55 E Franklin Street, Ephrata, PA 17522
Waiting List Forecast: Likely Short or None
Verified for 2022 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $565 - 751 per Month† | Studio - 2 Beds | 1 Bath | - |
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.
Property Information
Number of Units: 41
Occupancy: Senior 55+
Rent Type(s): Income Limits Apply,Rents Based on Income (select units),Section 8 Vouchers Accepted (select units),
Additional Information:
Accepting Applications for Waiting List
Studio/Efficiency Apartments $565
1 Bedroom Apartments from $610 – $640
2 Bedroom Apartments from $736 – $751
Rent includes heat, water, sewer and trash removal
*Minimum and maximum income guidelines may apply
Mod rehab
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 Franklin Street 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) | - | $565† |
| One Bedroom (1/1) | - | $610 $640† |
| Two Bedroom (2/1) | - | $736 $751† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $33,450 / year | $38,200 / year | $43,000 / year | $47,750 / year |
| 50% AMI for PBRA Units | $33,450 / year | $38,200 / year | $43,000 / year | $47,750 / year |
| 60% AMI for LIHTC Units | $40,140 / year | $45,840 / year | $51,600 / year | $57,300 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Franklin Street Apartments have a waiting list?
Franklin Street 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 Franklin Street 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 Franklin Street Apartments?
Franklin Street Apartments is managed by Housing Development Corporation MidAtlantic (HDC MidAtlantic) headquartered in Lancaster, Pennsylvania.
In addition to Franklin Street Apartments, how many other affordable housing properties (and units) are there in Ephrata?
In addition to Franklin Street Apartments, we list 2 other affordable properties in Ephrata. Learn about these properties here. Our data research shows that there are a total of 113 affordable units in Ephrata.
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