About This Property
Villa Esperanza Apartments comprises 23 low-income units in Federal Way, Washington, serving families, individuals with disabilities, and formerly homeless residents. The property contains eight 2-bedroom and fifteen 3-bedroom units and has been in service since 2007. Villa Esperanza is owned by a non-profit organization and financed through 9% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - King County, WA
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $2,211 |
| 1 Bedroom | $2,269 |
| 2 Bedroom | $2,645 |
| 3 Bedroom | $3,510 |
| 4 Bedroom | $4,080 |
Income Limits - King County, WA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $24,300
- Very Low (50%)
- $40,500
- Low (80%)
- $63,350
- Extremely Low (30%)
- $27,800
- Very Low (50%)
- $46,300
- Low (80%)
- $72,400
- Extremely Low (30%)
- $31,250
- Very Low (50%)
- $52,100
- Low (80%)
- $81,450
- Extremely Low (30%)
- $34,700
- Very Low (50%)
- $57,850
- Low (80%)
- $90,500
- Extremely Low (30%)
- $37,500
- Very Low (50%)
- $62,500
- Low (80%)
- $97,750
- Extremely Low (30%)
- $40,300
- Very Low (50%)
- $67,150
- Low (80%)
- $105,000
- Extremely Low (30%)
- $43,050
- Very Low (50%)
- $71,750
- Low (80%)
- $112,250
- Extremely Low (30%)
- $45,850
- Very Low (50%)
- $76,400
- Low (80%)
- $119,500
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $24,300 | $40,500 | $63,350 |
| 2 Persons | $27,800 | $46,300 | $72,400 |
| 3 Persons | $31,250 | $52,100 | $81,450 |
| 4 Persons | $34,700 | $57,850 | $90,500 |
| 5 Persons | $37,500 | $62,500 | $97,750 |
| 6 Persons | $40,300 | $67,150 | $105,000 |
| 7 Persons | $43,050 | $71,750 | $112,250 |
| 8 Persons | $45,850 | $76,400 | $119,500 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Federal Way, WA?+
The Fair Market Rent (FMR) for King County, WA is: $2211 (Studio), $2269 (1BR), $2645 (2BR), $3510 (3BR), $4080 (4BR). Actual rent at subsidized properties like Villa Esperanza Apartments is typically 30% of household income or less.
What size apartments are available at Villa Esperanza Apartments?+
Villa Esperanza Apartments offers the following unit types: 8 Two-Bedroom, 15 Three-Bedroom units, for a total of 23 units.
What are the income limits for affordable housing in King County, WA?+
For a 4-person household in King County, WA, the income limits are: Extremely Low Income (30% AMI): $34,700, Very Low Income (50% AMI): $57,850, Low Income (80% AMI): $90,500. These limits are set by HUD and updated annually.
Who is eligible to live at Villa Esperanza Apartments?+
Villa Esperanza Apartments primarily serves families, persons with disabilities, formerly homeless individuals, Transitional. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Villa Esperanza Apartments?+
Villa Esperanza Apartments is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Villa Esperanza Apartments?+
Villa Esperanza Apartments is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What is the price range for apartments in Federal Way, WA?+
Based on Fair Market Rent for King County, the estimated price range is: 2-bedroom: $2645, 3-bedroom: $3510. Actual rent at Villa Esperanza Apartments may be lower for income-eligible households.
Contact Information
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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