504 Van Fossen Ln, Adel, IA 50003
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $660 per Month† | 1 Bed | 1 Bath | 500 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.
Van Fossen Square is Adel's newest independent living community for seniors age 55+, offering quality one bedroom apartments in a country setting our residents love to call home. They are pet-friendly (with restrictions) at this property.
Because Van Fossen Square participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 500ft2 | $660† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $36,550 / year | $41,750 / year | $46,950 / year | $52,150 / year | $56,350 / year | $60,500 / year | $64,700 / year | $68,850 / year |
| 50% AMI for PBRA Units | $36,550 / year | $41,750 / year | $46,950 / year | $52,150 / year | $56,350 / year | $60,500 / year | $64,700 / year | $68,850 / year |
| 60% AMI for LIHTC Units | $43,860 / year | $50,100 / year | $56,340 / year | $62,580 / year | $67,620 / year | $72,600 / year | $77,640 / year | $82,620 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Van Fossen Square have a waiting list?
Van Fossen Square 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 Van Fossen Square?
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 Van Fossen Square?
Van Fossen Square is managed by Community Housing Initiatives headquartered in Spencer, Iowa.
In addition to Van Fossen Square, how many other affordable housing properties (and units) are there in Adel?
In addition to Van Fossen Square, we list 2 other affordable properties in Adel. Learn about these properties here. Our data research shows that there are a total of 116 affordable units in Adel.
When was the Van Fossen Square listing last updated?
Van Fossen Square listing on Affordable Housing Online was last updated on 03/02/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
Do you have little or no income?
Be aware that some housing assistance programs have a minimum income requirement, such as Low-Income Housing Tax Credit aparments.Lorraine Dale says:
"I have visited Affordable Housing Online over and over again to get on waiting lists. I never would have even gotten on them without this information!"