Somerset Brownstone

25-49 Somerset St., Newark, NJ 07103

Waiting List Forecast: Likely Short or None

check_circleVerified for 2022 by Connor Bailey, Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	2 - 3 Beds	1 Bath	950 - 1,155 Sq Ft

Call (844) 689-0155

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.

Somerset Brownstones is a new affordable community that consists of two (2) and three (3) bedroom apartments. Your new apartment has everything that you need; spacious living area with engineered hardwood floors, central air, free parking Each apartment home is equipped with an energy-efficient refrigerator and stove with spacious countertops fully ready to accommodate the chef in you They have also included washer/dryer connections.

Dave's Thoughts On Somerset Brownstone

Because Somerset Brownstone 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

Somerset Brownstone Amenities

Air Conditioning
Washer and Dryer Hookup
Refrigerator
Oven and Range
Heat Included

Units at Somerset Brownstone

Unit (Bd/Ba)	Ft²	Rent
Two Bedroom (2/1)	950ft²	Call for Price^†
Three Bedroom (3/1)	1155ft²	Call for Price^†

Income Qualification for Somerset Brownstone

*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
50% AMI for LIHTC Units	$42,650 / year	$48,750 / year	$54,850 / year	$60,900 / year	$65,800 / year	$70,650 / year
50% AMI for PBRA Units	$42,650 / year	$48,750 / year	$54,850 / year	$60,900 / year	$65,800 / year	$70,650 / year
60% AMI for LIHTC Units	$51,180 / year	$58,500 / year	$65,820 / year	$73,080 / year	$78,960 / year	$84,780 / year

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

FAQs for Somerset Brownstone

Does Somerset Brownstone have a waiting list?

Somerset Brownstone 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 Somerset Brownstone?

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 Somerset Brownstone?

Somerset Brownstone is managed by The Michaels Organization headquartered in Camden, NJ.

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

In addition to Somerset Brownstone, 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 Somerset Brownstone listing last updated?

Somerset Brownstone listing on Affordable Housing Online was last updated on 12/28/2022 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.