About This Property
Sherman Street offers 10 low-income rental units in Ridgway, IL, comprising seven one-bedroom and three two-bedroom apartments. The property has been in service since 1988 and is located in Gallatin County. Interested parties may contact the property management for additional information.
Property Details
Fair Market Rent - Gallatin 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 | $553 |
| 1 Bedroom | $711 |
| 2 Bedroom | $807 |
| 3 Bedroom | $1,074 |
| 4 Bedroom | $1,126 |
Income Limits - Gallatin County, IL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,250
- Very Low (50%)
- $23,800
- Low (80%)
- $38,050
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $27,200
- Low (80%)
- $43,450
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $30,600
- Low (80%)
- $48,900
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $33,950
- Low (80%)
- $54,300
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $36,700
- Low (80%)
- $58,650
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $39,400
- Low (80%)
- $63,000
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $42,100
- Low (80%)
- $67,350
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $44,850
- Low (80%)
- $71,700
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,250 | $23,800 | $38,050 |
| 2 Persons | $17,420 | $27,200 | $43,450 |
| 3 Persons | $21,960 | $30,600 | $48,900 |
| 4 Persons | $26,500 | $33,950 | $54,300 |
| 5 Persons | $31,040 | $36,700 | $58,650 |
| 6 Persons | $35,580 | $39,400 | $63,000 |
| 7 Persons | $40,120 | $42,100 | $67,350 |
| 8 Persons | $44,660 | $44,850 | $71,700 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Ridgway, IL?+
The Fair Market Rent (FMR) for Gallatin County, IL is: $553 (Studio), $711 (1BR), $807 (2BR), $1074 (3BR), $1126 (4BR). Actual rent at subsidized properties like Sherman Street is typically 30% of household income or less.
What size apartments are available at Sherman Street?+
Sherman Street offers the following unit types: 7 One-Bedroom, 3 Two-Bedroom units, for a total of 10 units.
How do I apply for housing at Sherman Street?+
Sherman Street 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 are the income limits for affordable housing in Gallatin County, IL?+
For a 4-person household in Gallatin County, IL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $33,950, Low Income (80% AMI): $54,300. These limits are set by HUD and updated annually.
What is the price range for apartments in Ridgway, IL?+
Based on Fair Market Rent for Gallatin County, the estimated price range is: 1-bedroom: $711, 2-bedroom: $807. Actual rent at Sherman Street may be lower for income-eligible households.
Who manages Sherman Street?+
Sherman Street is managed by . You can reach them at . Visit their website for more information.