Lincoln Way I Apartments

2721 Lincoln Way, Lynnwood, WA 98087

Waiting List Forecast: Likely Short or None

check_circleVerified for 2023 by Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	1 - 3 Beds	1 Bath	-

Call (425) 741-1296

Waitlist Forecast

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.

Located in Lynnwood, just one block off Highway 99, Lincoln Way I consists of 50 affordable apartment homes rented to qualified applicants earning 30 and 50 percent of the median income. This warm community is conveniently located near local bus lines, and within walking distance to multiple shopping centers.

Lincoln Way offers a mix of spacious, one, two and three bedroom units. Water, Sewer and Garbage are included in the rent.

The property was awarded 1st place in the MetLife Foundation Awards for Excellence in Affordable Housing. The awards program recognizes community-based and regional nonprofit organizations that excel in property and asset management or provide housing to people with special needs

Dave's Thoughts On Lincoln Way I Apartments

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 Lincoln Way I 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. 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

Lincoln Way I Apartments Amenities

Playground
Computer Lab
Community Room
Sports Courts
Laundry Facilities

Units at Lincoln Way I Apartments

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	Rent is Based On Your Income^†
2 Bedroom (2/1)	-	Rent is Based On Your Income^†
3 Bedroom (3/1)	-	Rent is Based On Your Income^†

Income Qualification for Lincoln Way I Apartments

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people
30% AMI for PBRA Units	$28,800 / year	$32,900 / year	$37,000 / year	$41,100 / year	$44,400 / year	$47,700 / year
50% AMI for LIHTC Units	$47,950 / year	$54,800 / year	$61,650 / year	$68,500 / year	$74,000 / year	$79,500 / year
50% AMI for PBRA Units	$47,950 / year	$54,800 / year	$61,650 / year	$68,500 / year	$74,000 / year	$79,500 / year
60% AMI for LIHTC Units	$57,540 / year	$65,760 / year	$73,980 / year	$82,200 / year	$88,800 / year	$95,400 / year
80% AMI for PBRA Units	$70,650 / year	$80,750 / year	$90,850 / year	$100,900 / year	$109,000 / year	$117,050 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Lincoln Way I Apartments

Does Lincoln Way I Apartments have a waiting list?

Lincoln Way I 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 Lincoln Way I 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 Lincoln Way I Apartments?

Lincoln Way I Apartments is managed by Mercy Housing headquartered in Denver, Colorado.

In addition to Lincoln Way I Apartments, how many other affordable housing properties (and units) are there in Lynnwood?

In addition to Lincoln Way I Apartments, we list 86 other affordable properties in Lynnwood. Learn about these properties here. Our data research shows that there are a total of 3256 affordable units in Lynnwood.

When was the Lincoln Way I Apartments listing last updated?

Lincoln Way I Apartments listing on Affordable Housing Online was last updated on 01/02/2023 by Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.