University Square Apartments
3901 Market Street
Philadelphia, Philadelphia County, Pennsylvania 19104

Call (855) 598-3283, enter extension 34021, then hit #.

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About The Property:

University Square is a HUD subsidized community for adults 62 . The bus stops at our property. We are located within a block of the 40th Street Station, shopping, restaurants, grocery stores, and pharmacies. We have a computer center, an exercise room, a laundry facility on every floor, elevators, and 24-hour courtesy patrol. Our resident service coordinator helps our residents maintain their independence as well as arranging various activities. A Korean interpreter is on-site 3 half-days every week. We also have a monthly newletter that allows us to communicate upcoming events with our residents, such as the fresh grocer who comes to our property every Friday. All utilities included.TTY # (800) 654-5984

Unit Information

Unit Bed/Bath Rent
One Bedroom 1/1 $-829

Property Amenities

  • Elevator
  • Fitness Center
  • Laundry Room
  • Covered Parking

Unit Amenities

  • Air Conditioning
  • All Appliances included
  • Dishwasher
  • Cable/Satellite TV
  • Utilities Included
  • Window Coverings
  • Carpet
  • Premium Flooring
  • Security System

Nearby Amenities

  • Close to Public Transportation

Managed By NHPMN MANAGEMENT LP/ AIMCO

Funding Programs

University Square Apartments 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

University Square Apartments has a project-based Section 8 contract. 440 of the 442 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 February 16, 2011 and the contract expires on February 15, 2020. The Section 8 contract rent is 113.7% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $1,003.00 for One Bedroom.

29% of Pennsylvania properties and 26% of all properties across the country have Section 8 rental subsidies. See the Rent Subsidies section for more.

Overview

University Square Apartments is an affordable apartment community located in Philadelphia, Pennsylvania which is located in Philadelphia County. The property is located in Pennsylvania's 2nd Congressional District served by Representative Dwight Evans (D), Senator Patrick Toomey (R) and Senator Robert Casey (D).

University Square Apartments is an apartment community containing 440 rental units. The property contains 440 bedrooms and based on typical apartment occupancy limits, University Square Apartments is home to not more than 660 persons when fully occupied.

Rent Subsidies

University Square Apartments provides rental subsidies to renters. The type of subsidy provided to apartment renters in Philadelphia, PA 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

University Square Apartments contains a mix of 440 assisted one bedroom apartments for rent. There are 440 One Bedroom apartments in this property. The unit mix is 100% One Bedroom apartment rentals. The average bedroom size for University Square Apartments is 1.

Pennsylvania's 2nd

Congressional District

440

Total Units

440

Project Based Sec. 8 Units

113.7

% of Fair Market Rent

15-Feb-20

Project Based Sec. 8 Contract Expiration

One

Unit Mix

1

Average Bedroom Size

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