About This Property
Madison Woods is an affordable housing community in Madison, OH featuring 40 low-income residential units. The property has been in service since 1989 and continues to serve households in Lake County.
Property Details
Fair Market Rent - Lake County, OH
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $811 |
| 1 Bedroom | $913 |
| 2 Bedroom | $1,108 |
| 3 Bedroom | $1,434 |
| 4 Bedroom | $1,527 |
Income Limits - Lake County, OH
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,550
- Very Low (50%)
- $27,550
- Low (80%)
- $44,050
- Extremely Low (30%)
- $18,900
- Very Low (50%)
- $31,450
- Low (80%)
- $50,350
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $35,400
- Low (80%)
- $56,650
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $39,300
- Low (80%)
- $62,900
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $42,450
- Low (80%)
- $67,950
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $45,600
- Low (80%)
- $73,000
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $48,750
- Low (80%)
- $78,000
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $51,900
- Low (80%)
- $83,050
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,550 | $27,550 | $44,050 |
| 2 Persons | $18,900 | $31,450 | $50,350 |
| 3 Persons | $21,960 | $35,400 | $56,650 |
| 4 Persons | $26,500 | $39,300 | $62,900 |
| 5 Persons | $31,040 | $42,450 | $67,950 |
| 6 Persons | $35,580 | $45,600 | $73,000 |
| 7 Persons | $40,120 | $48,750 | $78,000 |
| 8 Persons | $44,660 | $51,900 | $83,050 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Madison, OH?+
The Fair Market Rent (FMR) for Lake County, OH is: $811 (Studio), $913 (1BR), $1108 (2BR), $1434 (3BR), $1527 (4BR). Actual rent at subsidized properties like Madison Woods is typically 30% of household income or less.
What are the income limits for affordable housing in Lake County, OH?+
For a 4-person household in Lake County, OH, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $39,300, Low Income (80% AMI): $62,900. These limits are set by HUD and updated annually.
How do I apply for housing at Madison Woods?+
Madison 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 Madison Woods?+
Madison Woods is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
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