This Idaho city has a shortage of 2,000 affordable apartments. New development could help
A rare affordable apartment complex — one that would dedicate all of its units to low-income families making between $35,000 and $62,000 annually — is coming to Caldwell.
Affordable housing is needed in Caldwell, where a market study found a shortage of 2,000 affordable apartments. A Washington state developer hopes to meet some of that need with 152 apartments targeting families who make between 30% and 70% of area median income.
The Domes Church Apartments would be located near downtown Caldwell and Interstate 84, between 14th and 16th avenues. The property is owned by Assembly of God Church of Caldwell, which plans to relocate with the proceeds from the land sale, the developer said.
The developer, DevCo Residential Group, plans to use low-income-housing tax credits, which are allocated each year by the federal government to the states, to build the apartments. The Idaho Housing and Finance Association allocates Idaho’s credits through a competitive application process.
The average rent for a three-bedroom apartment in Caldwell is $1,850, said Nicolette Womack, a planner with Kimley-Horn, a planning consulting firm that represents DevCo. The Domes Church Apartments are expected to rent for 25% less than that, Womack said.
The complex will have a one-, two-, three- and four-bedroom apartments.
The average rent for a three-bedroom Domes apartment would be about $1,387 a month. A family would have to make around $55,000 annually to rent that without spending more than 30% of its income on rent.
Ben Cushman, spokesperson for the Idaho Housing and Finance Association, told the Idaho Statesman by email that it is not unheard of that for an apartment complex to be 100% affordable.
Typically developers use a method called income averaging, he said. “This allows households to qualify to live in a LIHTC (Low Income Housing Tax Credit) property if their income is no greater than 80% of AMI, if the average income limit in the property is at or below 60% of AMI,” Cushman said.
AMI is area median income, the midpoint of a city or metro area’s income distribution. It is calculated annually by the U.S. Department of Housing and Urban Development. For the Boise metropolitan area, the overall median income is $76,402, according to the Census Bureau. HUD calculates the area median income based on household size.
| % of AMI | 1 person | 2 people | 3 people | 4 people |
| 100% | $68,865 | $78,653 | $88,511 | $98,300 |
| Max rent | $1,722 | $1,966 | $2,213 | $2,458 |
| 60% | $37440 | $42,780 | $48,120 | $53,460 |
| Max rent | $936 | $1,070 | $1,203 | $1,337 |
| 30% | $18,750 | $21,400 | $24,100 | $26,750 |
| Max rent | $469 | $535 | $603 | $669 |
During a Caldwell City Council meeting on Tuesday, Feb. 24, Jay Hanz, acquisition manager for DevCo, said some tenants of the Domes Church Apartments could make up to 80% AMI.
The apartments would be in four four-story buildings. Three would include 32 apartments each, and the fourth would have 56 apartments. There would be 56 one-bedroom units, 48 two-bedrooms, 32 three-bedrooms and 16 four-bedrooms.
The Domes Church Apartments will add to a now growing list of affordable apartments in Canyon County.
Cushman said two apartment developments in Canyon County secured funding with IHFA last year with 60% AMI limits: Prospector Pointe Apartments in Caldwell and White Pines Apartments in Nampa, each with more than 260 units.
Hanz said DevCo will apply for the housing tax credits in April.
Alas, you can’t sign up for any of these affordable apartments yet.
Both developments approved last year are still early in the process, Cushman said, and it will be a while until they begin leasing.
DevCo hopes to begin construction on the Domes Church apartments in late 2025, Womack said, and to begin leasing to tenants in 2026.
