About This Property
Chestnut Apt is a 24-unit affordable housing community in Monterey, Tennessee, offering low-income housing opportunities in Putnam County. All units are two-bedroom floor plans financed through 4% Low-Income Housing Tax Credits. The property has served residents since 1987 and operates under non-profit ownership.
Property Details
Fair Market Rent - Putnam County, TN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $760 |
| 1 Bedroom | $764 |
| 2 Bedroom | $991 |
| 3 Bedroom | $1,368 |
| 4 Bedroom | $1,578 |
Income Limits - Putnam County, TN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $20,800
- Low (80%)
- $33,250
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $23,750
- Low (80%)
- $38,000
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $26,700
- Low (80%)
- $42,750
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $29,650
- Low (80%)
- $47,450
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $32,050
- Low (80%)
- $51,250
- Extremely Low (30%)
- $34,400
- Very Low (50%)
- $34,400
- Low (80%)
- $55,050
- Extremely Low (30%)
- $36,800
- Very Low (50%)
- $36,800
- Low (80%)
- $58,850
- Extremely Low (30%)
- $39,150
- Very Low (50%)
- $39,150
- Low (80%)
- $62,650
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $20,800 | $33,250 |
| 2 Persons | $17,420 | $23,750 | $38,000 |
| 3 Persons | $21,960 | $26,700 | $42,750 |
| 4 Persons | $26,500 | $29,650 | $47,450 |
| 5 Persons | $31,040 | $32,050 | $51,250 |
| 6 Persons | $34,400 | $34,400 | $55,050 |
| 7 Persons | $36,800 | $36,800 | $58,850 |
| 8 Persons | $39,150 | $39,150 | $62,650 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Monterey, TN?+
The Fair Market Rent (FMR) for Putnam County, TN is: $760 (Studio), $764 (1BR), $991 (2BR), $1368 (3BR), $1578 (4BR). Actual rent at subsidized properties like Chestnut Apt is typically 30% of household income or less.
What size apartments are available at Chestnut Apt?+
Chestnut Apt offers the following unit types: 24 Two-Bedroom units, for a total of 24 units.
How do I apply for housing at Chestnut Apt?+
Chestnut Apt 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.
What are the income limits for affordable housing in Putnam County, TN?+
For a 4-person household in Putnam County, TN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $29,650, Low Income (80% AMI): $47,450. These limits are set by HUD and updated annually.
What is the price range for apartments in Monterey, TN?+
Based on Fair Market Rent for Putnam County, the estimated price range is: 2-bedroom: $991. Actual rent at Chestnut Apt may be lower for income-eligible households.
Who manages Chestnut Apt?+
Chestnut Apt is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
