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There are 0 low-income apartments in Woodford County that offer reduced rents to eligible households.
Rental assistance programs support 220 low-income homes in Woodford County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $308 towards rent each month.
Affordable rent data for some communities last confirmed on April 23rd, 2021. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Woodford County, 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 Ford | Section 8 Housing Choice Voucher (HCV); Public Housing |
| Woodford County Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
Woodford County, Illinois Affordable Housing Data
Income Based Apartments in Woodford County, Illinois
Woodford County features 220 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 $869 and $1,062.
2024 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 | |
|---|---|---|---|---|---|
| Woodford County, Illinois Fair Market Rent | $683 | $756 | $965 | $1,258 | $1,293 |
| Woodford County, Illinois Payment Standard Range | $615 to $751 | $680 to $832 | $869 to $1,062 | $1,132 to $1,384 | $1,164 to $1,422 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Woodford County, IL Affordable Housing Snapshot
| Total Affordable Apartment Properties | 5 |
|---|---|
| Total Low Income Apartments | 220 |
| Total Housing Units with Rental Assistance | 220 |
| 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 |
| Total Population | 39,106 |
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 $91,900
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 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
| 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 Woodford County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$19,000 | $21,700 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Woodford County AMI may qualify for rental assistance programs that target Very Low Income households. |
$31,650 | $36,150 | $40,650 | $45,150 | $48,800 | $52,400 | $56,000 | $59,600 |
| 80% AMI Income Limits Renters earning up to 80% of the Woodford County AMI may qualify for rental assistance programs that target Low Income households. |
$50,600 | $57,800 | $65,050 | $72,250 | $78,050 | $83,850 | $89,600 | $95,400 |
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