behalf of a low-income tenant in Loves Park, Illinois for a two-bedroom apartment is between $928 and $1,134.

2024 Loves Park, 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
Loves Park, Illinois Fair Market Rent	$699	$785	$1,031	$1,380	$1,423
Loves Park, Illinois Payment Standard Range	$629 to $769	$707 to $864	$928 to $1,134	$1,242 to $1,518	$1,281 to $1,565

Sourced from federal housing data and AffordableHousingOnline.com research.

Loves Park, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 6

Total Low Income Apartments 218

Total Housing Units with Rental Assistance 216

Percentage of Housing Units Occupied By Renters 30.94%

Average Renter Household Size 2.16

Average Household Size 2.52

Median Household Income $50,917 ±$2,636

Median Rent $791 ±$30

Percentage Of Renters Overburdened 36.19% ± 7.64pp

Total Population 24,494

Total Affordable Apartment Properties	6
Total Low Income Apartments	218
Total Housing Units with Rental Assistance	216
Percentage of Housing Units Occupied By Renters	30.94%
Average Renter Household Size	2.16
Average Household Size	2.52
Median Household Income	$50,917 ±$2,636
Median Rent	$791 ±$30
Percentage Of Renters Overburdened	36.19% ± 7.64pp
Total Population	24,494

Population and Household Demographics

Loves Park is a city in Boone County, Illinois with a population of 24,494. There are 9,664 households in the city with an average household size of 2.52 persons. 30.94% of households in Loves Park are renters.

Income and Rent Overburden in Loves Park

The median gross income for households in Loves Park is $50,917 a year, or $4,243 a month. The median rent for the city is $791 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Loves Park, a household making less than $2,637 a month would be considered overburdened when renting an apartment at or above the median rent. 36.19% of households who rent are overburdened in Loves Park.

Area Median Income In Loves Park

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 Loves Park, the AMI is calculated from all households within Boone County.

In Loves Park, HUD calculates the Area Median Income for a family of four as $82,400

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 Loves Park

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 Loves Park

	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 Loves Park AMI may qualify for rental assistance programs that target Extremely Low Income households.	$17,300	$19,800	$24,860	$30,000	$35,140	$40,280	$45,420	$50,560
50% AMI Income Limits Renters earning up to 50% of the Loves Park AMI may qualify for rental assistance programs that target Very Low Income households.	$28,850	$33,000	$37,100	$41,200	$44,500	$47,800	$51,100	$54,400
80% AMI Income Limits Renters earning up to 80% of the Loves Park AMI may qualify for rental assistance programs that target Low Income households.	$46,150	$52,750	$59,350	$65,900	$71,200	$76,450	$81,750	$87,000