About This Property
Madison Renaissance Development comprises 30 low-income rental units in Chicago, Illinois. The property, which has been in service since 1998, includes one 1-bedroom, nine 2-bedroom, sixteen 3-bedroom, and four 4-bedroom units. The development utilizes 9% Low-Income Housing Tax Credits to support its affordable housing mission.
Waitlist Information
Waitlist managed by Chicago Housing Authority
The Chicago Housing Authority offers affordable rental housing opportunities with open waitlists for Public Housing. Applications can be submitted.
The Chicago Housing Authority (CHA) offers affordable rental housing opportunities with open waitlists. This includes the Housing Choice Voucher (HCV) Program. Families with children up to age 16 may be eligible for the Mobility Counseling Program which can help them find homes in neighborhoods of their choice.
Waitlist data provided by section8waitlist.org
Updated May 8, 2026
Property Details
Fair Market Rent - Cook 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 - Cook 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 |
Advertisement
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Chicago, IL?+
The Fair Market Rent (FMR) for Cook County, IL is: $1399 (Studio), $1507 (1BR), $1714 (2BR), $2182 (3BR), $2583 (4BR). Actual rent at subsidized properties like Madison Renaissance Development is typically 30% of household income or less.
What size apartments are available at Madison Renaissance Development?+
Madison Renaissance Development offers the following unit types: 1 One-Bedroom, 9 Two-Bedroom, 16 Three-Bedroom, 4 Four-Bedroom units, for a total of 30 units.
How do I apply for housing at Madison Renaissance Development?+
Madison Renaissance Development 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 Cook County, IL?+
For a 4-person household in Cook 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.
Who manages Madison Renaissance Development?+
Madison Renaissance Development is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Chicago, IL?+
Based on Fair Market Rent for Cook County, the estimated price range is: 1-bedroom: $1507, 2-bedroom: $1714, 3-bedroom: $2182. Actual rent at Madison Renaissance Development may be lower for income-eligible households.
Is there a waitlist for Madison Renaissance Development?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Open. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
Contact Information
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
More Affordable Housing Near Madison Renaissance Development
Rebecca Walker Complex
Chicago, IL
64 Units5700 W Washington Blvd
Chicago, IL
20 UnitsCentral Pine
Chicago, IL
31 Units301-11 S Central Park
Chicago, IL
23 UnitsBoulevard Commons Ii
Chicago, IL
19 UnitsColumbus Park Apts
Chicago, IL
39 Units