About This Property
Lee Terrace offers 40 low-income units in Pennington Gap, Virginia, serving elderly residents with a mix of 39 one-bedroom and one two-bedroom apartments. The property was placed in service in 1995 and utilizes 9% Low-Income Housing Tax Credits to maintain affordability. Residents can contact the management office for leasing information and inquiries.
Property Details
Fair Market Rent - Lee 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 | $739 |
| 1 Bedroom | $775 |
| 2 Bedroom | $905 |
| 3 Bedroom | $1,157 |
| 4 Bedroom | $1,388 |
Income Limits - Lee 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 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Pennington Gap, VA?+
The Fair Market Rent (FMR) for Lee County, VA is: $739 (Studio), $775 (1BR), $905 (2BR), $1157 (3BR), $1388 (4BR). Actual rent at subsidized properties like Lee Terrace is typically 30% of household income or less.
What size apartments are available at Lee Terrace?+
Lee Terrace offers the following unit types: 39 One-Bedroom, 1 Two-Bedroom units, for a total of 40 units.
Who manages Lee Terrace?+
Lee Terrace is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Lee County, VA?+
For a 4-person household in Lee 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.
What is the price range for apartments in Pennington Gap, VA?+
Based on Fair Market Rent for Lee County, the estimated price range is: 1-bedroom: $775, 2-bedroom: $905. Actual rent at Lee Terrace may be lower for income-eligible households.
Who is eligible to live at Lee Terrace?+
Lee Terrace 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 Lee Terrace?+
Lee Terrace 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.
Contact Information
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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