About This Property
Stonegate Lee Co offers 36 low-income units in Pennington Gap, Virginia, serving families with a mix of 12 one-bedroom and 24 two-bedroom apartments. The property has been in service since 2006 and utilizes 9% Low-Income Housing Tax Credits to maintain affordability. The development provides rental housing options for households in Lee County.
Property Details
Fair Market Rent - Lee 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 | $739 |
| 1 Bedroom | $775 |
| 2 Bedroom | $905 |
| 3 Bedroom | $1,157 |
| 4 Bedroom | $1,388 |
Income Limits - Lee 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 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Pennington Gap, VA?+
The Fair Market Rent (FMR) for Lee County, VA is: $739 (Studio), $775 (1BR), $905 (2BR), $1157 (3BR), $1388 (4BR). Actual rent at subsidized properties like Stonegate Lee Co is typically 30% of household income or less.
What size apartments are available at Stonegate Lee Co ?+
Stonegate Lee Co offers the following unit types: 12 One-Bedroom, 24 Two-Bedroom units, for a total of 36 units.
Who is eligible to live at Stonegate Lee Co ?+
Stonegate Lee Co 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 Pennington Gap, VA?+
Based on Fair Market Rent for Lee County, the estimated price range is: 1-bedroom: $775, 2-bedroom: $905. Actual rent at Stonegate Lee Co may be lower for income-eligible households.
What are the income limits for affordable housing in Lee County, VA?+
For a 4-person household in Lee 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.
How do I apply for housing at Stonegate Lee Co ?+
Stonegate Lee Co 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 Stonegate Lee Co ?+
Stonegate Lee Co is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
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Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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