3200 South & 9000 West, Magna, UT 84044
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 4 Beds | 2 Baths | - |
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.
Utah Housing sponsors the CROWN program, an affordable rent-to-own housing opportunity. Located at approximately, 3200 South and 9000 West, Magna, the Wooded Mountain subdivision has seven homes currently under construction. The four bedroom, two bath homes will be available to rent to qualified households this May. For leasing information, please contact Angela at (801) 878-7370 x 4207. We are very pleased to bring more affordable housing to the Salt Lake Valley!
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 Wooded Mountain 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 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many 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 lower incomes. 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 |
|---|---|---|
| Four Bedroom (4/2) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $37,100 / year | $42,400 / year | $47,700 / year | $53,000 / year | $57,250 / year | $61,500 / year | $65,750 / year | $70,000 / year |
| 50% AMI for PBRA Units | $37,100 / year | $42,400 / year | $47,700 / year | $53,000 / year | $57,250 / year | $61,500 / year | $65,750 / year | $70,000 / year |
| 60% AMI for LIHTC Units | $44,520 / year | $50,880 / year | $57,240 / year | $63,600 / year | $68,700 / year | $73,800 / year | $78,900 / year | $84,000 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Wooded Mountain have a waiting list?
Wooded Mountain 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 Wooded Mountain?
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 Wooded Mountain, how many other affordable housing properties (and units) are there in Magna?
In addition to Wooded Mountain, we list 7 other affordable properties in Magna. Learn about these properties here. Our data research shows that there are a total of 276 affordable units in Magna.
When was the Wooded Mountain listing last updated?
Wooded Mountain listing on Affordable Housing Online was last updated on 01/01/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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