About This Property
Riverside Apartments + Chennai Landing offers 65 units in Madras, Oregon, with 64 designated as low-income housing serving elderly residents. The property features a mix of unit sizes including 32 one-bedroom, 14 two-bedroom, 18 three-bedroom, and 1 four-bedroom apartments. Placed in service in 2016, the community is funded through tax-exempt bonds and utilizes 4% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Jefferson County, OR
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $741 |
| 1 Bedroom | $843 |
| 2 Bedroom | $1,093 |
| 3 Bedroom | $1,540 |
| 4 Bedroom | $1,757 |
Income Limits - Jefferson County, OR
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,550
- Very Low (50%)
- $22,550
- Low (80%)
- $36,050
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,800
- Low (80%)
- $41,200
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $29,000
- Low (80%)
- $46,350
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $32,200
- Low (80%)
- $51,500
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $34,800
- Low (80%)
- $55,650
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $37,400
- Low (80%)
- $59,750
- Extremely Low (30%)
- $39,950
- Very Low (50%)
- $39,950
- Low (80%)
- $63,900
- Extremely Low (30%)
- $42,550
- Very Low (50%)
- $42,550
- Low (80%)
- $68,000
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,550 | $22,550 | $36,050 |
| 2 Persons | $17,420 | $25,800 | $41,200 |
| 3 Persons | $21,960 | $29,000 | $46,350 |
| 4 Persons | $26,500 | $32,200 | $51,500 |
| 5 Persons | $31,040 | $34,800 | $55,650 |
| 6 Persons | $35,580 | $37,400 | $59,750 |
| 7 Persons | $39,950 | $39,950 | $63,900 |
| 8 Persons | $42,550 | $42,550 | $68,000 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Madras, OR?+
The Fair Market Rent (FMR) for Jefferson County, OR is: $741 (Studio), $843 (1BR), $1093 (2BR), $1540 (3BR), $1757 (4BR). Actual rent at subsidized properties like Riverside Apartments + Chennai Landing is typically 30% of household income or less.
What size apartments are available at Riverside Apartments + Chennai Landing?+
Riverside Apartments + Chennai Landing offers the following unit types: 32 One-Bedroom, 14 Two-Bedroom, 18 Three-Bedroom, 1 Four-Bedroom units, for a total of 65 units.
How do I apply for housing at Riverside Apartments + Chennai Landing?+
Riverside Apartments + Chennai Landing 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.
What are the income limits for affordable housing in Jefferson County, OR?+
For a 4-person household in Jefferson County, OR, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $32,200, Low Income (80% AMI): $51,500. These limits are set by HUD and updated annually.
What is the price range for apartments in Madras, OR?+
Based on Fair Market Rent for Jefferson County, the estimated price range is: 1-bedroom: $843, 2-bedroom: $1093, 3-bedroom: $1540. Actual rent at Riverside Apartments + Chennai Landing may be lower for income-eligible households.
Who is eligible to live at Riverside Apartments + Chennai Landing?+
Riverside Apartments + Chennai Landing primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Riverside Apartments + Chennai Landing?+
Riverside Apartments + Chennai Landing is managed by . You can reach them at .
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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