About This Property
Chatham Woods offers 30 low-income residential units in Elkin, North Carolina, serving elderly residents. The property includes eighteen 1-bedroom and twelve 2-bedroom units and has been in service since 2003. Financing through CDBG and HOPE VI funds supports this 9% LIHTC property.
Property Details
Fair Market Rent - Surry County, NC
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $672 |
| 1 Bedroom | $677 |
| 2 Bedroom | $856 |
| 3 Bedroom | $1,045 |
| 4 Bedroom | $1,368 |
Income Limits - Surry County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,100
- Very Low (50%)
- $21,850
- Low (80%)
- $34,950
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,000
- Low (80%)
- $39,950
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $28,100
- Low (80%)
- $44,950
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $31,200
- Low (80%)
- $49,900
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $33,700
- Low (80%)
- $53,900
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $36,200
- Low (80%)
- $57,900
- Extremely Low (30%)
- $38,700
- Very Low (50%)
- $38,700
- Low (80%)
- $61,900
- Extremely Low (30%)
- $41,200
- Very Low (50%)
- $41,200
- Low (80%)
- $65,900
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,100 | $21,850 | $34,950 |
| 2 Persons | $17,420 | $25,000 | $39,950 |
| 3 Persons | $21,960 | $28,100 | $44,950 |
| 4 Persons | $26,500 | $31,200 | $49,900 |
| 5 Persons | $31,040 | $33,700 | $53,900 |
| 6 Persons | $35,580 | $36,200 | $57,900 |
| 7 Persons | $38,700 | $38,700 | $61,900 |
| 8 Persons | $41,200 | $41,200 | $65,900 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Elkin, NC?+
The Fair Market Rent (FMR) for Surry County, NC is: $672 (Studio), $677 (1BR), $856 (2BR), $1045 (3BR), $1368 (4BR). Actual rent at subsidized properties like Chatham Woods is typically 30% of household income or less.
What size apartments are available at Chatham Woods?+
Chatham Woods offers the following unit types: 18 One-Bedroom, 12 Two-Bedroom units, for a total of 30 units.
How do I apply for housing at Chatham Woods?+
Chatham Woods 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.
Who manages Chatham Woods?+
Chatham Woods is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Surry County, NC?+
For a 4-person household in Surry County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $31,200, Low Income (80% AMI): $49,900. These limits are set by HUD and updated annually.
Who is eligible to live at Chatham Woods?+
Chatham Woods 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 Elkin, NC?+
Based on Fair Market Rent for Surry County, the estimated price range is: 1-bedroom: $677, 2-bedroom: $856. Actual rent at Chatham Woods may be lower for income-eligible households.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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