About This Property
Riverwood offers 83 low-income rental units in Colonial Beach, Virginia, serving families through a mix of one, two, and three-bedroom apartments. The property has been in service since 2016 and is financed through the 9% Low-Income Housing Tax Credit program. The unit distribution includes 27 one-bedroom, 32 two-bedroom, and 24 three-bedroom apartments.
Property Details
Fair Market Rent - Westmoreland 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 | $892 |
| 1 Bedroom | $897 |
| 2 Bedroom | $1,113 |
| 3 Bedroom | $1,568 |
| 4 Bedroom | $1,798 |
Income Limits - Westmoreland County, VA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,150
- Very Low (50%)
- $26,900
- Low (80%)
- $43,050
- Extremely Low (30%)
- $18,450
- Very Low (50%)
- $30,750
- Low (80%)
- $49,200
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,600
- Low (80%)
- $55,350
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $38,400
- Low (80%)
- $61,450
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $41,500
- Low (80%)
- $66,400
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $44,550
- Low (80%)
- $71,300
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $47,650
- Low (80%)
- $76,200
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $50,700
- Low (80%)
- $81,150
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,150 | $26,900 | $43,050 |
| 2 Persons | $18,450 | $30,750 | $49,200 |
| 3 Persons | $21,960 | $34,600 | $55,350 |
| 4 Persons | $26,500 | $38,400 | $61,450 |
| 5 Persons | $31,040 | $41,500 | $66,400 |
| 6 Persons | $35,580 | $44,550 | $71,300 |
| 7 Persons | $40,120 | $47,650 | $76,200 |
| 8 Persons | $44,660 | $50,700 | $81,150 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Colonial Beach, VA?+
The Fair Market Rent (FMR) for Westmoreland County, VA is: $892 (Studio), $897 (1BR), $1113 (2BR), $1568 (3BR), $1798 (4BR). Actual rent at subsidized properties like Riverwood is typically 30% of household income or less.
What size apartments are available at Riverwood?+
Riverwood offers the following unit types: 27 One-Bedroom, 32 Two-Bedroom, 24 Three-Bedroom units, for a total of 83 units.
How do I apply for housing at Riverwood?+
Riverwood 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 manages Riverwood?+
Riverwood is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Colonial Beach, VA?+
Based on Fair Market Rent for Westmoreland County, the estimated price range is: 1-bedroom: $897, 2-bedroom: $1113, 3-bedroom: $1568. Actual rent at Riverwood may be lower for income-eligible households.
What are the income limits for affordable housing in Westmoreland County, VA?+
For a 4-person household in Westmoreland County, VA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $38,400, Low Income (80% AMI): $61,450. These limits are set by HUD and updated annually.
Who is eligible to live at Riverwood?+
Riverwood primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.