Richardson Lofts

50 Columbia Ave, Newark, NJ 07106

Waiting List Forecast: Likely Short or None

check_circleVerified for 2024 by Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	Floorplan Info Upon Request	-	-

Waitlist Forecast

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.

Dave's Thoughts On Richardson Lofts

Because Richardson Lofts 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.

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Richardson Lofts

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
50% AMI for LIHTC Units	$42,650 / year	$48,750 / year	$54,850 / year	$60,900 / year	$65,800 / year	$70,650 / year	$75,550 / year	$80,400 / year
50% AMI for PBRA Units	$42,650 / year	$48,750 / year	$54,850 / year	$60,900 / year	$65,800 / year	$70,650 / year	$75,550 / year	$80,400 / year
60% AMI for LIHTC Units	$51,180 / year	$58,500 / year	$65,820 / year	$73,080 / year	$78,960 / year	$84,780 / year	$90,660 / year	$96,480 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Richardson Lofts

Does Richardson Lofts have a waiting list?

Richardson Lofts 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 Richardson Lofts?

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.

In addition to Richardson Lofts, how many other affordable housing properties (and units) are there in Newark?

In addition to Richardson Lofts, we list 249 other affordable properties in Newark. Learn about these properties here. Our data research shows that there are a total of 23374 affordable units in Newark.

When was the Richardson Lofts listing last updated?

Richardson Lofts listing on Affordable Housing Online was last updated on 06/07/2024 by Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.