About This Property
Spring Valley Senior Housing Phase I contains 50 one-bedroom units designated for low-income residents in Spring Valley, IL. The property has been in service since 2009 and utilizes 9% Low-Income Housing Tax Credits (LIHTC) to support its affordable housing mission. Interested parties can contact the property management for leasing inquiries and additional information.
Property Details
Fair Market Rent - Bureau County, IL
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $603 |
| 1 Bedroom | $677 |
| 2 Bedroom | $890 |
| 3 Bedroom | $1,093 |
| 4 Bedroom | $1,284 |
Income Limits - Bureau County, IL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,100
- Very Low (50%)
- $25,200
- Low (80%)
- $40,250
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $28,800
- Low (80%)
- $46,000
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $32,400
- Low (80%)
- $51,750
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $35,950
- Low (80%)
- $57,500
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $38,850
- Low (80%)
- $62,100
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $41,750
- Low (80%)
- $66,700
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $44,600
- Low (80%)
- $71,300
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $47,500
- Low (80%)
- $75,900
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,100 | $25,200 | $40,250 |
| 2 Persons | $17,420 | $28,800 | $46,000 |
| 3 Persons | $21,960 | $32,400 | $51,750 |
| 4 Persons | $26,500 | $35,950 | $57,500 |
| 5 Persons | $31,040 | $38,850 | $62,100 |
| 6 Persons | $35,580 | $41,750 | $66,700 |
| 7 Persons | $40,120 | $44,600 | $71,300 |
| 8 Persons | $44,660 | $47,500 | $75,900 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Spring Valley, IL?+
The Fair Market Rent (FMR) for Bureau County, IL is: $603 (Studio), $677 (1BR), $890 (2BR), $1093 (3BR), $1284 (4BR). Actual rent at subsidized properties like Spring Valley Senior Housing Phase I is typically 30% of household income or less.
What size apartments are available at Spring Valley Senior Housing Phase I?+
Spring Valley Senior Housing Phase I offers the following unit types: 50 One-Bedroom units, for a total of 50 units.
What are the income limits for affordable housing in Bureau County, IL?+
For a 4-person household in Bureau County, IL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $35,950, Low Income (80% AMI): $57,500. These limits are set by HUD and updated annually.
Who manages Spring Valley Senior Housing Phase I?+
Spring Valley Senior Housing Phase I is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Spring Valley, IL?+
Based on Fair Market Rent for Bureau County, the estimated price range is: 1-bedroom: $677. Actual rent at Spring Valley Senior Housing Phase I may be lower for income-eligible households.
How do I apply for housing at Spring Valley Senior Housing Phase I?+
Spring Valley Senior Housing Phase I is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
Contact Information
Location
Bureau County, IL
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