940 Serenity Hills Dr, Lakeland, FL 33805
Waiting List Forecast: Likely Short or None
Verified for 2022 by Connor Bailey, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 - 1.5 Bath | 671 - 902 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.
Located just a few blocks from beautiful Lake Parker, Banyan Reserve Senior will give residents independence to explore and come and go freely. With plenty of walking trails, and city parks, Lakeland is an ideal for anyone looking for the small town atmosphere to enjoy. Lakeland offers great dinning, and home to Florida Southern College, there are always extracurricular activities around town for anyone to enjoy. Just a stone's throw away from both Tampa and Orlando, Lakeland also offers travel mobility to see the great state of Florida easily and efficiently. Banyan Reserve Senior will offer a host of amenities for all our resident's to enjoy, making it an attractive new home!
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 Banyan Reserve Senior 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 |
|---|---|---|
| 1x1 (1/1) | 671ft2 | Call for Price† |
| 2x1.5 (2/1.5) | 902ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $25,000 / year | $28,600 / year | $32,150 / year | $35,700 / year |
| 50% AMI for PBRA Units | $25,000 / year | $28,600 / year | $32,150 / year | $35,700 / year |
| 60% AMI for LIHTC Units | $30,000 / year | $34,320 / year | $38,580 / year | $42,840 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Banyan Reserve Senior have a waiting list?
Banyan Reserve Senior 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 Banyan Reserve Senior?
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 Banyan Reserve Senior?
Banyan Reserve Senior is managed by AGPM headquartered in Orlando, Florida.
In addition to Banyan Reserve Senior, how many other affordable housing properties (and units) are there in Lakeland?
In addition to Banyan Reserve Senior, we list 79 other affordable properties in Lakeland. Learn about these properties here. Our data research shows that there are a total of 2572 affordable units in Lakeland.
7425 Highway 98 N, Lakeland, Florida 33809
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