Market House
1525 1st Ave
Seattle, King County, Washington 98101

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Funding Programs

Market House 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

Market House has a project-based Section 8 contract. 51 of the 51 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 March 08, 2014 and the contract expires on March 07, 2034. The Section 8 contract rent is 88.4% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $1,049.00 for Zero Bedroom and $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.

Overview

Market 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).

Market House is an apartment community containing 51 rental units. The property contains 40 bedrooms and based on typical apartment occupancy limits, Market House is home to not more than 71 persons when fully occupied.

Rent Subsidies

Market 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

Market House contains a mix of 51 assisted studio and one bedroom apartments for rent. There are 11 Studio and 40 One Bedroom apartments in this property. The unit mix is 22% Studio and 78% One Bedroom apartment rentals. The average bedroom size for Market House is 0.78.

Washington's 7th

Congressional District

51

Total Units

51

Project Based Sec. 8 Units

88.4

% of Fair Market Rent

07-Mar-34

Project Based Sec. 8 Contract Expiration

Studio and One

Unit Mix

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