About This Property
Graystone offers 136 low-income units in Richmond, VA, with a unit mix of 23 one-bedroom, 110 two-bedroom, and 3 three-bedroom apartments. The property has been in service since 2002 and utilizes 4% LIHTC financing along with tax-exempt bonds. The community serves families seeking affordable rental housing.
Waitlist Information
Waitlist managed by Virginia Housing Development Authority
The waiting list closed on May 10, 2026. Families are selected based on preferences and in date/time order.
The waiting list is currently closed. Applications must be submitted online when the waitlist opens. Local housing agencies advertise openings in local newspapers and on the Virginia Housing website.
Waitlist data provided by section8waitlist.org
Updated June 18, 2026
Property Details
Fair Market Rent - Richmond City 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 - Richmond City 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 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Richmond, VA?+
The Fair Market Rent (FMR) for Richmond City County, VA is: $1328 (Studio), $1365 (1BR), $1532 (2BR), $1959 (3BR), $2393 (4BR). Actual rent at subsidized properties like Graystone is typically 30% of household income or less.
What size apartments are available at Graystone?+
Graystone offers the following unit types: 23 One-Bedroom, 110 Two-Bedroom, 3 Three-Bedroom units, for a total of 136 units.
Who manages Graystone?+
Graystone is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Graystone?+
Graystone 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.
Who is eligible to live at Graystone?+
Graystone 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 Richmond, VA?+
Based on Fair Market Rent for Richmond City County, the estimated price range is: 1-bedroom: $1365, 2-bedroom: $1532, 3-bedroom: $1959. Actual rent at Graystone may be lower for income-eligible households.
What are the income limits for affordable housing in Richmond City County, VA?+
For a 4-person household in Richmond City 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.
Is there a waitlist for Graystone?+
Public Housing waitlist is currently Closed. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
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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