745 Stocking Avenue, Grand Rapids, MI 49504
Waiting List Forecast: Likely Short or None
Verified for 2022 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $747 - 1,400 per Month† | 1 - 3 Beds | 1 - 2 Baths | 715 - 1,346 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.
With a community room, fitness center, laundry faility, and more, Seven45 Stocking has something for everyone. This community features 1, 2, and 3-bedroom apartments with energy efficient electric appliances, washer/dryer hookups, and central air conditioning. We are conveniently located 2 minutes from Bridge Street Market, 3 minutes from Lincoln Park and USPS, 5 minutes from the heart of downtown Grand Rapids and Riverwalk, and 10 minutes from Green Orchard Shopping Center.
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 Seven45 Stocking 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 |
|---|---|---|
| 1 Bedroom (1/1) | 715ft2 | $747† |
| 2 Bedroom (2/1) | 1016ft2 | $1,350 $1,400† |
| 3 Bedroom (3/2) | 1346ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $19,900 / year | $22,750 / year | $25,600 / year | $30,000 / year | $35,140 / year | $40,280 / year |
| 50% AMI for LIHTC Units | $33,150 / year | $37,900 / year | $42,650 / year | $47,350 / year | $51,150 / year | $54,950 / year |
| 50% AMI for PBRA Units | $33,150 / year | $37,900 / year | $42,650 / year | $47,350 / year | $51,150 / year | $54,950 / year |
| 60% AMI for LIHTC Units | $39,780 / year | $45,480 / year | $51,180 / year | $56,820 / year | $61,380 / year | $65,940 / year |
| 80% AMI for PBRA Units | $53,050 / year | $60,600 / year | $68,200 / year | $75,750 / year | $81,850 / year | $87,900 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Seven45 Stocking have a waiting list?
Seven45 Stocking 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 Seven45 Stocking?
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 Seven45 Stocking?
Seven45 Stocking is managed by Woda Cooper Companies, Inc. headquartered in Columbus, OH.
In addition to Seven45 Stocking, how many other affordable housing properties (and units) are there in Grand Rapids?
In addition to Seven45 Stocking, we list 197 other affordable properties in Grand Rapids. Learn about these properties here. Our data research shows that there are a total of 5694 affordable units in Grand Rapids.
347 Franklin St. SW, Grand Rapids, Michigan 49503
Section 8 vouchers can be moved to another area.
Once certain conditions are met, a Section 8 voucher may be transferred to another area (known as "porting").Vickie Fields-Byrd says:
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