Hwy 77 & W. Grand Ave., Rainbow City, AL 35906
Waiting List Forecast: Likely Short or None
Verified for 2024 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
This project has been funded and will begin construction soon.
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 Wyatt Lee Meadows 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
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $23,000 / year | $26,300 / year | $29,600 / year | $32,850 / year |
| 50% AMI for PBRA Units | $23,000 / year | $26,300 / year | $29,600 / year | $32,850 / year |
| 60% AMI for LIHTC Units | $27,600 / year | $31,560 / year | $35,520 / year | $39,420 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Wyatt Lee Meadows have a waiting list?
Wyatt Lee Meadows 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 Wyatt Lee Meadows?
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 Wyatt Lee Meadows?
Wyatt Lee Meadows is managed by Olympia Management INC headquartered in Albertville, AL.
In addition to Wyatt Lee Meadows, how many other affordable housing properties (and units) are there in Rainbow City?
In addition to Wyatt Lee Meadows, we list 4 other affordable properties in Rainbow City. Learn about these properties here. Our data research shows that there are a total of 300 affordable units in Rainbow City.
When was the Wyatt Lee Meadows listing last updated?
Wyatt Lee Meadows listing on Affordable Housing Online was last updated on 03/08/2024 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
2950 Jones St, Rainbow City, Alabama 35906
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.Cha'Von Shawntaye Nichole says:
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