About This Property
Commonwealth Apts offers 26 low-income units in Wise, VA, comprising ten 1-bedroom and sixteen 2-bedroom apartments that serve families. Placed in service in 2012, the property is funded through 9% Low-Income Housing Tax Credits. For more information, contact the property management office.
Property Details
Fair Market Rent - Wise 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 | $730 |
| 1 Bedroom | $734 |
| 2 Bedroom | $905 |
| 3 Bedroom | $1,234 |
| 4 Bedroom | $1,536 |
Income Limits - Wise 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 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Wise, VA?+
The Fair Market Rent (FMR) for Wise County, VA is: $730 (Studio), $734 (1BR), $905 (2BR), $1234 (3BR), $1536 (4BR). Actual rent at subsidized properties like Commonwealth Apts is typically 30% of household income or less.
What size apartments are available at Commonwealth Apts?+
Commonwealth Apts offers the following unit types: 10 One-Bedroom, 16 Two-Bedroom units, for a total of 26 units.
How do I apply for housing at Commonwealth Apts?+
Commonwealth Apts 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 Wise County, VA?+
For a 4-person household in Wise 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 Wise, VA?+
Based on Fair Market Rent for Wise County, the estimated price range is: 1-bedroom: $734, 2-bedroom: $905. Actual rent at Commonwealth Apts may be lower for income-eligible households.
Who is eligible to live at Commonwealth Apts?+
Commonwealth Apts primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Commonwealth Apts?+
Commonwealth Apts is managed by . You can reach them at . Visit their website for more 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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