Stone Creek Village
13420 N 21st Pl
Phoenix, Maricopa County, Arizona 85022

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Funding Programs

Stone Creek Village was developed and operates with Federal housing financing. The property utilizes the Section 202 Federal housing program to make rent affordable to lower income tenants.

Section 202

The property was developed with funding through the HUD Section 202 program which provides funding for housing for seniors who are 62 or older. The program provided both capital financing to construct the property and operating subsidies that work as rental assistance like the Section 8 program. Stone Creek Village is among only 84 Section 202 properties in Arizona and 6,166 in the country.

Overview

Stone Creek Village is an affordable apartment community located in Phoenix, Arizona which is located in Maricopa County. The property is located in Arizona's 6th Congressional District served by Representative David Schweikert (R), Senator John McCain (R) and Senator Jeff Flake (R).

Stone Creek Village is an apartment community containing 39 rental units. The property contains 47 bedrooms and based on typical apartment occupancy limits, Stone Creek Village is home to not more than 78 persons when fully occupied.

Rent Subsidies

Stone Creek Village provides rental subsidies to renters. The type of subsidy provided to apartment renters in Phoenix, AZ by this property is Section 202 Rental Assistance.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is no minimum rent at this property for residents receiving a rent subsidy but in recent years, there has been discussions in Congress to implement a minimum rent in the Section 202 Program to reduce cost burden on the Federal budget.

Unit Mix

Stone Creek Village contains a mix of 39 assisted one and two bedroom apartments for rent. There are 31 One Bedroom and 8 Two Bedroom apartments in this property. The unit mix is 79% One Bedroom and 21% Two Bedroom apartment rentals. The average bedroom size for Stone Creek Village is 1.18.

Arizona's 6th

Congressional District

39

Total Units

39

Project Based Sec. 8 Units

39

Section 202 Units

39

Senior Units

151.8

% of Fair Market Rent

30-Jun-17

Project Based Sec. 8 Contract Expiration

One and Two

Unit Mix

1.18

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data