5300 Millennium Dr NW, Huntsville, AL 35806
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 Bath | - |
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.
Franklin Hills is a 56 unit apartment home community for seniors 55 and older. The property is just minutes from University Drive and Research Boulevard. Close to great shopping and restaurants Franklin Hills is a place you will want to call home. This community has one and two bedroom apartments offering each resident spacious energy efficient living in a quiet residential neighborhood.
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 Franklin Hills 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | - | Call for Price† |
| Two Bedroom (2/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $34,350 / year | $39,250 / year | $44,150 / year | $49,050 / year |
| 50% AMI for PBRA Units | $34,350 / year | $39,250 / year | $44,150 / year | $49,050 / year |
| 60% AMI for LIHTC Units | $41,220 / year | $47,100 / year | $52,980 / year | $58,860 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Franklin Hills have a waiting list?
Franklin Hills 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 Franklin Hills?
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 Franklin Hills?
Franklin Hills is managed by TBG Residental headquartered in atlanta, ga.
In addition to Franklin Hills, how many other affordable housing properties (and units) are there in Huntsville?
In addition to Franklin Hills, we list 52 other affordable properties in Huntsville. Learn about these properties here. Our data research shows that there are a total of 3796 affordable units in Huntsville.
When was the Franklin Hills listing last updated?
Franklin Hills 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.
Preferences are not a requirement.
You should still consider applying to waiting lists with preferences you don't qualify for. There is still a chance to get housing.Libby Trahan says:
"I knew nothing about Section 8 or other affordable housing options, but Affordable Housing Online is very informative and I have learned about resources that I never knew were available."