11 Independence Dr, Somerset, KY 42501
Waiting List Forecast: Likely Short or None
Verified for 2024 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 Bath | 788 - 1,020 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 Eagles Landing Apartments in Somerset, Kentucky, thoughtfully redesigned with you in mind! This community offer spacious 1- and 2-bedroom apartments for senior adults 62 and over, each unit equipped with central heat/air, washer/dryer connections and kitchen appliances.
This property offers many additional amenities, such as a clubhouse with community room and laundry, community garden, picnic area with gazebo, a playground for the grandkids, and even a putting green! Great shopping and dining options are found within walking distance, with many more options along nearby US-27. Rent includes water/sewer and garbage removal.
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 Eagles Landing Senior Community 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 20/50 election, this property has agreed to set aside at least 20% of its units for families and individuals earning 50% of Area Median Income (AMI). Many of these 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 very low incomes.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 788ft2 | Call for Price† |
| Two Bedroom (2/1) | 1020ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $22,500 / year | $25,700 / year | $28,900 / year | $32,100 / year |
| 50% AMI for PBRA Units | $22,500 / year | $25,700 / year | $28,900 / year | $32,100 / year |
| 60% AMI for LIHTC Units | $27,000 / year | $30,840 / year | $34,680 / year | $38,520 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Eagles Landing Senior Community have a waiting list?
Eagles Landing Senior Community 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 Eagles Landing Senior Community?
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 Eagles Landing Senior Community?
Eagles Landing Senior Community is managed by Olympia Management INC headquartered in Albertville, AL.
In addition to Eagles Landing Senior Community, how many other affordable housing properties (and units) are there in Somerset?
In addition to Eagles Landing Senior Community, we list 24 other affordable properties in Somerset. Learn about these properties here. Our data research shows that there are a total of 873 affordable units in Somerset.
When was the Eagles Landing Senior Community listing last updated?
Eagles Landing Senior Community listing on Affordable Housing Online was last updated on 03/06/2024 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
299 James Street, Somerset, Kentucky 42501
Always check the program's income limit.
Most federal housing programs serve renters earning 80% or less of the Area Median Income (AMI), or less.Takesha Powell says:
"Affordable Housing Online is a great resource that provides a lot of helpful links to get low-income and affordable housing."