Apartment complex with LIHTC thing question, thanks

Submitted by Equivalent_Alps_8321 t3_1072ez1 in Pennsylvania

Hey guys looking to move from my current apartment (room in a house actually). Owner is ill and we can't really live here anymore. Tenants have to leave soon. Nice man but his health has gotten too bad for people to live here. Saw an apartment complex north of the city (Pittsburgh) that says it's LIHTC. At least part of it is. Says their prices go from $780 to $1200.

Can someone explain what that is and how it works? What's the process? Currently between jobs. Have plenty of money saved up though. Credit score is decent. Good landlord references etc.

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Brilliant-Jacket-550 t1_j3kk8y5 wrote

I don’t know anything about that; but if you’re unemployed you may qualify for rental assistance from your county- pretty sure they’re still Covid funds. I’m going through the application process right now.

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CharacterBrief9121 t1_j3mr6hk wrote

More of the larger pop counties are out of these funds but in case you need to find out they’re usually labeled as ERA2 funds now.

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Brilliant-Jacket-550 t1_j3o3uv5 wrote

Thanks, I’ve been assured that Montco still has funds. They’d better not be lying to me.

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Equivalent_Alps_8321 OP t1_j3oxk77 wrote

Allegheny County?

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CharacterBrief9121 t1_j3oz98y wrote

I already tried to help someone from there and they told me Allegheny County wasn’t taking new ERAP applications as of March 2022 due to funds running out. I would double check that, maybe there is new funds or that guy was wrong.

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Equivalent_Alps_8321 OP t1_j3oxmmu wrote

Allegheny County? Where do I start the process?

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Brilliant-Jacket-550 t1_j3p10yz wrote

Check in with your County human services or Assistance office. Montgomery County has a navicate that you can call and tell them whatever problem you’re having and they’ll get you to the right resources. Maybe see if Allegheny has something like that.

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worstatit t1_j3lmorg wrote

Not aware of this program but most require asset limits as well as income limits...

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tunuvfun t1_j5sh58y wrote

LIHTCs have a sliding scale payment structure. In theory, they're the most democratic kind of public housing that can exist. You can be a movie star and rent an apartment at a LIHTC but pay full rent because you earn so much. You can also be the poorest of the poor and have your rent subsidized to the max (30% of your income). Everyone has the same kind of apartment and the same amenities, modest though they may be.

I'm answering from Pennsylvania and am appalled at the heartless downvoting of your extremely decent and intelligent question. This is the kind of behavior that makes me hate this platform.

For what it's worth, I would call the Pennsylvania Housing Finance Agency and ask to speak with a counselor. They will put you in the right direction (phfa.org/renters).

BEST OF LUCK!

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