Cornerstone Apartments

1220 East Blvd, Rapid City, SD 57701

Waiting List Forecast: Likely Short or None

check_circleVerified for 2024 by Joshua Cappell
Rent Beds Baths SqFt
Call for Rents Floorplan Info Upon Request - -
check_circle  Accepts Section 8 Housing Choice Vouchers (HCV)
check_circle  Affordable

Waitlist Forecast

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.

Dave's Thoughts On Cornerstone Apartments

Because Cornerstone Apartments participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.

Dave, Founder AHO

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Cornerstone 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
50% AMI for LIHTC Units $31,400 / year $35,900 / year $40,400 / year $44,850 / year $48,450 / year $52,050 / year $55,650 / year $59,250 / year
50% AMI for PBRA Units $31,400 / year $35,900 / year $40,400 / year $44,850 / year $48,450 / year $52,050 / year $55,650 / year $59,250 / year
60% AMI for LIHTC Units $37,680 / year $43,080 / year $48,480 / year $53,820 / year $58,140 / year $62,460 / year $66,780 / year $71,100 / year

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

FAQs for Cornerstone Apartments

Does Cornerstone Apartments have a waiting list?

Cornerstone 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 Cornerstone 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.

In addition to Cornerstone Apartments, how many other affordable housing properties (and units) are there in Rapid City?

In addition to Cornerstone Apartments, we list 62 other affordable properties in Rapid City. Learn about these properties here. Our data research shows that there are a total of 2285 affordable units in Rapid City.

When was the Cornerstone Apartments listing last updated?

Cornerstone Apartments listing on Affordable Housing Online was last updated on 06/07/2024 by Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.

Listings Near Cornerstone Apartments

Rapid Creek

1158 Anamosa St , Rapid City, South Dakota 57701

bed 3-4
payment $679-728/mo.
switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
payment Income Based
accessibility Accessible

Maplewood Apartments

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bed 1-4
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Pine Crest Village

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switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
payment Income Based
accessibility Accessible

Edgewood Estates

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bed 2-3
payment $479-876/mo.
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
payment Income Based
accessibility Accessible

Eagle Ridge

121 Stumer Rd , Rapid City, South Dakota 57701

bed 2-3
payment $452-877/mo.
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
accessibility Accessible

Whisper Rock Apartments

4216 Berniece Street, Rapid City, South Dakota 57703

bed 1-3
payment $270-830/mo.
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
payment Income Based
accessibility Accessible
Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.

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