About This Property
Grand Way Commons II contains 28 one-bedroom apartments in South Burlington, Vermont, serving elderly residents with low incomes. The property, which opened in 2010, is owned and operated by a non-profit organization and receives funding through HOME, TCAP, CDBG, and tax-exempt bonds. All 28 units are designated as affordable housing under the Low-Income Housing Tax Credit program.
Property Details
Fair Market Rent - Chittenden County, VT
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $1,341 |
| 1 Bedroom | $1,441 |
| 2 Bedroom | $1,887 |
| 3 Bedroom | $2,390 |
| 4 Bedroom | $2,513 |
Income Limits - Chittenden County, VT
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $20,150
- Very Low (50%)
- $33,600
- Low (80%)
- $53,700
- Extremely Low (30%)
- $23,000
- Very Low (50%)
- $38,400
- Low (80%)
- $61,400
- Extremely Low (30%)
- $25,900
- Very Low (50%)
- $43,200
- Low (80%)
- $69,050
- Extremely Low (30%)
- $28,750
- Very Low (50%)
- $47,950
- Low (80%)
- $76,700
- Extremely Low (30%)
- $31,050
- Very Low (50%)
- $51,800
- Low (80%)
- $82,850
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $55,650
- Low (80%)
- $89,000
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $59,500
- Low (80%)
- $95,150
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $63,300
- Low (80%)
- $101,250
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $20,150 | $33,600 | $53,700 |
| 2 Persons | $23,000 | $38,400 | $61,400 |
| 3 Persons | $25,900 | $43,200 | $69,050 |
| 4 Persons | $28,750 | $47,950 | $76,700 |
| 5 Persons | $31,050 | $51,800 | $82,850 |
| 6 Persons | $35,580 | $55,650 | $89,000 |
| 7 Persons | $40,120 | $59,500 | $95,150 |
| 8 Persons | $44,660 | $63,300 | $101,250 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in South Burlington, VT?+
The Fair Market Rent (FMR) for Chittenden County, VT is: $1341 (Studio), $1441 (1BR), $1887 (2BR), $2390 (3BR), $2513 (4BR). Actual rent at subsidized properties like Grand Way Commons Ii is typically 30% of household income or less.
What size apartments are available at Grand Way Commons Ii?+
Grand Way Commons Ii offers the following unit types: 28 One-Bedroom units, for a total of 28 units.
Who manages Grand Way Commons Ii?+
Grand Way Commons Ii is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Grand Way Commons Ii?+
Grand Way Commons Ii 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 South Burlington, VT?+
Based on Fair Market Rent for Chittenden County, the estimated price range is: 1-bedroom: $1441. Actual rent at Grand Way Commons Ii may be lower for income-eligible households.
How do I apply for housing at Grand Way Commons Ii?+
Grand Way Commons Ii 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 Chittenden County, VT?+
For a 4-person household in Chittenden County, VT, the income limits are: Extremely Low Income (30% AMI): $28,750, Very Low Income (50% AMI): $47,950, Low Income (80% AMI): $76,700. These limits are set by HUD and updated annually.
Contact Information
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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