New Riverbend Homes

359 Sommer Way, Elyria, Ohio 44035

New Riverbend Homes Details

  • 60 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Elyria Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Elyria but actual income limits may differ for units at New Riverbend Homes.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $29,900 $34,200 $38,450 $42,700 $46,150 $49,550 $52,950 $56,400
Low Income (60%) $35,880 $41,040 $46,140 $51,240 $55,380 $59,460 $63,540 $67,680

Nearby Low Income Apartment Communities

The Cottages at Riverview

550 Sommer Way
Elyria, Ohio
$315-880
1-2 BR
Affordable

Arlington Square

150 David Dr
Elyria, Ohio
Call For Rent
1-2 BR
Rent Assisted

Bridge Pointe Commons

338 East Bridge St
Elyria, Ohio
Call For Rent
1 BR
Supportive Housing
Affordable

Chadwick Place

160 Ridge Circle Ln
Elyria, Ohio
Call For Rent
2-4 BR
Rent Assisted
Affordable