About This Property
Chapel Ridge of El Dorado Phase I comprises 64 low-income rental units in El Dorado, Arkansas, serving families with a mix of one-, two-, and three-bedroom floor plans. The property has been in service since 1999 and operates with 9% Low-Income Housing Tax Credit financing. The community offers 16 one-bedroom, 32 two-bedroom, and 16 three-bedroom units.
Property Details
Fair Market Rent - Union County, AR
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $692 |
| 1 Bedroom | $696 |
| 2 Bedroom | $864 |
| 3 Bedroom | $1,158 |
| 4 Bedroom | $1,219 |
Income Limits - Union County, AR
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $20,200
- Low (80%)
- $32,300
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $23,050
- Low (80%)
- $36,900
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $25,950
- Low (80%)
- $41,500
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $28,800
- Low (80%)
- $46,100
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $31,150
- Low (80%)
- $49,800
- Extremely Low (30%)
- $33,450
- Very Low (50%)
- $33,450
- Low (80%)
- $53,500
- Extremely Low (30%)
- $35,750
- Very Low (50%)
- $35,750
- Low (80%)
- $57,200
- Extremely Low (30%)
- $38,050
- Very Low (50%)
- $38,050
- Low (80%)
- $60,900
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $20,200 | $32,300 |
| 2 Persons | $17,420 | $23,050 | $36,900 |
| 3 Persons | $21,960 | $25,950 | $41,500 |
| 4 Persons | $26,500 | $28,800 | $46,100 |
| 5 Persons | $31,040 | $31,150 | $49,800 |
| 6 Persons | $33,450 | $33,450 | $53,500 |
| 7 Persons | $35,750 | $35,750 | $57,200 |
| 8 Persons | $38,050 | $38,050 | $60,900 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in El Dorado, AR?+
The Fair Market Rent (FMR) for Union County, AR is: $692 (Studio), $696 (1BR), $864 (2BR), $1158 (3BR), $1219 (4BR). Actual rent at subsidized properties like Chapel Ridge of El Dorado Phase I is typically 30% of household income or less.
What size apartments are available at Chapel Ridge of El Dorado Phase I?+
Chapel Ridge of El Dorado Phase I offers the following unit types: 16 One-Bedroom, 32 Two-Bedroom, 16 Three-Bedroom units, for a total of 64 units.
What are the income limits for affordable housing in Union County, AR?+
For a 4-person household in Union County, AR, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $28,800, Low Income (80% AMI): $46,100. These limits are set by HUD and updated annually.
How do I apply for housing at Chapel Ridge of El Dorado Phase I?+
Chapel Ridge of El Dorado Phase I is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , 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 El Dorado, AR?+
Based on Fair Market Rent for Union County, the estimated price range is: 1-bedroom: $696, 2-bedroom: $864, 3-bedroom: $1158. Actual rent at Chapel Ridge of El Dorado Phase I may be lower for income-eligible households.
Who manages Chapel Ridge of El Dorado Phase I?+
Chapel Ridge of El Dorado Phase I is managed by . You can reach them at .
Who is eligible to live at Chapel Ridge of El Dorado Phase I?+
Chapel Ridge of El Dorado Phase I primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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