About This Property
Oak Tree Towers in Downers Grove comprises 164 low-income units serving elderly residents, with 10 studios and 154 one-bedroom apartments. The property entered service in 2018 and utilizes 4% LIHTC financing. Management and contact information are available upon inquiry.
Property Details
HUD Inspection Score
HUD inspects properties on a 0-100 scale. Scores above 60 are considered passing.
Fair Market Rent - Dupage 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 | $1,399 |
| 1 Bedroom | $1,507 |
| 2 Bedroom | $1,714 |
| 3 Bedroom | $2,182 |
| 4 Bedroom | $2,583 |
Income Limits - Dupage County, IL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $19,600
- Very Low (50%)
- $32,650
- Low (80%)
- $52,200
- Extremely Low (30%)
- $22,400
- Very Low (50%)
- $37,300
- Low (80%)
- $59,650
- Extremely Low (30%)
- $25,200
- Very Low (50%)
- $41,950
- Low (80%)
- $67,100
- Extremely Low (30%)
- $27,950
- Very Low (50%)
- $46,600
- Low (80%)
- $74,550
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $50,350
- Low (80%)
- $80,550
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $54,100
- Low (80%)
- $86,500
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $57,800
- Low (80%)
- $92,450
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $61,550
- Low (80%)
- $98,450
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $19,600 | $32,650 | $52,200 |
| 2 Persons | $22,400 | $37,300 | $59,650 |
| 3 Persons | $25,200 | $41,950 | $67,100 |
| 4 Persons | $27,950 | $46,600 | $74,550 |
| 5 Persons | $31,040 | $50,350 | $80,550 |
| 6 Persons | $35,580 | $54,100 | $86,500 |
| 7 Persons | $40,120 | $57,800 | $92,450 |
| 8 Persons | $44,660 | $61,550 | $98,450 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Downers Grove, IL?+
The Fair Market Rent (FMR) for Dupage County, IL is: $1399 (Studio), $1507 (1BR), $1714 (2BR), $2182 (3BR), $2583 (4BR). Actual rent at subsidized properties like Oak Tree Towers is typically 30% of household income or less.
What size apartments are available at Oak Tree Towers?+
Oak Tree Towers offers the following unit types: 10 Studio, 154 One-Bedroom units, for a total of 164 units.
What is the HUD inspection score for Oak Tree Towers?+
Oak Tree Towers has a HUD inspection score of 85 out of 100, which is considered good. HUD inspects subsidized housing properties to ensure they meet minimum health and safety standards. Scores of 60 or above are considered passing.
What are the income limits for affordable housing in Dupage County, IL?+
For a 4-person household in Dupage County, IL, the income limits are: Extremely Low Income (30% AMI): $27,950, Very Low Income (50% AMI): $46,600, Low Income (80% AMI): $74,550. These limits are set by HUD and updated annually.
How do I apply for housing at Oak Tree Towers?+
Oak Tree Towers is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , 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.
What is the price range for apartments in Downers Grove, IL?+
Based on Fair Market Rent for Dupage County, the estimated price range is: 1-bedroom: $1507. Actual rent at Oak Tree Towers may be lower for income-eligible households.
Who is eligible to live at Oak Tree Towers?+
Oak Tree Towers primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Oak Tree Towers?+
Oak Tree Towers is managed by . You can reach them at .
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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