About This Property
The Reserves At Somerset Commons comprises 75 low-income rental units in Princess Anne, Maryland, serving families and disabled residents. The property, which entered service in 2016, offers a mix of one-, two-, and three-bedroom floor plans, with 36 two-bedroom units forming the majority of available options. This development is funded through 9% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Somerset 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 | $832 |
| 1 Bedroom | $837 |
| 2 Bedroom | $1,100 |
| 3 Bedroom | $1,458 |
| 4 Bedroom | $1,465 |
Income Limits - Somerset County, MD
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,150
- Very Low (50%)
- $25,200
- Low (80%)
- $40,350
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $28,800
- Low (80%)
- $46,100
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $32,400
- Low (80%)
- $51,850
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $36,000
- Low (80%)
- $57,600
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $38,900
- Low (80%)
- $62,250
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $41,800
- Low (80%)
- $66,850
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $44,650
- Low (80%)
- $71,450
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $47,550
- Low (80%)
- $76,050
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,150 | $25,200 | $40,350 |
| 2 Persons | $17,420 | $28,800 | $46,100 |
| 3 Persons | $21,960 | $32,400 | $51,850 |
| 4 Persons | $26,500 | $36,000 | $57,600 |
| 5 Persons | $31,040 | $38,900 | $62,250 |
| 6 Persons | $35,580 | $41,800 | $66,850 |
| 7 Persons | $40,120 | $44,650 | $71,450 |
| 8 Persons | $44,660 | $47,550 | $76,050 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Princess Anne, MD?+
The Fair Market Rent (FMR) for Somerset County, MD is: $832 (Studio), $837 (1BR), $1100 (2BR), $1458 (3BR), $1465 (4BR). Actual rent at subsidized properties like Reserves At Somerset Commons (The) is typically 30% of household income or less.
What size apartments are available at Reserves At Somerset Commons (The)?+
Reserves At Somerset Commons (The) offers the following unit types: 3 One-Bedroom, 36 Two-Bedroom, 3 Three-Bedroom units, for a total of 75 units.
What is the price range for apartments in Princess Anne, MD?+
Based on Fair Market Rent for Somerset County, the estimated price range is: 1-bedroom: $837, 2-bedroom: $1100, 3-bedroom: $1458. Actual rent at Reserves At Somerset Commons (The) may be lower for income-eligible households.
How do I apply for housing at Reserves At Somerset Commons (The)?+
Reserves At Somerset Commons (The) 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.
Who is eligible to live at Reserves At Somerset Commons (The)?+
Reserves At Somerset Commons (The) primarily serves families, persons with disabilities. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What are the income limits for affordable housing in Somerset County, MD?+
For a 4-person household in Somerset County, MD, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $36,000, Low Income (80% AMI): $57,600. These limits are set by HUD and updated annually.
Who manages Reserves At Somerset Commons (The)?+
Reserves At Somerset Commons (The) is managed by . You can reach them at .
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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