Wait Street
9 Wait St
Boston, Suffolk County, Massachusetts 02120

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Funding Programs

Wait Street 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.

Section 8

Wait Street has a project-based Section 8 contract. 100 of the 100 total units at the property receive Section 8 assistance. This means that 100% 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 August 13, 1981 and the contract expires on August 12, 2021. The Section 8 contract rent is 121.6% 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, and $1,567.00 for Two 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.

Overview

Wait Street 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).

Wait Street is an apartment community containing 100 rental units. The property contains 111 bedrooms and based on typical apartment occupancy limits, Wait Street is home to not more than 195 persons when fully occupied.

Rent Subsidies

Wait Street 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

Wait Street contains a mix of 100 assisted studio, one, and two bedroom apartments for rent. There are 9 Studio, 71 One Bedroom, and 20 Two Bedroom apartments in this property. The unit mix is 9% Studio, 71% One Bedroom, and 20% Two Bedroom apartment rentals. The average bedroom size for Wait Street is 1.11.

Massachusetts's 7th

Congressional District

100

Total Units

100

Project Based Sec. 8 Units

121.6

% of Fair Market Rent

12-Aug-21

Project Based Sec. 8 Contract Expiration

Studio, One, and Two

Unit Mix

1.11

Average Bedroom Size

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