About This Property
Drakes Branch Elderly consists of 32 one-bedroom units designated for low-income elderly residents in Charlotte County. The property has been in service since 1997 and is financed through a 9% Low-Income Housing Tax Credit. All 32 units provide affordable housing options for seniors in the Drakes Branch area.
Property Details
Fair Market Rent - Charlotte 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 | $684 |
| 1 Bedroom | $689 |
| 2 Bedroom | $905 |
| 3 Bedroom | $1,128 |
| 4 Bedroom | $1,388 |
Income Limits - Charlotte County, VA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $20,900
- Low (80%)
- $33,450
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $23,900
- Low (80%)
- $38,200
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $26,900
- Low (80%)
- $43,000
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $29,850
- Low (80%)
- $47,750
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $32,250
- Low (80%)
- $51,600
- Extremely Low (30%)
- $34,650
- Very Low (50%)
- $34,650
- Low (80%)
- $55,400
- Extremely Low (30%)
- $37,050
- Very Low (50%)
- $37,050
- Low (80%)
- $59,250
- Extremely Low (30%)
- $39,450
- Very Low (50%)
- $39,450
- Low (80%)
- $63,050
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $20,900 | $33,450 |
| 2 Persons | $17,420 | $23,900 | $38,200 |
| 3 Persons | $21,960 | $26,900 | $43,000 |
| 4 Persons | $26,500 | $29,850 | $47,750 |
| 5 Persons | $31,040 | $32,250 | $51,600 |
| 6 Persons | $34,650 | $34,650 | $55,400 |
| 7 Persons | $37,050 | $37,050 | $59,250 |
| 8 Persons | $39,450 | $39,450 | $63,050 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Drakes Branch, VA?+
The Fair Market Rent (FMR) for Charlotte County, VA is: $684 (Studio), $689 (1BR), $905 (2BR), $1128 (3BR), $1388 (4BR). Actual rent at subsidized properties like Drakes Branch Elderly is typically 30% of household income or less.
What size apartments are available at Drakes Branch Elderly?+
Drakes Branch Elderly offers the following unit types: 32 One-Bedroom units, for a total of 32 units.
Who is eligible to live at Drakes Branch Elderly?+
Drakes Branch Elderly primarily serves elderly residents. 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 Drakes Branch Elderly?+
Drakes Branch Elderly 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 Charlotte County, VA?+
For a 4-person household in Charlotte County, VA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $29,850, Low Income (80% AMI): $47,750. These limits are set by HUD and updated annually.
Who manages Drakes Branch Elderly?+
Drakes Branch Elderly is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Drakes Branch, VA?+
Based on Fair Market Rent for Charlotte County, the estimated price range is: 1-bedroom: $689. Actual rent at Drakes Branch Elderly may be lower for income-eligible households.
Walk Score
Almost All Errands Require a Car