508 W. Mission Blvd., Pomona, CA 91766
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 - 2 Baths | 625 - 975 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.
Villa Esperanza is a new construction family development consisting of 57 units with a mix of 1-, 2-, and 3-bedroom apartment homes. Select apartment homes will be allocated for individuals and families experiencing homelessness who are at 30% Area Median Income and below. Other apartment homes will be geared toward homeless veterans. The remaining apartment homes will be set aside for families earning below 30% and 60% of the Area Median Income. Residents also enjoy an amenity space with a large multi-purpose room along with group and individual conference rooms. The outdoor amenities for the community include an outdoor fitness area, a community garden, and a dog park.
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 Villa Esperanza 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) | 625ft2 | Call for Price† |
| Two Bedroom (2/1) | 800ft2 | Call for Price† |
| Three Bedroom (3/2) | 975ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $44,150 / year | $50,450 / year | $56,750 / year | $63,050 / year | $68,100 / year | $73,150 / year |
| 50% AMI for PBRA Units | $44,150 / year | $50,450 / year | $56,750 / year | $63,050 / year | $68,100 / year | $73,150 / year |
| 60% AMI for LIHTC Units | $52,980 / year | $60,540 / year | $68,100 / year | $75,660 / year | $81,720 / year | $87,780 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Villa Esperanza have a waiting list?
Villa Esperanza 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 Villa Esperanza?
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 Villa Esperanza?
Villa Esperanza is managed by FPI Management, Inc. headquartered in Folsom, California.
In addition to Villa Esperanza, how many other affordable housing properties (and units) are there in Pomona?
In addition to Villa Esperanza, we list 18 other affordable properties in Pomona. Learn about these properties here. Our data research shows that there are a total of 1336 affordable units in Pomona.
When was the Villa Esperanza listing last updated?
Villa Esperanza listing on Affordable Housing Online was last updated on 08/08/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
121 W. Phillips Blvd., Pomona, California 91766
158 East Bonita Avenue, Pomona, California 91767
2003-2043 South Reservoir Street, Pomona, California 91766
Housing options for persons with disabilities.
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