Chauncy House
115 Chauncy St
Boston, Suffolk County, Massachusetts 02111

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Funding Programs

Chauncy House was developed and operates with Federal housing financing. The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit and Project Based Sec. 8.

Section 8

Chauncy House has a project-based Section 8 contract. 34 of the 87 total units at the property receive Section 8 assistance. This means that 39% 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 September 01, 2015 and the contract expires on August 31, 2035. The Section 8 contract rent is 175.2% 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 and $1,261.00 for One 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.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 1997. The property was placed in service in 1998. 62 of 87 units at Chauncy House are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was located in a Qualified Census Tract qualifying it for additional tax credit financing.

Overview

Chauncy House is an affordable apartment community located in Boston, Massachusetts which is located in Suffolk County. The property is located in Massachusetts's 7th Congressional District served by Representative Michael Capuano (D), Senator Elizabeth Warren (D) and Senator Edward Markey (D).

Chauncy House is an apartment community containing 34 rental units. The property contains 21 bedrooms and based on typical apartment occupancy limits, Chauncy House is home to not more than 44 persons when fully occupied.

Rent Subsidies

Chauncy House provides rental subsidies to renters. The type of subsidy provided to apartment renters in Boston, MA by this property is Project Based Sec. 8.

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 a minimum rent payment of not less than $25 and as much as $50 for all subsidy recipients at this property. That means that even if a renter has zero income, they will still be required to pay rent. In recent years, there have been various legislative proposals to increase the Section 8 minimum rent but advocates make the valid point that minimum rents affect the poorest of the poor.

Unit Mix

Chauncy House contains a mix of 34 assisted studio and one bedroom apartments for rent. There are 13 Studio and 21 One Bedroom apartments in this property. The unit mix is 38% Studio and 62% One Bedroom apartment rentals. The average bedroom size for Chauncy House is 0.24.

Massachusetts's 7th

Congressional District

34

Total Units

62

Tax Credit Units

34

Project Based Sec. 8 Units

175.2

% of Fair Market Rent

31-Aug-35

Project Based Sec. 8 Contract Expiration

Studio and One

Unit Mix

0.24

Average Bedroom Size

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