430 Reed St, Philadelphia, PA 19147
Waiting List Forecast: Likely Short or None
Verified for 2024 by Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 Bed | 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.
Mount Sinai Apartments offer spacious 1-bedroom floor plans for seniors age 62 and older. Each unit features a fully-equipped kitchen, ample closet space, wall-to-wall carpeting, modern appliances, central heating, and air conditioning. Property amenities include a community room, on-site laundry room, social club, and weekly events for residents. Mount Sinai Apartments are located in South Philadelphia just minutes away from the International Market, South Street, a variety of supermarkets, senior centers and pharmacies.
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 Mount Sinai 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 |
|---|---|---|
| One Bedroom (1/1) | - | Call for Price† |
| One Bedroom (Floors) (1/1) | - | Call for Price† |
| AMI* | 1 person | 2 people |
|---|---|---|
| 50% AMI for LIHTC Units | $39,100 / year | $44,650 / year |
| 50% AMI for PBRA Units | $39,100 / year | $44,650 / year |
| 60% AMI for LIHTC Units | $46,920 / year | $53,580 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Mount Sinai Apartments have a waiting list?
Mount Sinai 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 Mount Sinai 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 Mount Sinai Apartments?
Mount Sinai Apartments is managed by The Michaels Organization headquartered in Camden, NJ.
In addition to Mount Sinai Apartments, how many other affordable housing properties (and units) are there in Philadelphia?
In addition to Mount Sinai Apartments, we list 785 other affordable properties in Philadelphia. Learn about these properties here. Our data research shows that there are a total of 36088 affordable units in Philadelphia.
When was the Mount Sinai Apartments listing last updated?
Mount Sinai Apartments listing on Affordable Housing Online was last updated on 06/25/2024 by Colleen Carter. Remember, a property's status can change so you should contact the property to confirm.
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