5401 54th St, Lubbock, TX 79414
Waiting List Forecast: Likely Long or Closed
Verified for 2023 by Katie Garay| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 Bath | 605 - 898 Sq Ft |
Since this property may have a Section 8 Property Based Rental Assistance contract with rental assistance available to its residents, it is likely the property has a waiting list. Sometimes these waiting lists can be months or years long and may or may not be accepting new applicants. 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.
Silver Village is garden style living in Lubbock, TX. Requirements to live in these apartments are for seniors 62+ and/or disabled and remain within the Lubbock County HUD income limits. We offer affordable housing with your own private entrance and a backyard patio for every unit with plenty of yard space for your 4 legged family members. We have 24 hour emergency maintenance and coin laundry for whenever you need. Come join us today!
This property participates in the Section 8 Project-Based Rental Assistance program meaning the rent for many, if not all, units is based on a tenant's 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. Also, project-based Section 8 properties tend to have longer waiting lists, with some with waiting lists going out for years. This property was also financed through a HUD-insured private mortgage meaning the owner has oversight from both a private bank and HUD. This usually means Silver Village is kept in good condition. Since this property has a project-based Section 8 contract, you won't need a Section 8 voucher to live here. If you have a voucher, you may have to give it up to live here.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 605ft2 | Rent is Based On Your Income† |
| Two Bedroom (2/1) | 898ft2 | Rent is Based On Your Income† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 30% AMI for PBRA Units | $17,500 / year | $20,000 / year | $24,860 / year | $30,000 / year |
| 50% AMI for LIHTC Units | $29,200 / year | $33,350 / year | $37,500 / year | $41,650 / year |
| 50% AMI for PBRA Units | $29,200 / year | $33,350 / year | $37,500 / year | $41,650 / year |
| 80% AMI for PBRA Units | $46,700 / year | $53,350 / year | $60,000 / year | $66,650 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Silver Village have a waiting list?
Silver Village 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 Silver Village?
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 Silver Village?
Silver Village is managed by California Commercial Investment Companies headquartered in Westlake Village, California.
In addition to Silver Village, how many other affordable housing properties (and units) are there in Lubbock?
In addition to Silver Village, we list 323 other affordable properties in Lubbock. Learn about these properties here. Our data research shows that there are a total of 3386 affordable units in Lubbock.
When was the Silver Village listing last updated?
Silver Village listing on Affordable Housing Online was last updated on 04/04/2023 by Katie Garay. Remember, a property's status can change so you should contact the property to confirm.
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