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Affordable Housing Hub’s Guide To Low Income Housing In 62450, IL

62450 Section 8 Housing: Section 8 Housing units are federally assisted rental housing properties that enable families to get deeply discounted, subsidized housing below current fair market rental pricing. There are 23 available in 62450, IL.

62450 Low Income Housing: Low Income Housing properties are units that provide tax benefits to their owners for making them available as affordable housing units for low income families and individuals. Currently, Low Income Housing Tax Credit Properties makes up almost 90% of low income housing availability in the United States. There are 2 available in 62450, IL.

62450 Public Housing: Public housing units are owned and operated by a government authority and offer affordable housing to individuals and families who meet the income elegibility requirements. Currently, there are 19 available in 62450, IL.

Housing Authorities serving 62450: The Housing Choice Voucher Program, also known as Section 8 provides tenant-based rental assistance. The vouchers act as cash that qualifying persons can use toward any privately owned residence that accepts vouchers for a portion of rent. Local Housing Authorities oversee the distribution of these vouchers. Tenants are typically expected to pay up to 30% of their income for housing with the rest being covered by the voucher and current Fair Market Rent. There is 1 Housing Authority Servicing 50 total units providing these programs in Richland, IL.