University Square Apartments

3901 Market Street, Philadelphia, PA 19104

Waiting List Forecast: Likely Long or Closed for Rent Assisted units, and Likely Short or None for other affordable units

check_circleVerified for 2023 by Joshua Cappell

Rent	Beds	Baths	SqFt
$829 per Month^†	1 Bed	1 Bath	550 Sq Ft

Call (215) 387-4985 Email

Waitlist Forecast

Since this property is a LIHTC property that may have rental assistance for some or all units, there might be seperate or split waiting lists for rental assistance and non-rental assistance units. In this case, the rental assistance waiting list can be much longer than properties without rental assistance. The non-rental assistance units waiting list is likely much shorter or it may not have a waiting list at all. 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.

University Square is a HUD subsidized community for adults 62 . The bus stops at our property. We are located within a block of the 40th Street Station, shopping, restaurants, grocery stores, and pharmacies. We have a computer center, an exercise room, a laundry facility on every floor, elevators, and 24-hour courtesy patrol. Our resident service coordinator helps our residents maintain their independence as well as arranging various activities. A Korean interpreter is on-site 3 half-days every week. We also have a monthly newletter that allows us to communicate upcoming events with our residents, such as the fresh grocer who comes to our property every Friday. All utilities included.TTY # (800) 654-5984

Dave's Thoughts On University Square Apartments

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. The LIHTC program doesn't provide direct subsidies to the residents, but the owner must set rents affordable to low-income renters in the area. This property does participate in the Section 8 Project-Based Rental Assistance program and your rent would be subsidized and based on your income. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. LIHTC properties tend to have shorter waiting lists however, since University Square Apartments has a project-based subsidy, the waiting list is likely much longer than other local LIHTC properties. LIHTC properties nationwide are required to accept housing vouchers however, since this property has a Section 8 Project-Based Rental Assistance contract, your Section 8 voucher can not be used here. LIHTC properties were first built in the late 1980's and the LIHTC program funds the renovation of older properties. Because they tend to be newer or renovated, 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 need help paying your rent and are willing to wait for a longer waiting list.

~ Dave Layfield, Founder of Affordable Housing Online

University Square Apartments Amenities

Elevator
Fitness Center
Close to Public Transportation
Laundry Room
Covered Parking
Air Conditioning
All Appliances included
Dishwasher
Cable and Satellite TV
Utilities Included
Window Coverings
Carpet
Premium Flooring
Security System

Units at University Square Apartments

Unit (Bd/Ba)	Ft²	Rent
One Bedroom (1/1)	550ft²	$829^†

Income Qualification for University Square Apartments

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
30% AMI for PBRA Units	$23,450 / year	$26,800 / year	$30,150 / year	$33,500 / year	$36,200 / year	$40,280 / year	$45,420 / year	$50,560 / year
50% AMI for LIHTC Units	$39,100 / year	$44,650 / year	$50,250 / year	$55,800 / year	$60,300 / year	$64,750 / year	$69,200 / year	$73,700 / year
50% AMI for PBRA Units	$39,100 / year	$44,650 / year	$50,250 / year	$55,800 / year	$60,300 / year	$64,750 / year	$69,200 / year	$73,700 / year
60% AMI for LIHTC Units	$46,920 / year	$53,580 / year	$60,300 / year	$66,960 / year	$72,360 / year	$77,700 / year	$83,040 / year	$88,440 / year
80% AMI for PBRA Units	$62,500 / year	$71,400 / year	$80,350 / year	$89,250 / year	$96,400 / year	$103,550 / year	$110,700 / year	$117,850 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for University Square Apartments

Does University Square Apartments have a waiting list?

University Square Apartments probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at University Square Apartments?

We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.

What property management company manges University Square Apartments?

University Square Apartments is managed by NHPMN Management headquartered in Greenville , South Carolina.

In addition to University Square Apartments, how many other affordable housing properties (and units) are there in Philadelphia?

In addition to University Square 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.

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