About This Property
Spring Valley Senior Housing Phase II offers 50 one-bedroom units designated for low-income residents in Spring Valley, Illinois. The property has been in service since 2011 and is financed through 4% Low-Income Housing Tax Credits. This Bureau County community provides rental housing options for seniors within the affordable housing program.
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 Ii is typically 30% of household income or less.
What size apartments are available at Spring Valley Senior Housing Phase Ii?+
Spring Valley Senior Housing Phase Ii 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.
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 Ii may be lower for income-eligible households.
Who manages Spring Valley Senior Housing Phase Ii?+
Spring Valley Senior Housing Phase Ii is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Spring Valley Senior Housing Phase Ii?+
Spring Valley Senior Housing Phase Ii 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
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
More Affordable Housing Near Spring Valley Senior Housing Phase Ii
Spring Valley Hi-Rise
Spring Valley, IL
2 UnitsPeru Senior Housing Phase Ii
Peru, IL
52 UnitsR&R Rentals
Peru, IL
2 UnitsPeru Senior Housing
Peru, IL
60 UnitsHeather Apts
Spring Valley, IL
24 UnitsPeru Senior Housing Phase Ii
Peru, IL
52 Units