![]() Renters earning up to 50% of the Elk Grove Village AMI may qualify for rental assistance programs that target Very Low Income households. Renters earning up to 30% of the Elk Grove Village AMI may qualify for rental assistance programs that target Extremely Low Income households. ![]() Income Qualifications for HUD Rental Assistance in Elk Grove Village 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person 30% AMI Income Limits 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. 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. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811. Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. In Elk Grove Village, HUD calculates the Area Median Income for a family of four as $112,300 For Elk Grove Village, the AMI is calculated from all households within Cook County. 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. The AMI is calculated and published each year by HUD. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. Each household's income is compared to the incomes of all other households in the area. Area Median Income In Elk Grove VillageĪffordable housing program eligibility is always determined by one's income. In Elk Grove Village, a household making less than $3,617 a month would be considered overburdened when renting an apartment at or above the median rent.ĥ0.32% of households who rent are overburdened in Elk Grove Village. Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. The median gross income for households in Elk Grove Village is $68,527 a year, or $5,711 a month. Income and Rent Overburden in Elk Grove Village 26.21% of households in Elk Grove Village are renters. There are 13,323 households in the city with an average household size of 2.49 persons. ± 7.89pp Total Population 33,333 Population and Household DemographicsĮlk Grove Village is a city in Cook County, Illinois with a population of 33,333. ±$58 Percentage Of Renters Overburdened 50.32% Total Affordable Apartment Properties 2 Total Low Income Apartments 184 Total Housing Units with Rental Assistance 0 Percentage of Housing Units Occupied By Renters 26.21% Average Renter Household Size 2.05 Average Household Size 2.49 Median Household Income $68,527 Sourced from federal housing data and research.Įlk Grove Village, IL Affordable Housing Snapshot 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. 2023 Elk Grove Village, Illinois Fair Market Rents and Housing Choice Voucher Payment Standardsįair Market Rents can be used to better understand the average housing costs of an area. The maximum amount a voucher would pay on behalf of a low-income tenant in Elk Grove Village, Illinois for a two-bedroom apartment is between $1,296 and $1,584. The average voucher holder contributes $500 towards rent in Elk Grove Village. On average, Section 8 Housing Choice vouchers pay Elk Grove Village landlords $1,000 per month towards rent. Housing Choice Vouchers in Elk Grove Village, Illinois There are 184 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Elk Grove Village. Low Rent Apartments in Elk Grove Village, Illinois Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities. Elk Grove Village, Illinois Affordable Housing Data Income Based Apartments in Elk Grove Village, IllinoisĮlk Grove Village features 0 income based apartments.
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