About This Property
Poplar Ridge contains 16 low-income units in Madison, Virginia, comprised of eight one-bedroom and eight two-bedroom apartments that serve families. The property has been in service since 2005 and utilizes 9% Low-Income Housing Tax Credits. Property management can be contacted for additional information about availability and lease terms.
Property Details
Fair Market Rent - Madison 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 | $786 |
| 1 Bedroom | $792 |
| 2 Bedroom | $1,040 |
| 3 Bedroom | $1,285 |
| 4 Bedroom | $1,526 |
Income Limits - Madison County, VA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,300
- Very Low (50%)
- $22,200
- Low (80%)
- $35,500
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,400
- Low (80%)
- $40,600
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $28,550
- Low (80%)
- $45,650
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $31,700
- Low (80%)
- $50,700
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $34,250
- Low (80%)
- $54,800
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $36,800
- Low (80%)
- $58,850
- Extremely Low (30%)
- $39,350
- Very Low (50%)
- $39,350
- Low (80%)
- $62,900
- Extremely Low (30%)
- $41,850
- Very Low (50%)
- $41,850
- Low (80%)
- $66,950
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,300 | $22,200 | $35,500 |
| 2 Persons | $17,420 | $25,400 | $40,600 |
| 3 Persons | $21,960 | $28,550 | $45,650 |
| 4 Persons | $26,500 | $31,700 | $50,700 |
| 5 Persons | $31,040 | $34,250 | $54,800 |
| 6 Persons | $35,580 | $36,800 | $58,850 |
| 7 Persons | $39,350 | $39,350 | $62,900 |
| 8 Persons | $41,850 | $41,850 | $66,950 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Madison, VA?+
The Fair Market Rent (FMR) for Madison County, VA is: $786 (Studio), $792 (1BR), $1040 (2BR), $1285 (3BR), $1526 (4BR). Actual rent at subsidized properties like Poplar Ridge is typically 30% of household income or less.
What size apartments are available at Poplar Ridge?+
Poplar Ridge offers the following unit types: 8 One-Bedroom, 8 Two-Bedroom units, for a total of 16 units.
Who is eligible to live at Poplar Ridge?+
Poplar Ridge primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in Madison, VA?+
Based on Fair Market Rent for Madison County, the estimated price range is: 1-bedroom: $792, 2-bedroom: $1040. Actual rent at Poplar Ridge may be lower for income-eligible households.
Who manages Poplar Ridge?+
Poplar Ridge is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Poplar Ridge?+
Poplar Ridge 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 Madison County, VA?+
For a 4-person household in Madison County, VA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $31,700, Low Income (80% AMI): $50,700. These limits are set by HUD and updated annually.
Walk Score
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