800 Goeglein Gulch, Durango, CO 81301
Waiting List Forecast: Likely Short or None
Verified for 2018 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 - 2 Baths | - |
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.
Valle de Merced consists of 46 one-, two- and three-bedroom homes for low-income families; 15 of these homes are set aside for individuals with special needs. This property serves families and individuals with special needs who are earning 30 – 60 percent of the area median income.
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 Valle De Merced 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† |
| Three Bedroom (3/2) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $36,400 / year | $41,600 / year | $46,800 / year | $51,950 / year | $56,150 / year | $60,300 / year |
| 50% AMI for PBRA Units | $36,400 / year | $41,600 / year | $46,800 / year | $51,950 / year | $56,150 / year | $60,300 / year |
| 60% AMI for LIHTC Units | $43,680 / year | $49,920 / year | $56,160 / year | $62,340 / year | $67,380 / year | $72,360 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Valle De Merced have a waiting list?
Valle De Merced 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 Valle De Merced?
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 Valle De Merced?
Valle De Merced is managed by Mercy Housing headquartered in Denver, Colorado.
In addition to Valle De Merced, how many other affordable housing properties (and units) are there in Durango?
In addition to Valle De Merced, we list 23 other affordable properties in Durango. Learn about these properties here. Our data research shows that there are a total of 824 affordable units in Durango.
1401 E 3rd Ave, Durango, Colorado 81301
Always check the program's income limit.
Most federal housing programs serve renters earning 80% or less of the Area Median Income (AMI), or less.Ivette Betancourt says:
"Affordable Housing Online is a helpful website that can benefit many families looking for a decent affordable home."