907 E San Carlos Ave, San Carlos, CA 94070
Waiting List Forecast: Likely Short or None
Verified for 2019 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 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.
Laureola Oaks is the first affordable family development to be built in the City of San Carlos. Nestled between industrial and residential neighborhoods, Laureola Oaks features garden-style townhomes surrounding a central courtyard. The staggered gable roof design was intended to reflect the aesthetic of the surround neighborhood's architecture. Laureola Oaks has received several awards, including an Honor Award from the San Mateo AIA Chapter, an Honor Award for Architecture from the AIA, a Gold Nugget Award of Merit from the Pacific Coast Builders Conference and a Certificate of Appreciation from the San Mateo County Board of Supervisors.
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 Laureola Oaks 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. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. 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 |
|---|---|---|
| 1 Bedroom (1/1) | - | Rent is Based On Your Income† |
| 2 Bedroom (2/1) | - | Rent is Based On Your Income† |
| 3 Bedroom (3/1) | - | Rent is Based On Your Income† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $65,050 / year | $74,350 / year | $83,650 / year | $92,900 / year | $100,350 / year | $107,800 / year |
| 50% AMI for PBRA Units | $65,050 / year | $74,350 / year | $83,650 / year | $92,900 / year | $100,350 / year | $107,800 / year |
| 60% AMI for LIHTC Units | $78,060 / year | $89,220 / year | $100,380 / year | $111,480 / year | $120,420 / year | $129,360 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Laureola Oaks have a waiting list?
Laureola Oaks 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 Laureola Oaks?
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 Laureola Oaks?
Laureola Oaks is managed by MidPen Housing headquartered in Foster City, CA.
In addition to Laureola Oaks, how many other affordable housing properties (and units) are there in San Mateo County?
In addition to Laureola Oaks, we list 106 other affordable properties in San Mateo County. Learn about these properties here. Our data research shows that there are a total of 6627 affordable units in San Mateo County.
Know your rights as a Section 8 tenant.
In many areas, private landlords with an available unit can refuse interested tenants who have a Section 8 voucher. Check your local laws.La'Velle D Jackson says:
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