About This Property
River Valley Apts comprises 18 low-income units in Lacon, Illinois, serving elderly residents. The property includes 16 one-bedroom and 2 two-bedroom units and has been in service since 1994. The development receives 4% Low-Income Housing Tax Credit financing.
Property Details
Fair Market Rent - Marshall 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 | $683 |
| 1 Bedroom | $756 |
| 2 Bedroom | $965 |
| 3 Bedroom | $1,258 |
| 4 Bedroom | $1,293 |
Income Limits - Marshall County, IL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,050
- Very Low (50%)
- $26,750
- Low (80%)
- $42,750
- Extremely Low (30%)
- $18,350
- Very Low (50%)
- $30,550
- Low (80%)
- $48,850
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,350
- Low (80%)
- $54,950
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $38,150
- Low (80%)
- $61,050
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $41,250
- Low (80%)
- $65,950
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $44,300
- Low (80%)
- $70,850
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $47,350
- Low (80%)
- $75,750
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $50,400
- Low (80%)
- $80,600
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,050 | $26,750 | $42,750 |
| 2 Persons | $18,350 | $30,550 | $48,850 |
| 3 Persons | $21,960 | $34,350 | $54,950 |
| 4 Persons | $26,500 | $38,150 | $61,050 |
| 5 Persons | $31,040 | $41,250 | $65,950 |
| 6 Persons | $35,580 | $44,300 | $70,850 |
| 7 Persons | $40,120 | $47,350 | $75,750 |
| 8 Persons | $44,660 | $50,400 | $80,600 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Lacon, IL?+
The Fair Market Rent (FMR) for Marshall County, IL is: $683 (Studio), $756 (1BR), $965 (2BR), $1258 (3BR), $1293 (4BR). Actual rent at subsidized properties like River Valley Apts is typically 30% of household income or less.
What size apartments are available at River Valley Apts?+
River Valley Apts offers the following unit types: 16 One-Bedroom, 2 Two-Bedroom units, for a total of 18 units.
Who manages River Valley Apts?+
River Valley Apts is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at River Valley Apts?+
River Valley Apts primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in Lacon, IL?+
Based on Fair Market Rent for Marshall County, the estimated price range is: 1-bedroom: $756, 2-bedroom: $965. Actual rent at River Valley Apts may be lower for income-eligible households.
What are the income limits for affordable housing in Marshall County, IL?+
For a 4-person household in Marshall County, IL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $38,150, Low Income (80% AMI): $61,050. These limits are set by HUD and updated annually.
How do I apply for housing at River Valley Apts?+
River Valley 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.
Walk Score
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Nearby Schools
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