414 S Morgan St, Shelbyville, IL 62565
Waiting List Forecast: Likely Long or Closed
Verified for 2019 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
Since this property may have HUD-funded Public Housing with subsidies that help pay tenants' rent, the property is likely to have a long waiting list. Housing authorities often open these waiting lists periodically. Important: Housing authorities don't always open housing waiting lists at a property-specific level or even allow applicants to choose at which property they can live. Many times, the housing authority will assign an applicant to a property without giving the applicant a choice.
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.
This property is funded through HUD’s Public Housing program. These properties are typically owned and managed by a Public Housing Authority. These properties tend to be much older, as no new public housing has been built in many years. Since the Federal budget has historically (and notoriously) underfunded public housing renovations for decades, these properties tend to have higher vacancies due to uninhabitable units or liveable units that are in poor condition. In addition, since all public housing properties offer rent subsidies, low-income residents only pay rent based on their incomes. For that reason, these properties tend to have longer waiting lists. Check our public housing waiting list data for more information. Since Lake Towers participates in the Public Housing program and has a property based subsidy, if you have a Section 8 voucher, you would have to give up your voucher to move in.
~ Dave Layfield, Founder of Affordable Housing Online
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $16,900 / year | $19,720 / year | $24,860 / year | $30,000 / year | $35,140 / year | $40,280 / year | $45,420 / year | $50,560 / year |
| 50% AMI for LIHTC Units | $28,150 / year | $32,150 / year | $36,150 / year | $40,150 / year | $43,400 / year | $46,600 / year | $49,800 / year | $53,000 / year |
| 50% AMI for PBRA Units | $28,150 / year | $32,150 / year | $36,150 / year | $40,150 / year | $43,400 / year | $46,600 / year | $49,800 / year | $53,000 / year |
| 80% AMI for PBRA Units | $45,000 / year | $51,400 / year | $57,850 / year | $64,250 / year | $69,400 / year | $74,550 / year | $79,700 / year | $84,850 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Lake Towers have a waiting list?
Lake Towers probably has a waiting list. Since our research has shown there are some public housing units at this property, the waiting list would be for those units. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Lake Towers?
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 Lake Towers, how many other affordable housing properties (and units) are there in Shelbyville?
In addition to Lake Towers, we list 6 other affordable properties in Shelbyville. Learn about these properties here. Our data research shows that there are a total of 281 affordable units in Shelbyville.
Prepare to pay a fee to apply for units that accept Section 8 vouchers.
While there is no charge for Section 8 applications, a private landlord may charge a fee to apply for an available unit.Ashley Prince says:
"Affordable Housing Online helped me stay ahead of the game to find out about waiting list openings in my high demand area."