314 NW 5th Avenue, Portland, OR 97209
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $930 - 1,177 per Month† | Studio - 2 Beds | 1 Bath | 425 - 800 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.
Fifth Avenue Place offers spacious studio, one-bedroom and two-bedroom apartment homes. Each apartment is equipped with a full-size kitchen with a stove, refrigerator, dishwasher, extra-large windows with mini blinds, ceiling fans, and ten-foot ceilings. Fifth Avenue Place is just steps from restaurants, specialty shops, night clubs, music venues, art galleries, museums, the Classical Chinese Gardens, and Portland’s famous “Saturday Market”. The Portland City Streetcar or Max Line is just one block away.
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 Fifth Avenue Place 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | 425ft2 | $930† |
| 1 Bedroom (1/1) | 585ft2 | $984† |
| 2 Bedroom (2/1) | 800ft2 | $1,177† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $39,500 / year | $45,150 / year | $50,800 / year | $56,400 / year |
| 50% AMI for PBRA Units | $39,500 / year | $45,150 / year | $50,800 / year | $56,400 / year |
| 60% AMI for LIHTC Units | $47,400 / year | $54,180 / year | $60,960 / year | $67,680 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Fifth Avenue Place Apartments have a waiting list?
Fifth Avenue Place 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 Fifth Avenue Place 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 Fifth Avenue Place Apartments?
Fifth Avenue Place Apartments is managed by Meritus Property Group headquartered in Portland, OR.
In addition to Fifth Avenue Place Apartments, how many other affordable housing properties (and units) are there in Portland?
In addition to Fifth Avenue Place Apartments, we list 696 other affordable properties in Portland. Learn about these properties here. Our data research shows that there are a total of 21786 affordable units in Portland.
When was the Fifth Avenue Place Apartments listing last updated?
Fifth Avenue Place Apartments listing on Affordable Housing Online was last updated on 04/24/2023 by Colleen Carter. Remember, a property's status can change so you should contact the property to confirm.
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