1226 North Illinois St, Indianapolis, IN 46202
Waiting List Forecast: Likely Short or None
Verified for 2019 by Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $531 - 1,125 per Month† | Studio - 3 Beds | 1 - 2 Baths | 556 - 1,267 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.
Welcome to Stonegate Apartments, Enjoy city living and the comfort of Indianapolis-living in this community.
Our spacious 1, 2 and 3 bedroom apartment homes are thoughtfully designed with your comfort in mind and are appointed with the premium materials and finishes you deserve such as central heating and air and dishwashers.
In addition to our great floor plans and maintenance free living, our community has the amenities you would expect and much more. For your pleasure, our community features washer/dryer hookups, on-site laundry, and a fitness center. Enjoy the benefits of community living with the added perks of living minutes away from downtown Indianapolis. Stonegate is ideally situated to give you easy access to the best of what the area has to offer. We are located a short distance from Lucas Oil Stadium, Shopping, and the Indianapolis Speedway.
Housing Choice Vouchers are accepted at this community. Maximum income guidelines apply. Security deposit required. Call us today to make an appointment to see for yourself why Stonegate should be your new home. We look forward to hearing from you!
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 Stonegate 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. 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 |
|---|---|---|
| Studio (Studio/1) | 556ft2 | $531 $653† |
| 1 Bedroom (1/1) | 775ft2 | $700† |
| 2 Bedroom A (2/1) | 1005ft2 | $665 $900† |
| 2 Bedroom B (2/2) | 1100ft2 | $665 $900† |
| 3 Bedroom (3/2) | 1267ft2 | $769 $1,125† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $33,850 / year | $38,700 / year | $43,550 / year | $48,350 / year | $52,250 / year | $56,100 / year |
| 50% AMI for PBRA Units | $33,850 / year | $38,700 / year | $43,550 / year | $48,350 / year | $52,250 / year | $56,100 / year |
| 60% AMI for LIHTC Units | $40,620 / year | $46,440 / year | $52,260 / year | $58,020 / year | $62,700 / year | $67,320 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Stonegate Apartments have a waiting list?
Stonegate 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 Stonegate 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 Stonegate Apartments?
Stonegate Apartments is managed by Millennia Housing Management headquartered in Cleveland, Ohio.
In addition to Stonegate Apartments, how many other affordable housing properties (and units) are there in Indianapolis?
In addition to Stonegate Apartments, we list 319 other affordable properties in Indianapolis. Learn about these properties here. Our data research shows that there are a total of 22718 affordable units in Indianapolis.
8905 Evergreen Ave, Indianapolis, Indiana 46240
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