About This Property
Madison Senior Apts provides 14 low-income units in Madison, Illinois, serving elderly residents with a mix of seven one-bedroom and seven two-bedroom apartments. The property has been in service since 2007 and is funded through 9% Low-Income Housing Tax Credits. Prospective tenants can contact the management office for information about availability and lease terms.
Property Details
Fair Market Rent - Madison 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 | $928 |
| 1 Bedroom | $972 |
| 2 Bedroom | $1,209 |
| 3 Bedroom | $1,565 |
| 4 Bedroom | $1,818 |
Income Limits - Madison County, IL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $17,850
- Very Low (50%)
- $29,750
- Low (80%)
- $47,550
- Extremely Low (30%)
- $20,400
- Very Low (50%)
- $34,000
- Low (80%)
- $54,350
- Extremely Low (30%)
- $22,950
- Very Low (50%)
- $38,250
- Low (80%)
- $61,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $42,450
- Low (80%)
- $67,900
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $45,850
- Low (80%)
- $73,350
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $49,250
- Low (80%)
- $78,800
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $52,650
- Low (80%)
- $84,200
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $56,050
- Low (80%)
- $89,650
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $17,850 | $29,750 | $47,550 |
| 2 Persons | $20,400 | $34,000 | $54,350 |
| 3 Persons | $22,950 | $38,250 | $61,150 |
| 4 Persons | $26,500 | $42,450 | $67,900 |
| 5 Persons | $31,040 | $45,850 | $73,350 |
| 6 Persons | $35,580 | $49,250 | $78,800 |
| 7 Persons | $40,120 | $52,650 | $84,200 |
| 8 Persons | $44,660 | $56,050 | $89,650 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Madison, IL?+
The Fair Market Rent (FMR) for Madison County, IL is: $928 (Studio), $972 (1BR), $1209 (2BR), $1565 (3BR), $1818 (4BR). Actual rent at subsidized properties like Madison Senior Apts is typically 30% of household income or less.
What size apartments are available at Madison Senior Apts?+
Madison Senior Apts offers the following unit types: 7 One-Bedroom, 7 Two-Bedroom units, for a total of 14 units.
Who manages Madison Senior Apts?+
Madison Senior Apts is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Madison County, IL?+
For a 4-person household in Madison County, IL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $42,450, Low Income (80% AMI): $67,900. These limits are set by HUD and updated annually.
What is the price range for apartments in Madison, IL?+
Based on Fair Market Rent for Madison County, the estimated price range is: 1-bedroom: $972, 2-bedroom: $1209. Actual rent at Madison Senior Apts may be lower for income-eligible households.
Who is eligible to live at Madison Senior Apts?+
Madison Senior Apts 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 Madison Senior Apts?+
Madison Senior Apts 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.
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