42225 Glascock Field Dr, Sterling, VA 20166
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Lorena Bentley, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $1,185 - 1,655 per Month† | 1 - 3 Beds | 1 - 2 Baths | 744 - 1,236 Sq Ft |
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.
Welcome to Stone Springs
Located off Gateway Village Place & Stone Springs Boulevard in Sterling, VA, these apartments are not only accessible to multiple dining and retail options but are also minutes away from Stone Springs Hospital Center and Dulles International Airport. The stunning 1, 2, and 3 bedroom apartment homes come loaded with all the must-haves. Fully furnished kitchens with black appliances, beautiful countertops, and cherry cabinets will be the place of family dinners and midnight snacks. These apartment homes feature washer and dryer connections, generous walk-in closets making it easy to store and organize, refreshing bathrooms, and private patios.
When you want to relax at the end of a long day, gather with neighbors at the grilling area near the community playground or burn calories in the 24-hour fitness center. The clubhouse offers a business center and a cozy meeting room area with café where you can shop online or work remotely while getting laundry done.
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 Stone Springs 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. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bed One Bath (1/1) | 744ft2 | $1,185 $1,190† |
| Two Bedroom Two Bath (2/2) | 1040ft2 | $1,425 $1,435† |
| Three Bedroom Two Bath (3/2) | 1236ft2 | $1,655† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $52,750 / year | $60,300 / year | $67,850 / year | $75,350 / year | $81,400 / year | $87,450 / year |
| 50% AMI for PBRA Units | $52,750 / year | $60,300 / year | $67,850 / year | $75,350 / year | $81,400 / year | $87,450 / year |
| 60% AMI for LIHTC Units | $63,300 / year | $72,360 / year | $81,420 / year | $90,420 / year | $97,680 / year | $104,940 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Stone Springs Apartments have a waiting list?
Stone Springs 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 Stone Springs 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 Stone Springs Apartments?
Stone Springs Apartments is managed by GEM Management, LLC headquartered in Charlotte, North Carolina.
In addition to Stone Springs Apartments, how many other affordable housing properties (and units) are there in Sterling?
In addition to Stone Springs Apartments, we list 5 other affordable properties in Sterling. Learn about these properties here. Our data research shows that there are a total of 887 affordable units in Sterling.
When was the Stone Springs Apartments listing last updated?
Stone Springs Apartments 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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