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Des Moines, Iowa · Polk County

Elmcrest Apartments

Elmcrest Apartments is a low-income housing tax credit (Section 42) property at 423 E Philip St, Des Moines, IA 50315 with 78 income-restricted apartments out of 78, placed in service in 1990. In 2026 a household of four qualifies for a 60% unit here with income up to $69,840 ($70,020 under HUD's HERA Special limits, which a property placed in service by 2008 can use), and a 60% two-bedroom can charge at most $1,576 a month in gross rent.

HUD lists it as "ELMCREST APTS".

Check whether your household income qualifies

Equal housing opportunity. Fair Housing Act protections apply, and tax credit properties can't turn down a Housing Choice voucher. Report discrimination to HUD at 1‑800‑669‑9777. LIHTC Atlas doesn't own, manage or rent these apartments.

Full fair housing notice

Tax credit properties must follow the Fair Housing Act, which bars discrimination because of race, color, religion, sex, disability, familial status or national origin, and they may not refuse an applicant because the applicant holds a Housing Choice (Section 8) voucher (IRC 42(h)(6)(B)(iv)). Properties HUD lists as senior housing may limit who lives there by age only as the Fair Housing Act's housing-for-older-persons exemption allows. To report housing discrimination, call HUD at 1‑800‑669‑9777.

LIHTC Atlas does not own, manage or rent these apartments and does not take applications. Contact each property's management for availability, rents and income rules. Listings come from HUD's database and may be out of date.

78Apartments
78Income-restricted
1990Placed in service
about 2004Compliance period ends

Property facts

Address
423 E Philip St, Des Moines, IA 50315 (map)
County
Polk County
Apartments
78
Income-restricted apartments
78
Placed in service
1990
Credits allocated
1989
Census tract (2020)
19153004501
HUD project ID
IAA19900065

Source: HUD's national LIHTC database (LIHTCPUB, revised May 28, 2026; projects placed in service through 2024), as the state allocating agency reported it. HUD lists the property as still monitored for compliance. Contact the property's management for current rents, availability and income rules.

2026 income limits and rents in Polk County

To rent an income-restricted apartment here in 2026, a household's income has to be at or under the unit's limit: $48,900 for one person or $69,840 for four at 60% of area median, $40,750 or $58,200 at 50%. HUD's FY2026 median family income for the area (Des Moines-West Des Moines, IA HUD Metro FMR Area) is $116,400.

Income limits by household size, 2026

Level1 person2 people3 people4 people
50% AMI$40,750$46,600$52,400$58,200
60% AMI$48,900$55,920$62,880$69,840

Maximum gross monthly rent by unit size, 2026

LevelStudio1 BR2 BR3 BR4 BR
50% AMI$1,018$1,091$1,310$1,513$1,688
60% AMI$1,222$1,310$1,572$1,816$2,026

Source: HUD FY2026 MTSP income limits (files dated March 27, 2026). Rents are ceilings, gross of the utility allowance for tenant-paid utilities, computed by the IRS Publication 5913 method (30% of the limit for 1 person in a studio or 1.5 people per bedroom, over 12, rounded down); the rent the property charges can be lower. A project's limits can't fall below those of earlier years (IRC 142(d)(2)(E)), so a property already in service may use higher figures. All 2026 limits for Polk County, every level from 20% to 80%.

HERA Special limits. Polk County is a HUD hold-harmless impacted area, and projects placed in service there by December 31, 2008 use HUD's higher HERA Special limits: $49,020 for one person and $70,020 for four at 60%, with a 60% two-bedroom at up to $1,576. HUD dates this property to 1990, so it can use them where they are higher.

How long the units stay affordable

15-year compliance period: 1990 to about 2004. It starts with the first year of the credit period, which is the year the building was placed in service or, if the owner elects, the next year, so it can run a year later, through 2005 (IRC 42(f)(1), 42(i)(1)). It has ended.

Extended use: HUD dates this property's allocation to 1989. Credits allocated before 1990 came without the federal extended use requirement, which began with allocations after 1989; any longer restriction would come from the state agency or other financing.

QCT and DDA status

Its 2020 census tract, 19153004501, is not a Qualified Census Tract on HUD's 2027 list. ZIP code 50315 doesn't match a 2027 Small Difficult Development Area ZCTA.

For the year it was placed in service, HUD's record puts the property not in a Qualified Census Tract, on that year's tract boundaries.

The 2027 lists (HUD, Federal Register Doc. 2026-20390) govern allocations made after 2026, such as a resyndication; the property's original basis boost depended on the lists in force when it received credits. A ZIP code and its ZCTA usually match but not always. Check an exact address with the QCT and DDA lookup.

Other tax credit properties in Des Moines

All 91 properties in Des Moines. Nearby cities: Pleasant Hill (5), Johnston (5), West Des Moines (8), Norwalk (5), Altoona (5), Grimes (6).

How tax credit apartments work

Rent in an income-restricted unit is capped by the unit's size, not set by your income, and you qualify if your household earns at or under the unit's limit, usually 50% or 60% of the area median. You can apply with a Housing Choice voucher. How to qualify, step by step.