International House
607 South Maynard Avenue
Seattle, King County, Washington 98104

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Funding Programs

International 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

International House has a project-based Section 8 contract. 98 of the 98 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 06, 2015 and the contract expires on August 05, 2020. The Section 8 contract rent is 77.6% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $1,225.00 for One Bedroom.

9% of Washington 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 2004 for $326,754 with a 10 year value of $3,267,540. The property was placed in service in 2004. 98 of 98 units at International 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

International House is an affordable apartment community located in Seattle, Washington which is located in King County. The property is located in Washington's 7th Congressional District served by Representative Pramila Jayapal (D), Senator Patty Murray (D) and Senator Maria Cantwell (D).

International House is an apartment community containing 98 rental units. The property contains 98 bedrooms and based on typical apartment occupancy limits, International House is home to not more than 147 persons when fully occupied.

Rent Subsidies

International House provides rental subsidies to renters. The type of subsidy provided to apartment renters in Seattle, WA 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

International House contains a mix of 98 assisted one bedroom apartments for rent. There are 98 One Bedroom apartments in this property. The unit mix is 100% One Bedroom apartment rentals. The average bedroom size for International House is 1.

Washington's 7th

Congressional District

98

Total Units

98

Tax Credit Units

98

Project Based Sec. 8 Units

98

Senior Units

77.6

% of Fair Market Rent

05-Aug-20

Project Based Sec. 8 Contract Expiration

One

Unit Mix

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