520 North Market Street, Frederick, MD 21701
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 - 2 Baths | 600 - 1,117 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.
520 North Market Street is a new downtown Frederick affordable housing community. A unique mix of rehab and new construction with a variety of layouts and sizes. Floorplans include 1, 2, or 3 bedroom units. There is also a community room, computer lab, rooftop deck, and onsite parking.
Because 520 North Market Apartments 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.
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| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 600ft2 | Call for Price† |
| Two Bedroom (2/1) | 1117ft2 | Call for Price† |
| Three Bedroom (3/2) | 1112ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $52,750 / year | $60,300 / year | $67,850 / year | $75,350 / year | $81,400 / year | $87,450 / year |
| 50% AMI for PBRA Units | $52,750 / year | $60,300 / year | $67,850 / year | $75,350 / year | $81,400 / year | $87,450 / year |
| 60% AMI for LIHTC Units | $63,300 / year | $72,360 / year | $81,420 / year | $90,420 / year | $97,680 / year | $104,940 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does 520 North Market Apartments have a waiting list?
520 North Market 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 520 North Market 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 520 North Market Apartments?
520 North Market Apartments is managed by Interfaith Housing Alliance Inc. headquartered in Frederick, Maryland.
In addition to 520 North Market Apartments, how many other affordable housing properties (and units) are there in Frederick?
In addition to 520 North Market Apartments, we list 50 other affordable properties in Frederick. Learn about these properties here. Our data research shows that there are a total of 1902 affordable units in Frederick.
When was the 520 North Market Apartments listing last updated?
520 North Market Apartments listing on Affordable Housing Online was last updated on 01/01/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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