1912 Wisconsin Ave, Racine, WI 53403
Waiting List Forecast: Likely Short or None
Verified for 2020 by Gene B. Glick Marketing, Colleen Carter, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
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.
Lake Oaks Apartments is an affordable apartment community for persons 55 or older located on the Southeast side of Racine, Wisconsin right across the street from beautiful Lake Michigan. We offer pet-friendly one and two bedroom apartments. In addition to the beautiful view of Lake Michigan, you will find well-maintained apartment homes, meticulously landscaped grounds and professional on-site office and maintenance service teams. We are conveniently located on Wisconsin Avenue, across from Lake Michigan. Transportation around Racine is a breeze with stops on several Racine Transit bus routes and easy access to WI-32. Lake Oaks offers several community amenities including planned resident events, a clubhouse, convenience store, beauty/barber salon, stylish 50's Cafe, Dining Room, Media Center, and a fitness center. The apartment homes feature open kitchens with generous cabinet space and walk-in closets. Select units offer walk-in showers, washers and dryers and panoramic views of Lake Michigan. This community is owned and managed by the Gene B. Glick Company.
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 Lake Oaks 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
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $32,000 / year | $36,600 / year | $41,150 / year | $45,700 / year | $49,400 / year | $53,050 / year | $56,700 / year | $60,350 / year |
| 50% AMI for PBRA Units | $32,000 / year | $36,600 / year | $41,150 / year | $45,700 / year | $49,400 / year | $53,050 / year | $56,700 / year | $60,350 / year |
| 60% AMI for LIHTC Units | $38,400 / year | $43,920 / year | $49,380 / year | $54,840 / year | $59,280 / year | $63,660 / year | $68,040 / year | $72,420 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Lake Oaks have a waiting list?
Lake Oaks 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 Lake Oaks ?
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 Lake Oaks ?
Lake Oaks is managed by Gene B. Glick Company, Inc headquartered in Indianapolis, IN.
In addition to Lake Oaks , how many other affordable housing properties (and units) are there in Racine?
In addition to Lake Oaks , we list 63 other affordable properties in Racine. Learn about these properties here. Our data research shows that there are a total of 2386 affordable units in Racine.
500 Shelbourne Ct, Racine, Wisconsin 53402
815 8th Street, Racine, Wisconsin 53403
424 Lake Ave., Racine, Wisconsin 53403
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.Rufus W. Bailey says:
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