Rumely Lofts, located at 104 SW 4th St in Des Moines, has one and two bedroom apartments. Rumely Lofts participates in the Low-Income Housing Tax Credit (LIHTC) program.
|1 Bedroom (1/1)||-||Call for Price|
|2 Bedroom (2/2)||-||Call for Price|
Rumely Lofts offer stained concrete floors, exposed brick walls, tall windows, and 12-14’ ceilings lend the texture and character of Rumely’s history while evoking a spacious and airy feeling. With a complete building renovation, we have created modern living spaces that still feel like they have stories to tell. The brick walls and concrete floors look stylish and rustic, but updates to the building mean you do not have to compromise on modern conveniences. With reasonable rents in the downtown area, incredible views of Downtown Des Moines, and a central location, Rumely Lofts is a building you can’t pass up.
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Des Moines but actual income limits may differ for units at Rumely Lofts.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$30,650||$35,000||$39,400||$43,750||$47,250||$50,750||$54,250||$57,750|
|Low Income (60%)||$36,780||$42,000||$47,280||$52,500||$56,700||$60,900||$65,100||$69,300|
Rumely Lofts was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.
Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.
Rumely Lofts is managed by Sherman Associates.