Island View Apartments

7930 272nd NW, Stanwood, Washington 98292

Island View Apartments, located at 7930 272nd NW in Stanwood, has one and two bedroom apartments. Island View Apartments participates in the Low-Income Housing Tax Credit (LIHTC) and Section 521 USDA Rental Assistance programs.

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Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 644 $652
Two Bedroom (2/1) 827 $692

Island View Apartments Details

  • 32 one and two bedroom units.
  • Project-Based Rental Assistance

Property Amenities

  • Playground
  • Laundry Room
  • Rural Area

Unit Amenities

  • Window Coverings
  • Carpet
  • Yard

Nearby Amenities

  • Close to Public Transportation
  • Near Library
  • Near Park
  • Near Schools

About Island View Apartments

Island View Apartments is an affordable apartment community with top and bottom floor, one or two bedroom multi-family, non-smoking complex. We are on the local community transit bus line. Close to shopping, schools, doctors offices and parks. We have a community laundry and garden. Two play areas for the children. We are located in Stanwood, WA. For more information please call our site manager.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures 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.

Stanwood HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Stanwood but actual income limits may differ for units at Island View Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $23,250 $26,600 $29,900 $33,200 $35,900 $38,550 $41,200 $43,850
50% $38,750 $44,300 $49,850 $55,350 $59,800 $64,250 $68,650 $73,100
80% $61,800 $70,600 $79,450 $88,250 $95,350 $102,400 $109,450 $116,500

Stanwood Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Stanwood but actual income limits may differ for units at Island View Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $38,750 $44,300 $49,850 $55,350 $59,800 $64,250 $68,650 $73,100
Low Income (60%) $46,500 $53,160 $59,820 $66,420 $71,760 $77,100 $82,380 $87,720

These general income qualifications for Stanwood, Washington should only be used as a basic guide. To find out if you qualify, contact the community directly.

Island View 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 Island View 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.

Island View Apartments is managed by Ad-West Realty Services, Inc..

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