401 N 3rd St, Mabank, TX 75147
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $588 - 693 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.
Lake Ridge Apartments are an affordable community offering 1- and 2-bedroom units. Each unit comes equipped with carpeting and is cable or satellite ready.
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 Lake Ridge 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) | - | $588† |
| Two Bedroom (2/1) | - | $693† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $25,250 / year | $28,850 / year | $32,450 / year | $36,050 / year |
| 50% AMI for PBRA Units | $25,250 / year | $28,850 / year | $32,450 / year | $36,050 / year |
| 60% AMI for LIHTC Units | $30,300 / year | $34,620 / year | $38,940 / year | $43,260 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Lake Ridge Apartments have a waiting list?
Lake Ridge 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 Lake Ridge 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 Lake Ridge Apartments?
Lake Ridge Apartments is managed by Hamilton Valley Management headquartered in Burnet, Texas.
In addition to Lake Ridge Apartments, how many other affordable housing properties (and units) are there in Mabank?
In addition to Lake Ridge Apartments, we list 5 other affordable properties in Mabank. Learn about these properties here. Our data research shows that there are a total of 252 affordable units in Mabank.
When was the Lake Ridge Apartments listing last updated?
Lake Ridge Apartments listing on Affordable Housing Online was last updated on 11/22/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
209 S Grand Ave, Mabank, Texas 75147
Know your rights as a Section 8 tenant.
In many areas, private landlords with an available unit can refuse interested tenants who have a Section 8 voucher. Check your local laws.Candice Bishop says:
"I love that I can get emails from Affordable Housing Online, letting me know when there are more waiting list openings. Thank you!"