Lincoln Way I
About Lincoln Way I
Located in Lynnwood, just one block off Highway 99, Lincoln Way I consists of 50 affordable apartment homes rented to qualified applicants earning 30 and 50 percent of the median income. This warm community is conveniently located near local bus lines, and within walking distance to multiple shopping centers.
Lincoln Way offers a mix of spacious, one, two and three bedroom units. Water, Sewer and Garbage are included in the rent.
The property was awarded 1st place in the MetLife Foundation Awards for Excellence in Affordable Housing. The awards program recognizes community-based and regional nonprofit organizations that excel in property and asset management or provide housing to people with special needs.
Amenities and Services
- Resident services
- After school programs
- Internet connection
- 2 playground areas
- Sport court
- Community center
- Computer lab
- Job training
- On-site laundry facilities
- Select units have washer/dryer hook ups
- Rents are based on % AMI
- Award of Low Income Housing Tax Credits and loans from the State Housing Trust Fund
- Financing: Bank of America FSB, Federal Home Loan Bank and Sound Families Program and Mercy Housing, Inc.
Is this property currently leasing units?
Yes, there is 1 unit available at this property.
How many units are move-in ready in the next 2 months?
This property has 1 unit available for move-in on November 01,
What's the square footage of the available units?
It's square feet.
Does this property allow cats or dogs?
The property manager did not submit a pet policy with this listing.
How many bedrooms are in the available units?
There are 2 bedroom units available.
How many bathrooms are in the available units?
There are 1 bathroom units available.
What's the monthly rent at this property?
Lincoln Way has a 2 bedroom unit starting at $
Where is this property located?
This property is at Lincoln Way in Ames, IA. It's miles southwest from the center of Ames.
Lincoln Way Rent vs. Ames Average
Lincoln Way is asking 29% less than the average 2 bedroom apartment in Ames.
If you upsized to an average priced Ames 3 bedroom apartment, you would pay 18% more per month.
If you downsized to an average priced Ames 1 bedroom apartment, you would pay 11% less per month.
Lincoln Way provides 1% less square footage than the average Ames 2 bedroom apartment.
Availability in Ames
In order to find the best deal, you need to know what types of units are available. Property managers may be willing to give concessions if they have many vacant units.
There are currently 95 2BR units on the market in Ames. If you're looking to negotiate, this may be your best option.
To comfortably afford an apartment, we recommend having at least three times your monthy rent in gross household income.
View suggested annual incomes for Lincoln Way by bedroom type below.
Trash Removal Included
(RLNE) Very nice sf, 2 BR 1 1/2 bath apartment in Morningside - Very nice sf, 2 BR 1 1/2 bath apartment in Morningside close to Southern Hills Mall, Lakeport Commons, grocery stores, restaurants, etc. Stove, refrigerator, microwave & dishwasher included. Coin operated washer & dryer in the building. Rent includes water, sewer & trash. Garage included. No pets. $/month + $ deposit. For more information or to set up an appointment to view the apartment, call Salem Management at To fill out an application, go to www. salemrealestate.biz & click on Find Properties ($30 application fee).
No Pets Allowed
Account Type: Other
Total Unit Count: 49
Last Updated: 2 months ago
MERCY MEDICAL CENTER SIOUX CITY Hospital miles
ST. LUKES'S REGIONAL MEDICAL CENTER Hospital miles
DUNES SURGICAL HOSPITAL Hospital miles
Lincoln Way I Apartments
|1 Bedroom (1/1)||-||Income Based|
|2 Bedroom (2/1)||-||Income Based|
|3 Bedroom (3/1)||-||Income Based|
Lincoln Way I Apartments Details
- 50 one, two and three bedroom units.
- Water and Sewer utilities included in rent
- Low-Income Housing Tax Credit (LIHTC)
- HOME Investment Partnerships Program
- Computer Lab
- Community Room
- Sports Courts
- Laundry Facilities
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.
HOME Investment Partnerships Program
This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.
Lynnwood 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 Lynnwood but actual income limits may differ for units at Lincoln Way I Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$40,||$46,||$52,||$57,||$62,||$67,||$71,||$76,|
|Low Income (60%)||$48,||$55,||$62,||$69,||$75,||$80,||$86,||$91,|
Lincoln Way I Apartments is managed by Mercy Housing.
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