405 Twin Lakes Drive, Rantoul, IL 61866
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $308 - 850 per Month† | 1 - 2 Beds | 1 - 1.5 Bath | 856 - 915 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.
Twin Lakes Senior Villas boasts 42 villas with individual driveways and attached one-car garages. Tailored for adults 55 and older, these 32 two-bedroom and 10 one-bedroom homes offer all of the amenities of luxury villas at affordable rental rates. Located in the Village of Rantoul, IL, Twin Lakes Senior Villas is less than 20 miles northeast of Champaign/Urbana, with easy access to State Route 45. The great location, lengthy amenities list, enjoyable environment, and professional on-site management and maintenance staff mean that you get to experience high-end living at a fraction of the cost.
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 Twin Lakes Senior Villas 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 |
|---|---|---|
| The Rosewood (1/1) | 856ft2 | $308 $713† |
| The Marquis (2/1.5) | 915ft2 | $364 $850† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $33,850 / year | $38,700 / year | $43,550 / year | $48,350 / year |
| 50% AMI for PBRA Units | $33,850 / year | $38,700 / year | $43,550 / year | $48,350 / year |
| 60% AMI for LIHTC Units | $40,620 / year | $46,440 / year | $52,260 / year | $58,020 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Twin Lakes Senior Villas have a waiting list?
Twin Lakes Senior Villas 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 Twin Lakes Senior Villas?
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 Twin Lakes Senior Villas?
Twin Lakes Senior Villas is managed by Miller Valentine Group
In addition to Twin Lakes Senior Villas, how many other affordable housing properties (and units) are there in Rantoul?
In addition to Twin Lakes Senior Villas, we list 2 other affordable properties in Rantoul. Learn about these properties here. Our data research shows that there are a total of 33 affordable units in Rantoul.
When was the Twin Lakes Senior Villas listing last updated?
Twin Lakes Senior Villas listing on Affordable Housing Online was last updated on 01/02/2023 by Colleen Carter. Remember, a property's status can change so you should contact the property to confirm.
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