About This Property
Rivertrace Apts offers 33 low-income units in Madison, IN, with a mix of 27 one-bedroom and 6 two-bedroom apartments. The property has been in service since 2001 and currently operates in Jefferson County.
Property Details
Fair Market Rent - Jefferson County, IN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $643 |
| 1 Bedroom | $740 |
| 2 Bedroom | $865 |
| 3 Bedroom | $1,099 |
| 4 Bedroom | $1,468 |
Income Limits - Jefferson County, IN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,050
- Very Low (50%)
- $23,400
- Low (80%)
- $37,450
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $26,750
- Low (80%)
- $42,800
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $30,100
- Low (80%)
- $48,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $33,400
- Low (80%)
- $53,450
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $36,100
- Low (80%)
- $57,750
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $38,750
- Low (80%)
- $62,050
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $41,450
- Low (80%)
- $66,300
- Extremely Low (30%)
- $44,100
- Very Low (50%)
- $44,100
- Low (80%)
- $70,600
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,050 | $23,400 | $37,450 |
| 2 Persons | $17,420 | $26,750 | $42,800 |
| 3 Persons | $21,960 | $30,100 | $48,150 |
| 4 Persons | $26,500 | $33,400 | $53,450 |
| 5 Persons | $31,040 | $36,100 | $57,750 |
| 6 Persons | $35,580 | $38,750 | $62,050 |
| 7 Persons | $40,120 | $41,450 | $66,300 |
| 8 Persons | $44,100 | $44,100 | $70,600 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Madison, IN?+
The Fair Market Rent (FMR) for Jefferson County, IN is: $643 (Studio), $740 (1BR), $865 (2BR), $1099 (3BR), $1468 (4BR). Actual rent at subsidized properties like Rivertrace Apts is typically 30% of household income or less.
What size apartments are available at Rivertrace Apts?+
Rivertrace Apts offers the following unit types: 27 One-Bedroom, 6 Two-Bedroom units, for a total of 33 units.
What is the price range for apartments in Madison, IN?+
Based on Fair Market Rent for Jefferson County, the estimated price range is: 1-bedroom: $740, 2-bedroom: $865. Actual rent at Rivertrace Apts may be lower for income-eligible households.
What are the income limits for affordable housing in Jefferson County, IN?+
For a 4-person household in Jefferson County, IN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $33,400, Low Income (80% AMI): $53,450. These limits are set by HUD and updated annually.
Who manages Rivertrace Apts?+
Rivertrace Apts is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Rivertrace Apts?+
Rivertrace 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.
Walk Score
Very Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.