4870 55th Ln SE, Lacey, WA 98503
Waiting List Forecast: Likely Short or None
Verified for 2022 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $828 - 1,479 per Month† | 2 - 3 Beds | 1 - 2 Baths | 909 - 1,038 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.
College Glen Apartments for rent in Lacey, Washington sets the standard in affordable living with many features that are sure to meet your needs. Their 2 and 3 bedroom floorplans feature walk-in closets, ample counter space, large convenient pantries, and available washer/dryer rental. Recreation options abound at College Glen, where you can challenge your friends to a game of basketball or volleyball on their indoor sport court, enjoy their playground and abundant grassy areas, and get to know your neighbors at one of their community events. You can also stretch your legs at the nearby Chehalis walking and biking trail or the new Rainier Vista Park. They are conveniently located in SE Lacey next to the Safeway shopping center, Lacey Crossroads, and Starbucks. They are in the North Thurston School district, close to Joint Base Lewis McChord and the Capitol City Golf Course. Come home to College Glen Apartments where service is their specialty!
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 College Glen 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 |
|---|---|---|
| Two Bedroom (2/1) | 909ft2 | $828 $1,282† |
| Three Bedroom (3/2) | 1038ft2 | $954 $1,479† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $35,900 / year | $41,000 / year | $46,150 / year | $51,250 / year | $55,350 / year | $59,450 / year |
| 50% AMI for PBRA Units | $35,900 / year | $41,000 / year | $46,150 / year | $51,250 / year | $55,350 / year | $59,450 / year |
| 60% AMI for LIHTC Units | $43,080 / year | $49,200 / year | $55,380 / year | $61,500 / year | $66,420 / year | $71,340 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does College Glen Apartments have a waiting list?
College Glen 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 College Glen 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 College Glen Apartments?
College Glen Apartments is managed by Cirrus Asset Management Inc. headquartered in Woodland Hills, California.
In addition to College Glen Apartments, how many other affordable housing properties (and units) are there in Lacey?
In addition to College Glen Apartments, we list 6 other affordable properties in Lacey. Learn about these properties here. Our data research shows that there are a total of 762 affordable units in Lacey.
When was the College Glen Apartments listing last updated?
College Glen Apartments listing on Affordable Housing Online was last updated on 10/12/2022 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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.Rufus W. Bailey says:
"Affordable Housing Online is very effective and useful, and helpful."