801 Penn Street, Reading, PA 19601
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $650 - 760 per Month† | 1 - 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.
Market Square Apartments are an affordable community offering one and two bedroom units for residents 55+. For more information, please contact their management office.
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 Market Square 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) | - | $650 $670† |
| Two Bedroom (2/1) | - | $760† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $33,400 / year | $38,150 / year | $42,900 / year | $47,650 / year |
| 50% AMI for PBRA Units | $33,400 / year | $38,150 / year | $42,900 / year | $47,650 / year |
| 60% AMI for LIHTC Units | $40,080 / year | $45,780 / year | $51,480 / year | $57,180 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Market Square Apartments have a waiting list?
Market Square 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 Market Square 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 Market Square Apartments?
Market Square Apartments is managed by Housing Development Corporation MidAtlantic (HDC MidAtlantic) headquartered in Lancaster, Pennsylvania.
In addition to Market Square Apartments, how many other affordable housing properties (and units) are there in Reading?
In addition to Market Square Apartments, we list 39 other affordable properties in Reading. Learn about these properties here. Our data research shows that there are a total of 5189 affordable units in Reading.
When was the Market Square Apartments listing last updated?
Market Square Apartments listing on Affordable Housing Online was last updated on 06/06/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
Housing options for immigrants.
Some housing programs do not have a citizenship requirement, such as Low-Income Housing Tax Credit apartments.Mili Rodriguez says:
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