Low Income (LIHTC)

Oaks At Olde Towne

7 Chestnut St, Gaithersburg, MD, 20877

Information verified April 18, 2026·We re-check waiting list status daily

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About This Property

Oaks At Olde Towne comprises 72 residential units in Gaithersburg, Maryland, with 71 designated as low-income housing. The property has been in service since 2002 and operates within Montgomery County.

Property Details

Total Units

Fair Market Rent - Montgomery County, MD

FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.

Bedrooms	FMR
Studio/Efficiency	$1,772
1 Bedroom	$1,803
2 Bedroom	$2,045
3 Bedroom	$2,544
4 Bedroom	$3,015

Income Limits - Montgomery County, MD

Annual income limits by household size used to determine eligibility for affordable housing programs.

1 Person

Extremely Low (30%): $27,100
Very Low (50%): $45,150
Low (80%): $57,650

2 Persons

Extremely Low (30%): $31,000
Very Low (50%): $51,600
Low (80%): $65,850

3 Persons

Extremely Low (30%): $34,850
Very Low (50%): $58,050
Low (80%): $74,100

4 Persons

Extremely Low (30%): $38,700
Very Low (50%): $64,500
Low (80%): $82,300

5 Persons

Extremely Low (30%): $41,800
Very Low (50%): $69,700
Low (80%): $88,900

6 Persons

Extremely Low (30%): $44,900
Very Low (50%): $74,850
Low (80%): $95,500

7 Persons

Extremely Low (30%): $48,000
Very Low (50%): $80,000
Low (80%): $102,100

8 Persons

Extremely Low (30%): $51,100
Very Low (50%): $85,150
Low (80%): $108,650

Household	Extremely Low (30%)	Very Low (50%)	Low (80%)
1 Person	$27,100	$45,150	$57,650
2 Persons	$31,000	$51,600	$65,850
3 Persons	$34,850	$58,050	$74,100
4 Persons	$38,700	$64,500	$82,300
5 Persons	$41,800	$69,700	$88,900
6 Persons	$44,900	$74,850	$95,500
7 Persons	$48,000	$80,000	$102,100
8 Persons	$51,100	$85,150	$108,650

Tax Credit Program Details

Year Placed in Service

2002

Low-Income Units

71 / 72

Frequently Asked Questions

What is the average rent for affordable housing in Gaithersburg, MD?+

The Fair Market Rent (FMR) for Montgomery County, MD is: $1772 (Studio), $1803 (1BR), $2045 (2BR), $2544 (3BR), $3015 (4BR). Actual rent at subsidized properties like Oaks At Olde Towne is typically 30% of household income or less.

What are the income limits for affordable housing in Montgomery County, MD?+

For a 4-person household in Montgomery County, MD, the income limits are: Extremely Low Income (30% AMI): $38,700, Very Low Income (50% AMI): $64,500, Low Income (80% AMI): $82,300. These limits are set by HUD and updated annually.

Who manages Oaks At Olde Towne?+

Oaks At Olde Towne is managed by . You can reach them at . Visit their website for more information.

How do I apply for housing at Oaks At Olde Towne?+

Oaks At Olde Towne 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.

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