100 2nd Ave, Des Moines, IA 50309
Waiting List Forecast: Likely Short or None
Verified for 2020 by Sherman Marketing, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $925 - 1,075 per Month† | 1 - 2 Beds | 1 - 2 Baths | 618 - 910 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.
Metro Lofts is the place to live in Des Moines. In the heart of the Court Avenue district, one of Des Moines’ most desirable rental markets, Metro Lofts offers the modern conveniences that you desire in a stylish and convenient atmosphere. Live within walking distance of some of the city’s best dining and nightlife. Spend the warm summer months walking along the river, which is only a block away, or enjoying a baseball game at Principal Park.
Every apartment rental includes exclusive access to the computer learning center and fitness facility. Underground heated parking will keep your car warm and clean through all the weather changes of the year. Their professional management and maintenance team is available on-site throughout the week and the emergency services will take care of your every concern after hours.
Go to Metro Lofts and you’ll find yourself wondering, “Why wouldn’t you live here?” We can’t think of a good reason not to. Make it your home today!
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 Metro Lofts 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. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | 618ft2 | $925† |
| 2 Bedroom | 2 Bathroom (2/2) | 903ft2 | $1,075† |
| 2 Bedroom | 1 Bathroom (2/1) | 910ft2 | $995† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $36,550 / year | $41,750 / year | $46,950 / year | $52,150 / year |
| 50% AMI for PBRA Units | $36,550 / year | $41,750 / year | $46,950 / year | $52,150 / year |
| 60% AMI for LIHTC Units | $43,860 / year | $50,100 / year | $56,340 / year | $62,580 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Metro Lofts have a waiting list?
Metro Lofts 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 Metro Lofts?
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 Metro Lofts?
Metro Lofts is managed by Sherman Associates headquartered in Minneapolis, MN.
In addition to Metro Lofts, how many other affordable housing properties (and units) are there in Des Moines?
In addition to Metro Lofts, we list 208 other affordable properties in Des Moines. Learn about these properties here. Our data research shows that there are a total of 7312 affordable units in Des Moines.
1401 E Capitol Ave, Des Moines, Iowa 50316
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