500 McCallie Ave, Durham, NC 27704
Waiting List Forecast: Likely Short or None
Verified for 2024 by Andrianna Gardner, Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $804 - 1,629 per Month† | Studio - 3 Beds | 1 - 2 Baths | 300 - 1,000 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.
Less than a block from Sherwood Park the tree-lined apartment community of Sherwood Park Apartments is perfectly located for all of your needs. The community building is perfect for the planned social events. Your new home has a spacious patio or balcony, a walk-in closet, washer/dryer connections, and energy-efficient heating and cooling. The professional management team is on-site to take care of your home so all you have to do is enjoy it.
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 Sherwood Park Apartments 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 |
|---|---|---|
| Studio (Studio/1) | 300ft2 | $817† |
| One Bedroom (1/1) | 600ft2 | $804† |
| Two Bedroom (2/1) | 800ft2 | $1,412† |
| Three Bedroom (3/2) | 1000ft2 | $1,629† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $35,400 / year | $40,450 / year | $45,500 / year | $50,550 / year | $54,600 / year | $58,650 / year |
| 50% AMI for PBRA Units | $35,400 / year | $40,450 / year | $45,500 / year | $50,550 / year | $54,600 / year | $58,650 / year |
| 60% AMI for LIHTC Units | $42,480 / year | $48,540 / year | $54,600 / year | $60,660 / year | $65,520 / year | $70,380 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Sherwood Park Apartments have a waiting list?
Sherwood Park 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 Sherwood Park 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 Sherwood Park Apartments?
Sherwood Park Apartments is managed by The Michaels Organization headquartered in Camden, NJ.
In addition to Sherwood Park Apartments, how many other affordable housing properties (and units) are there in Durham?
In addition to Sherwood Park Apartments, we list 367 other affordable properties in Durham. Learn about these properties here. Our data research shows that there are a total of 6546 affordable units in Durham.
When was the Sherwood Park Apartments listing last updated?
Sherwood Park Apartments listing on Affordable Housing Online was last updated on 01/19/2024 by Andrianna Gardner. Remember, a property's status can change so you should contact the property to confirm.
1519 Savannah Pl, Durham, North Carolina 27713
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