About This Property
Market Square II offers 42 low-income housing units in North Chesterfield, Virginia, designed to serve elderly residents. The property includes 35 one-bedroom and 7 two-bedroom apartments and has been in service since 2005. This non-profit owned community is funded through the 9% Low-Income Housing Tax Credit program.
Property Details
Fair Market Rent - Chesterfield 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 | $1,328 |
| 1 Bedroom | $1,365 |
| 2 Bedroom | $1,532 |
| 3 Bedroom | $1,959 |
| 4 Bedroom | $2,393 |
Income Limits - Chesterfield County, VA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $18,900
- Very Low (50%)
- $31,500
- Low (80%)
- $50,400
- Extremely Low (30%)
- $21,600
- Very Low (50%)
- $36,000
- Low (80%)
- $57,600
- Extremely Low (30%)
- $24,300
- Very Low (50%)
- $40,500
- Low (80%)
- $64,800
- Extremely Low (30%)
- $27,000
- Very Low (50%)
- $45,000
- Low (80%)
- $72,000
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $48,600
- Low (80%)
- $77,800
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $52,200
- Low (80%)
- $83,550
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $55,800
- Low (80%)
- $89,300
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $59,400
- Low (80%)
- $95,050
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $18,900 | $31,500 | $50,400 |
| 2 Persons | $21,600 | $36,000 | $57,600 |
| 3 Persons | $24,300 | $40,500 | $64,800 |
| 4 Persons | $27,000 | $45,000 | $72,000 |
| 5 Persons | $31,040 | $48,600 | $77,800 |
| 6 Persons | $35,580 | $52,200 | $83,550 |
| 7 Persons | $40,120 | $55,800 | $89,300 |
| 8 Persons | $44,660 | $59,400 | $95,050 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in North Chesterfield, VA?+
The Fair Market Rent (FMR) for Chesterfield County, VA is: $1328 (Studio), $1365 (1BR), $1532 (2BR), $1959 (3BR), $2393 (4BR). Actual rent at subsidized properties like Market Square Ii is typically 30% of household income or less.
What size apartments are available at Market Square Ii?+
Market Square Ii offers the following unit types: 35 One-Bedroom, 7 Two-Bedroom units, for a total of 42 units.
Who manages Market Square Ii?+
Market Square Ii is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Market Square Ii?+
Market Square 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 Chesterfield County, VA?+
For a 4-person household in Chesterfield County, VA, the income limits are: Extremely Low Income (30% AMI): $27,000, Very Low Income (50% AMI): $45,000, Low Income (80% AMI): $72,000. These limits are set by HUD and updated annually.
What is the price range for apartments in North Chesterfield, VA?+
Based on Fair Market Rent for Chesterfield County, the estimated price range is: 1-bedroom: $1365, 2-bedroom: $1532. Actual rent at Market Square Ii may be lower for income-eligible households.
Who is eligible to live at Market Square Ii?+
Market Square Ii primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
More Affordable Housing Near Market Square Ii
Forest Creek
Richmond, VA
94 UnitsMarket Square Iii
North Chesterfield, VA
69 UnitsChester Village Green
Chester, VA
163 UnitsCountryside Richmond
Richmond, VA
59 UnitsCountryside (Richmond)
Richmond, VA
59 UnitsIvy Walk I
North Chesterfield, VA
126 Units