About This Property
Spruce Hill offers 36 low-income housing units in Floyd, Virginia, serving elderly residents. The property has been in service since 2014 and is owned and operated by a non-profit organization. Financing for the development includes HOME funds and 9% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Floyd 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 | $725 |
| 1 Bedroom | $730 |
| 2 Bedroom | $905 |
| 3 Bedroom | $1,212 |
| 4 Bedroom | $1,217 |
Income Limits - Floyd County, VA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,400
- Very Low (50%)
- $22,300
- Low (80%)
- $35,650
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,450
- Low (80%)
- $40,750
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $28,650
- Low (80%)
- $45,850
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $31,800
- Low (80%)
- $50,900
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $34,350
- Low (80%)
- $55,000
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $36,900
- Low (80%)
- $59,050
- Extremely Low (30%)
- $39,450
- Very Low (50%)
- $39,450
- Low (80%)
- $63,150
- Extremely Low (30%)
- $42,000
- Very Low (50%)
- $42,000
- Low (80%)
- $67,200
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,400 | $22,300 | $35,650 |
| 2 Persons | $17,420 | $25,450 | $40,750 |
| 3 Persons | $21,960 | $28,650 | $45,850 |
| 4 Persons | $26,500 | $31,800 | $50,900 |
| 5 Persons | $31,040 | $34,350 | $55,000 |
| 6 Persons | $35,580 | $36,900 | $59,050 |
| 7 Persons | $39,450 | $39,450 | $63,150 |
| 8 Persons | $42,000 | $42,000 | $67,200 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Floyd, VA?+
The Fair Market Rent (FMR) for Floyd County, VA is: $725 (Studio), $730 (1BR), $905 (2BR), $1212 (3BR), $1217 (4BR). Actual rent at subsidized properties like Spruce Hill is typically 30% of household income or less.
What are the income limits for affordable housing in Floyd County, VA?+
For a 4-person household in Floyd County, VA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $31,800, Low Income (80% AMI): $50,900. These limits are set by HUD and updated annually.
Who manages Spruce Hill?+
Spruce Hill is managed by . You can reach them at .
How do I apply for housing at Spruce Hill?+
Spruce Hill 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 is eligible to live at Spruce Hill?+
Spruce Hill 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.