520 Pearl St, Belvidere, IL 61008
Waiting List Forecast: Likely Short or None
Verified for 2019 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $320 - 775 per Month† | 1 - 2 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.
Pearl Place Apartments are spacious and have all the modern conveniences. The building has controlled access. The community spaces are large and are great for holiday gatherings or just a morning coffee with your neighbor. We are also located next to a senior center and the YMCA. Pearl Place is conveniently located near shopping and is minutes from Rockford, Illinois.
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 Pearl Place Apartments 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 |
|---|---|---|
| 1 Bedroom (1/1) | - | $320† |
| 2 Bedroom (2/1) | - | $775† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $28,850 / year | $33,000 / year | $37,100 / year | $41,200 / year |
| 50% AMI for PBRA Units | $28,850 / year | $33,000 / year | $37,100 / year | $41,200 / year |
| 60% AMI for LIHTC Units | $34,620 / year | $39,600 / year | $44,520 / year | $49,440 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Pearl Place Apartments have a waiting list?
Pearl Place Apartments 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 Pearl Place Apartments?
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 Pearl Place Apartments?
Pearl Place Apartments is managed by Paramark Real Estate Services headquartered in Rochester, Minnesota .
In addition to Pearl Place Apartments, how many other affordable housing properties (and units) are there in Belvidere?
In addition to Pearl Place Apartments, we list 7 other affordable properties in Belvidere. Learn about these properties here. Our data research shows that there are a total of 671 affordable units in Belvidere.
Know your rights as a Section 8 tenant.
Some states and local governments have laws that protect renters with a Section 8 voucher who are looking for an available unit. Check your local laws.Judea I. Lawton says:
"Affordable Housing Online is a great resource for those needing housing."