About This Property
Altamont Senior Residences provides 30 low-income units in Altamont, IL, with 24 one-bedroom and 6 two-bedroom floor plans serving elderly residents. The property was placed in service in 2019 and utilizes 9% LIHTC financing. Designed to offer affordable housing options, the residences accommodate seniors seeking rental housing in Effingham County.
Property Details
Fair Market Rent - Effingham 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 | $625 |
| 1 Bedroom | $629 |
| 2 Bedroom | $807 |
| 3 Bedroom | $1,125 |
| 4 Bedroom | $1,173 |
Income Limits - Effingham County, IL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,000
- Very Low (50%)
- $26,600
- Low (80%)
- $42,600
- Extremely Low (30%)
- $18,250
- Very Low (50%)
- $30,400
- Low (80%)
- $48,650
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,200
- Low (80%)
- $54,750
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $38,000
- Low (80%)
- $60,800
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $41,050
- Low (80%)
- $65,700
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $44,100
- Low (80%)
- $70,550
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $47,150
- Low (80%)
- $75,400
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $50,200
- Low (80%)
- $80,300
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,000 | $26,600 | $42,600 |
| 2 Persons | $18,250 | $30,400 | $48,650 |
| 3 Persons | $21,960 | $34,200 | $54,750 |
| 4 Persons | $26,500 | $38,000 | $60,800 |
| 5 Persons | $31,040 | $41,050 | $65,700 |
| 6 Persons | $35,580 | $44,100 | $70,550 |
| 7 Persons | $40,120 | $47,150 | $75,400 |
| 8 Persons | $44,660 | $50,200 | $80,300 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Altamont, IL?+
The Fair Market Rent (FMR) for Effingham County, IL is: $625 (Studio), $629 (1BR), $807 (2BR), $1125 (3BR), $1173 (4BR). Actual rent at subsidized properties like Altamont Senior Residences is typically 30% of household income or less.
What size apartments are available at Altamont Senior Residences?+
Altamont Senior Residences offers the following unit types: 24 One-Bedroom, 6 Two-Bedroom units, for a total of 30 units.
Who manages Altamont Senior Residences?+
Altamont Senior Residences is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Altamont Senior Residences?+
Altamont Senior Residences primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
How do I apply for housing at Altamont Senior Residences?+
Altamont Senior Residences 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.
What is the price range for apartments in Altamont, IL?+
Based on Fair Market Rent for Effingham County, the estimated price range is: 1-bedroom: $629, 2-bedroom: $807. Actual rent at Altamont Senior Residences may be lower for income-eligible households.
What are the income limits for affordable housing in Effingham County, IL?+
For a 4-person household in Effingham County, IL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $38,000, Low Income (80% AMI): $60,800. These limits are set by HUD and updated annually.
Contact Information
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