6940 37th Ave. S. , Seattle, WA 98118
Waiting List Forecast: Likely Short or None
Verified for 2022 by Connor Bailey, Micah Reynolds| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $1,245 per Month† | 1 Bed | 1 Bath | 525 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.
Esperanza Apartments is an 84-unit building with one bedrooms only. They are a 55 and older adult community located in a serene area of Seattle away from traffic and congestion, yet convenient to shopping, churches, and medical facilities. Residents must be 55 years of age or older. Some apartments are specially equipped for mobility impaired persons. This community serves residents who earn less than 60 percent of the area median gross income. Income limits are determined by the U.S. Department of Housing and Urban Development (HUD). Beautiful, affordable, one bedroom and one bath apartments with utilities (except phone and cable) are included in the rent. Section 8 Vouchers Welcomed. For more info, please call the office. This community has income limitations as determined by the US Department of Housing and Urban Development. Section 8 Vouchers welcomed. We do have a waitlist usually, so call for more info.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Esperanza Apartments does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. As a LIHTC property that chose the 20/50 election, this property has agreed to set aside at least 20% of its units for families and individuals earning 50% of Area Median Income (AMI). Many of these properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with very low incomes.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 525ft2 | $1,245† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $47,950 / year | $54,800 / year | $61,650 / year | $68,500 / year | $74,000 / year | $79,500 / year | $84,950 / year | $90,450 / year |
| 50% AMI for PBRA Units | $47,950 / year | $54,800 / year | $61,650 / year | $68,500 / year | $74,000 / year | $79,500 / year | $84,950 / year | $90,450 / year |
| 60% AMI for LIHTC Units | $57,540 / year | $65,760 / year | $73,980 / year | $82,200 / year | $88,800 / year | $95,400 / year | $101,940 / year | $108,540 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Esperanza Apartments have a waiting list?
Esperanza Apartments 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 Esperanza Apartments?
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 Esperanza Apartments?
Esperanza Apartments is managed by Retirement Housing Foundation headquartered in Long Beach, California.
In addition to Esperanza Apartments, how many other affordable housing properties (and units) are there in Seattle?
In addition to Esperanza Apartments, we list 392 other affordable properties in Seattle. Learn about these properties here. Our data research shows that there are a total of 29556 affordable units in Seattle.
When was the Esperanza Apartments listing last updated?
Esperanza Apartments listing on Affordable Housing Online was last updated on 09/29/2022 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
Section 8 vouchers can be moved to another area.
Once certain conditions are met, a Section 8 voucher may be transferred to another area (known as "porting").Candice Bishop says:
"I love that I can get emails from Affordable Housing Online, letting me know when there are more waiting list openings. Thank you!"