About This Property
Preston Place offers 236 low-income residential units in Winchester, Virginia, serving families in need of affordable housing. The property has been in service since 2014 and utilizes 4% Low-Income Housing Tax Credits combined with tax-exempt bond financing to maintain affordability.
Property Details
Fair Market Rent - Frederick 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 | $983 |
| 1 Bedroom | $1,104 |
| 2 Bedroom | $1,390 |
| 3 Bedroom | $1,734 |
| 4 Bedroom | $2,347 |
Income Limits - Frederick County, VA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $17,100
- Very Low (50%)
- $28,500
- Low (80%)
- $45,600
- Extremely Low (30%)
- $19,550
- Very Low (50%)
- $32,600
- Low (80%)
- $52,100
- Extremely Low (30%)
- $22,000
- Very Low (50%)
- $36,650
- Low (80%)
- $58,600
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $40,700
- Low (80%)
- $65,100
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $44,000
- Low (80%)
- $70,350
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $47,250
- Low (80%)
- $75,550
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $50,500
- Low (80%)
- $80,750
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $53,750
- Low (80%)
- $85,950
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $17,100 | $28,500 | $45,600 |
| 2 Persons | $19,550 | $32,600 | $52,100 |
| 3 Persons | $22,000 | $36,650 | $58,600 |
| 4 Persons | $26,500 | $40,700 | $65,100 |
| 5 Persons | $31,040 | $44,000 | $70,350 |
| 6 Persons | $35,580 | $47,250 | $75,550 |
| 7 Persons | $40,120 | $50,500 | $80,750 |
| 8 Persons | $44,660 | $53,750 | $85,950 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Winchester, VA?+
The Fair Market Rent (FMR) for Frederick County, VA is: $983 (Studio), $1104 (1BR), $1390 (2BR), $1734 (3BR), $2347 (4BR). Actual rent at subsidized properties like Preston Place is typically 30% of household income or less.
What are the income limits for affordable housing in Frederick County, VA?+
For a 4-person household in Frederick County, VA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $40,700, Low Income (80% AMI): $65,100. These limits are set by HUD and updated annually.
How do I apply for housing at Preston Place?+
Preston Place 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 Preston Place?+
Preston Place primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Preston Place?+
Preston Place is managed by . You can reach them at . Visit their website for more 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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