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Fred Woods Homes I — Income-Restricted Housing in Chicago, IL 60640

4631 N. Beacon Street, Chicago, IL 60640

HUD 811 (disability)

9 units · 1–3 BR · People with disabilities

Leasing office: (773) 248-5200 ext. 309Directions

How to apply

  1. Call the leasing office at (773) 248-5200 ext. 309 to ask about applying, vacancies, and waiting lists.
  2. These records do not show openings — call to confirm vacancies and waiting lists.

At this building

Opened
1997
Bedrooms
3 1 bedroom · 3 2 bedrooms · 3 3 bedrooms
HUD inspection
HUD inspection score: 98/100 (Feb 2025) HUD inspects subsidized buildings on a 0–100 scale. This is a snapshot, not a pass/fail grade.

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Nearby income-restricted buildings

Rents and income limits in 60640

Fair market rent, 2 bedrooms
$2,600/mo
Income needed to pay it at 30% of income
$104,000/yr
Renters in 60640 paying 30% or more of income on rent
46%

Income limits (2026)

Chicago-Joliet-Naperville, IL area · median family income $121,500. Your household's yearly income before taxes must be at or below the limit.

PeopleExtremely low 30%Very low 50%Low 80%
1$25,550$42,550$68,050
2$29,200$48,600$77,800
3$32,850$54,700$87,500
4$36,450$60,750$97,200
5$39,400$65,650$105,000
6$44,360$70,500$112,800
7$50,040$75,350$120,550
8$55,720$80,200$128,350

Section 8 vouchers: up to the 50% limit, and most go to households under 30%. Public housing: up to 80%. Tax-credit apartments: usually up to 60% of median income, between the 50% and 80% columns.

Fair market rents (2027)

HUD's estimate of rent plus utilities for a modest home. Housing authorities set Section 8 voucher limits from it.

Size60640Wider area
Studio$2,170$1,678
1 bedroom$2,300$1,780
2 bedrooms$2,600$2,011
3 bedrooms$3,340$2,586
4 bedrooms$3,820$2,954

Wider area = Chicago-Joliet-Naperville, IL. Two-bedroom fair market rents in 12 nearby ZIPs range from $2,080 (60659) to $3,020 (60712).

Census figures for 60640 (2020–2024 average): median rent $1,413. Median household income $73,254. 68% of homes are rented. 46% of renters pay 30% or more of their income on rent, and 23% pay half or more.

Census median rent is what renters here actually pay, including long-term leases. Fair market rent is HUD's estimate for a modest apartment available now.

Sources: HUD income limits FY2026; HUD Fair Market Rents FY2027 (Small Area FMR for ZIP figures); U.S. Census Bureau American Community Survey 5-year 2020–2024. Each program and building can set its own limits — confirm with the property.

Estimate your Section 8 rent share

Project-based Section 8 is on the buildings above. A Housing Choice Voucher is different: you apply with the housing authority, then find a landlord who takes it. Your share of rent is based on income — not always 30%. The calculator uses 60640's fair market rent.

Estimate your Section 8 rent share for 60640

Frequently Asked Questions

How do I apply to Fred Woods Homes I?

Call (773) 248-5200 ext. 309 and ask about applying, vacancies, and waiting lists at Fred Woods Homes I in Chicago, IL 60640. These records do not show openings.

Is Fred Woods Homes I Section 8 housing?

Fred Woods Homes I is listed with a HUD-assisted or project-based Section 8 contract. The subsidy stays with the apartment. A Housing Choice Voucher is different — you apply with the housing authority. Confirm the program when you call.

How many units are at Fred Woods Homes I?

Public records list 9 units at Fred Woods Homes I in Chicago, IL 60640. That is a building size, not a count of open apartments.

Are there other affordable apartments near Fred Woods Homes I?

Yes — this page lists other income-restricted buildings in 60640 and nearby ZIP codes. Open a nearby card for the address and phone. Lists still do not show vacancies.

People Also Ask

How do I get into Fred Woods Homes I?

Call the number on this page and ask about the waiting list or how to apply at Fred Woods Homes I in Chicago, IL 60640. Public housing is through the housing authority. Bring ID and income documents when they tell you to. This site cannot submit an application for you.

How do I qualify for affordable housing in Chicago, IL 60640?

Most income-restricted buildings in Chicago, IL 60640 serve households at or below 50% or 80% of area median income. HUD's 2026 very low-income (50%) limit for a 1-person household is $42,550, and $60,750 for a 4-person household. Public housing can go up to 80% ($68,050 for 1 person). Each building sets its own cap — call to confirm before you apply. Citizenship, household size, and local preferences can also apply.

What is the income limit for low-income housing in Chicago, IL 60640?

For many programs in Chicago, IL 60640, the 2026 HUD very low-income (50%) limit is $42,550 a year for 1 person and $60,750 for 4 people. The low-income (80%) limit is $68,050 for 1 person. Tax-credit buildings often use 60% of median income. Confirm with the property — they can be stricter.

How much rent do you pay for low-income housing in Chicago, IL 60640?

In public housing and most Section 8 in Chicago, IL 60640, tenants typically pay about 30% of adjusted income. HUD's 2027 fair market rent for a 2-bedroom near Chicago, IL 60640 is $2,600 a month (rent plus utilities for a modest unit). Tax-credit apartments use set rents below market, not always 30% of income. Call the building for the actual rent; this site is not a vacancy or price list.

Does Fred Woods Homes I take Section 8 vouchers?

Fred Woods Homes I is listed with project-based Section 8 or HUD assistance — the subsidy is on the unit, so you usually apply at the building rather than bringing a tenant voucher. Ask when you call whether they also accept Housing Choice Vouchers.

Sources: HUD LIHTC database, 2024 (released Apr 2026); HUD Multifamily Assisted Properties, Oct 2026. Not affiliated with HUD or USDA. Details can be out of date — confirm with the property before applying. Report a correction.