About This Property
Cottages At Riverhouse Phase IV comprises 36 low-income units in Wicomico County, Maryland, serving elderly residents. The property includes 28 one-bedroom and 8 two-bedroom apartments and has been in service since 2016. Financing for the development utilized tax-exempt bonds and 4% low-income housing tax credits.
Property Details
Fair Market Rent - Wicomico 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 | $991 |
| 1 Bedroom | $998 |
| 2 Bedroom | $1,311 |
| 3 Bedroom | $1,739 |
| 4 Bedroom | $1,746 |
Income Limits - Wicomico 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 Wicomico, MD?+
The Fair Market Rent (FMR) for Wicomico County, MD is: $991 (Studio), $998 (1BR), $1311 (2BR), $1739 (3BR), $1746 (4BR). Actual rent at subsidized properties like Cottages At Riverhouse Phase Iv is typically 30% of household income or less.
What size apartments are available at Cottages At Riverhouse Phase Iv?+
Cottages At Riverhouse Phase Iv offers the following unit types: 28 One-Bedroom, 8 Two-Bedroom units, for a total of 36 units.
What are the income limits for affordable housing in Wicomico County, MD?+
For a 4-person household in Wicomico 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 is eligible to live at Cottages At Riverhouse Phase Iv?+
Cottages At Riverhouse Phase Iv primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in Wicomico, MD?+
Based on Fair Market Rent for Wicomico County, the estimated price range is: 1-bedroom: $998, 2-bedroom: $1311. Actual rent at Cottages At Riverhouse Phase Iv may be lower for income-eligible households.
How do I apply for housing at Cottages At Riverhouse Phase Iv?+
Cottages At Riverhouse Phase Iv 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 manages Cottages At Riverhouse Phase Iv?+
Cottages At Riverhouse Phase Iv is managed by . You can reach them at .
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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