North Valley I Apartments

572 N. Pine St., Omak, Washington 98841

North Valley I Apartments, located at 572 N. Pine St. in Omak, has one, two and three bedroom apartments. North Valley I Apartments participates in the Section 42 Low-Income Housing Tax Credit (LIHTC), Section 515 Rural Rental Housing and Section 521 USDA Rental Assistance programs.

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Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) - $479
Two Bedroom (2/1) - $519
Three Bedroom (3/1) - $558

North Valley I Apartments Details

  • 24 one, two and three bedroom units.
  • Project-Based Rental Assistance

Property Amenities

  • Playground
  • Laundry Room

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Carpet

About North Valley I Apartments

North Valley I Apartments is an affordable apartment community for individuals and families is located in historic Omak, Washington. We offer amenities such as air conditioning, a nice play area, park-like setting with lots of trees, plus much more. For more information, please call our site manager.

Section 42 Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, monthly rent cannot exceed the Tax Credit maximum rent for the area. Households earning less than 60% of the area median income qualify for units with reduced rent. Some rental units in this property may not be subject to LIHTC and therefore may be set at levels higher than the area's LIHTC limits.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 515 properties, insures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.

Omak HUD Rental Assistance Income Qualifications

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $13,650 $16,460 $20,780 $25,100 $29,420 $33,740 $38,060 $42,380
50% $22,750 $26,000 $29,250 $32,500 $35,100 $37,700 $40,300 $42,900
80% $36,400 $41,600 $46,800 $52,000 $56,200 $60,350 $64,500 $68,650

Omak Low Income Housing Tax Credit Income Qualifications

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% $22,750 $26,000 $29,250 $32,500 $35,100 $37,700 $40,300 $42,900
60% $27,300 $31,200 $35,100 $39,000 $42,120 $45,240 $48,360 $51,480

North Valley I Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and receives rental subsidies through HUD-Assisted Housing. These programs have different income limits that can lead to apartments in the same property having different income requirements.

You can make up to 80% of the Area Median Income (AMI) and be eligible for a HUD-Assisted Housing unit. However, you can earn at most 60% of AMI to be eligible for a LIHTC property and many units may be set aside for those with the lowest incomes (down to 15% of AMI). LIHTC properties may also contain some market rate units.

Since North Valley I Apartments has both programs, the most restrictive of the income limits will apply for each unit. If the entire property is funded by LIHTC, the LIHTC income limit of 60% AMI would be used for all units. Apartments in properties with some units not funded by the LIHTC, but receiving Section 8 assistance, would be open to households making up to 80% AMI. Market rate units would have no subsidies or income restrictions.

Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

North Valley I Apartments is managed by Ad-West Realty Services, Inc..

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