Payne Chapel Housing

1001 S Institute St, Colorado Springs, CO 80903

Waiting List Forecast: Likely Long or Closed

check_circleVerified for 2019 by Colleen Carter, Ric Gresia
Rent Beds Baths SqFt
Call for Rents Floorplan Info Upon Request - -
check_circle  Project-Based Rental Assistance

Waitlist Forecast

Since this property may have a Section 8 Property Based Rental Assistance contract with rental assistance available to its residents, it is likely the property has a waiting list. Sometimes these waiting lists can be months or years long and may or may not be accepting new applicants. 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.

Dave's Thoughts On Payne Chapel Housing

This property participates in the Section 8 Project-Based Rental Assistance program meaning the rent for many, if not all, units is based on a tenant's income. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. Also, project-based Section 8 properties tend to have longer waiting lists, with some with waiting lists going out for years. This property was also financed through a HUD-insured private mortgage meaning the owner has oversight from both a private bank and HUD. This usually means Payne Chapel Housing is kept in good condition. Since this property has a project-based Section 8 contract, you won't need a Section 8 voucher to live here. If you have a voucher, you may have to give it up to live here.

Dave, Founder AHO

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Payne Chapel Housing

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
AMI* 1 person 2 people 3 people 4 people 5 people 6 people 7 people 8 people
30% AMI for PBRA Units $20,500 / year $23,400 / year $26,350 / year $30,000 / year $35,140 / year $40,280 / year $45,420 / year $50,560 / year
50% AMI for LIHTC Units $34,150 / year $39,000 / year $43,900 / year $48,750 / year $52,650 / year $56,550 / year $60,450 / year $64,350 / year
50% AMI for PBRA Units $34,150 / year $39,000 / year $43,900 / year $48,750 / year $52,650 / year $56,550 / year $60,450 / year $64,350 / year
80% AMI for PBRA Units $54,600 / year $62,400 / year $70,200 / year $78,000 / year $84,250 / year $90,500 / year $96,750 / year $103,000 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Payne Chapel Housing

Does Payne Chapel Housing have a waiting list?

Payne Chapel Housing probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Payne Chapel Housing?

We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.

In addition to Payne Chapel Housing, how many other affordable housing properties (and units) are there in Colorado Springs?

In addition to Payne Chapel Housing, we list 374 other affordable properties in Colorado Springs. Learn about these properties here. Our data research shows that there are a total of 4699 affordable units in Colorado Springs.

Listings Near Payne Chapel Housing

Kiowa I and II

444 E Kiowa St, Colorado Springs, Colorado 80903

bed 1
payment Subsidized

Pikes Peak Properties

3609 Michigan Ave, Colorado Springs, Colorado 80910

bed 1-2
payment Subsidized
accessibility Accessible

Villas at Southgate

1810 S Corona Ave, Colorado Springs, Colorado 80905

bed 1
switch_access_shortcut Short Wait
accessibility Accessible

Winfield Apartments

6118 Romley Point, Colorado Springs, Colorado 80922

bed 2-3
switch_access_shortcut Short Wait
accessibility Accessible

Centennial Plaza

516 E Kiowa St, Colorado Springs, Colorado 80903

bed 1
payment Subsidized

Senior Heritage Plaza

1410 N Hancock Ave, Colorado Springs, Colorado 80903

bed 1
payment Subsidized
Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.

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