507 Rogers Road, Lexington, KY 40505
Waiting List Forecast: Likely Short or None
Verified for 2022 by Ayat Elkarib| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio Bed | 1 Bath | - |
This property is currently under construction.
Expected to be completed in April 2020
Independence Homes is a 24-unit addition to the Bob Brown House for adults with special needs. When completed in April 2020, it will also contain a new, larger kitchen as well as common living and dining areas accessible to residents of both buildings.
Designed for secure, independent living, each apartment combines bedroom and living areas for a studio layout (350-400 SF) opening to a courtyard. Three meals are provided daily in the dining room. There are on-site laundry facilities as well as cable and Wi-Fi internet access in the common areas.
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 Independence Homes 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $31,300 / year | $35,750 / year | $40,200 / year | $44,650 / year | $48,250 / year | $51,800 / year | $55,400 / year | $58,950 / year |
| 50% AMI for PBRA Units | $31,300 / year | $35,750 / year | $40,200 / year | $44,650 / year | $48,250 / year | $51,800 / year | $55,400 / year | $58,950 / year |
| 60% AMI for LIHTC Units | $37,560 / year | $42,900 / year | $48,240 / year | $53,580 / year | $57,900 / year | $62,160 / year | $66,480 / year | $70,740 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Independence Homes Apartments have a waiting list?
Independence Homes 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 Independence Homes 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 Independence Homes Apartments?
Independence Homes Apartments is managed by The Ezekiel Foundation headquartered in Lexington, KY.
In addition to Independence Homes Apartments, how many other affordable housing properties (and units) are there in Lexington?
In addition to Independence Homes Apartments, we list 176 other affordable properties in Lexington. Learn about these properties here. Our data research shows that there are a total of 5333 affordable units in Lexington.
1601 Villa Medici Pass, Lexington, Kentucky 40509
179 Market St, Lexington, Kentucky 40507
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