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 |
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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 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.
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.
Walk Score
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Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.