315 N. Norbeck St, Vermillion, SD 57069
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 2 - 3 Beds | 1.5 - 2.5 Baths | 1,100 - 1,370 Sq Ft |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Madison Park Townhomes is an affordable housing community, featuring a total of 40 townhomes.
Professionally managed by NLR Property Management, our Energy Star certified townhomes are a Pet Friendly community with Washer & Dryer included!
Because Madison Park Townhomes participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Two Bedroom One in a half Bath (2/1.5) | 1100ft2 | Call for Price† |
| Three Bedroom Two in a half Bath (3/2.5) | 1370ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $33,150 / year | $37,900 / year | $42,650 / year | $47,350 / year | $51,150 / year | $54,950 / year |
| 50% AMI for PBRA Units | $33,150 / year | $37,900 / year | $42,650 / year | $47,350 / year | $51,150 / year | $54,950 / year |
| 60% AMI for LIHTC Units | $39,780 / year | $45,480 / year | $51,180 / year | $56,820 / year | $61,380 / year | $65,940 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Madison Park Townhomes have a waiting list?
Madison Park Townhomes probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Madison Park Townhomes?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Madison Park Townhomes?
Madison Park Townhomes is managed by NLR Management headquartered in phoenix, az.
In addition to Madison Park Townhomes, how many other affordable housing properties (and units) are there in Vermillion?
In addition to Madison Park Townhomes, we list 11 other affordable properties in Vermillion. Learn about these properties here. Our data research shows that there are a total of 310 affordable units in Vermillion.
When was the Madison Park Townhomes listing last updated?
Madison Park Townhomes listing on Affordable Housing Online was last updated on 01/02/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
Wait until you have a Section 8 voucher to find housing.
It usually takes months or years to reach the top of a Section 8 HCV waiting list. Any apartments you see now will likely not be available when you get your voucher.Shawneen Dustin says:
"For anyone who is confused with the process to get housing, Affordable Housing Online helps."