Rhea County New Development

123 Hattie Ln, Spring City, TN 37381

Waiting List Forecast: Likely Short or None

check_circleVerified for 2024 by Colleen Carter, Ric Gresia
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 Rhea County New Development

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 Rhea County New Development 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. As a LIHTC property that chose the 20/50 election, this property has agreed to set aside at least 20% of its units for families and individuals earning 50% of Area Median Income (AMI). Many of these properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with very low incomes.

Dave, Founder AHO

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Rhea County New Development

*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 $23,400 / year $26,750 / year $30,100 / year $33,400 / year $36,100 / year $38,750 / year $41,450 / year $44,100 / year
50% AMI for PBRA Units $23,400 / year $26,750 / year $30,100 / year $33,400 / year $36,100 / year $38,750 / year $41,450 / year $44,100 / year
60% AMI for LIHTC Units $28,080 / year $32,100 / year $36,120 / year $40,080 / year $43,320 / year $46,500 / year $49,740 / year $52,920 / year

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

FAQs for Rhea County New Development

Does Rhea County New Development have a waiting list?

Rhea County New Development 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 Rhea County New Development?

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 Rhea County New Development, how many other affordable housing properties (and units) are there in Spring City?

In addition to Rhea County New Development, we list 5 other affordable properties in Spring City. Learn about these properties here. Our data research shows that there are a total of 236 affordable units in Spring City.

When was the Rhea County New Development listing last updated?

Rhea County New Development listing on Affordable Housing Online was last updated on 06/07/2024 by Colleen Carter. Remember, a property's status can change so you should contact the property to confirm.

Listings Near Rhea County New Development

Cherry Hill Apartments

140 Cherry Hill Ln, Spring City, Tennessee 37381

payment Subsidized
elderly Senior
accessibility Accessible

253 Barger Ln

253 Barger Ln, Spring City, Tennessee 37381

bed 1
payment $400/mo.

Autumn Ridge Apartments

116 Autumn Ridge Ct, Spring City, Tennessee 37381

switch_access_shortcut Short Wait
accessibility Accessible

Hattie Ln

Hattie Ln, Spring City, Tennessee 37381

Valleyview Apartments

455 Cemetery Rd, Spring City, Tennessee 37381

switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.

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