About This Property
Phelps Road Place offers 22 low-income housing units in Madison Heights, Virginia and has been in service since 2014. The property serves disabled residents and is financed through 9% Low-Income Housing Tax Credits. A non-profit organization owns and manages the community.
Property Details
Fair Market Rent - Amherst County, VA
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $948 |
| 1 Bedroom | $966 |
| 2 Bedroom | $1,093 |
| 3 Bedroom | $1,494 |
| 4 Bedroom | $1,627 |
Income Limits - Amherst County, VA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,500
- Very Low (50%)
- $25,800
- Low (80%)
- $41,300
- Extremely Low (30%)
- $17,700
- Very Low (50%)
- $29,500
- Low (80%)
- $47,200
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $33,200
- Low (80%)
- $53,100
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $36,850
- Low (80%)
- $58,950
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $39,800
- Low (80%)
- $63,700
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $42,750
- Low (80%)
- $68,400
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $45,700
- Low (80%)
- $73,100
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $48,650
- Low (80%)
- $77,850
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,500 | $25,800 | $41,300 |
| 2 Persons | $17,700 | $29,500 | $47,200 |
| 3 Persons | $21,960 | $33,200 | $53,100 |
| 4 Persons | $26,500 | $36,850 | $58,950 |
| 5 Persons | $31,040 | $39,800 | $63,700 |
| 6 Persons | $35,580 | $42,750 | $68,400 |
| 7 Persons | $40,120 | $45,700 | $73,100 |
| 8 Persons | $44,660 | $48,650 | $77,850 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Madison Heights, VA?+
The Fair Market Rent (FMR) for Amherst County, VA is: $948 (Studio), $966 (1BR), $1093 (2BR), $1494 (3BR), $1627 (4BR). Actual rent at subsidized properties like Phelps Road Place is typically 30% of household income or less.
What are the income limits for affordable housing in Amherst County, VA?+
For a 4-person household in Amherst County, VA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $36,850, Low Income (80% AMI): $58,950. These limits are set by HUD and updated annually.
Who is eligible to live at Phelps Road Place?+
Phelps Road Place primarily serves persons with disabilities. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
How do I apply for housing at Phelps Road Place?+
Phelps Road Place 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.
Who manages Phelps Road Place?+
Phelps Road Place is managed by . You can reach them at .
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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