Bradley Properties was developed and operates with Federal housing financing. The property utilizes the Project Based Sec. 8 Federal housing program to make rent affordable to lower income tenants.
Bradley Properties has a project-based Section 8 contract. 70 of the 71 total units at the property receive Section 8 assistance. This means that 99% of the renter households in the property pay no more than 30% of their adjusted income for rent.
The current Section 8 contract was effective on March 01, 2014 and the contract expires on February 28, 2019. The Section 8 contract rent is 105% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $1,056.00 for Zero Bedroom, $1,261.00 for One Bedroom, $1,567.00 for Two Bedroom, $1,945.00 for Three Bedroom, and $2,148.00 for Four Bedroom.
44% of Massachusetts properties and 26% of all properties across the country have Section 8 rental subsidies. See the Rent Subsidies section for more.