124 County Rd N, Monroe, WI 53566
Waiting List Forecast: Likely Short or None
Verified for 2022 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 Bath | 660 - 930 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.
This 47-unit affordable housing community is expected to open its doors in Fall 2022. Monroe’s newest apartments will offer 1- & 2-bedroom floor plans to adults 55 & older. Each unit will have an open concept layout with in-unit laundry, fully equipped kitchens, a private balcony/patio and so much more! Their goal is to provide and create a community where residents feel at home and countless amenities including an on-site fitness center, Game/Craft Room, Community Room, and much more. Conveniently located behind Walmart and within minutes of Monroe Clinic Hospital, Local Restaurants, Shops & many more conveniences, Alice Place Monroe will be a great place to call home!
INCOME RESTRICTIONS
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 Alice Place Senior Living 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | 660ft2 | Call for Price† |
| 2 Bedroom (2/1) | 930ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $29,750 / year | $34,000 / year | $38,250 / year | $42,500 / year |
| 50% AMI for PBRA Units | $29,750 / year | $34,000 / year | $38,250 / year | $42,500 / year |
| 60% AMI for LIHTC Units | $35,700 / year | $40,800 / year | $45,900 / year | $51,000 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Alice Place Senior Living have a waiting list?
Alice Place Senior Living 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 Alice Place Senior Living?
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 Alice Place Senior Living?
Alice Place Senior Living is managed by Pioneer Property Management, INC headquartered in Platteville, WI.
In addition to Alice Place Senior Living, how many other affordable housing properties (and units) are there in Monroe?
In addition to Alice Place Senior Living, we list 8 other affordable properties in Monroe. Learn about these properties here. Our data research shows that there are a total of 470 affordable units in Monroe.
Always check the program's income limit.
Most federal housing programs serve renters earning 80% or less of the Area Median Income (AMI), or less.Gordon Gross says:
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