About This Property
Cotton Mill is a 40-unit affordable housing community in Stuart, VA that serves elderly residents. The property contains thirty-nine low-income units and was placed in service in 2012. All units are one-bedroom floor plans, and the property utilizes 9% LIHTC credits.
Property Details
Fair Market Rent - Patrick 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 | $776 |
| 2 Bedroom | $905 |
| 3 Bedroom | $1,094 |
| 4 Bedroom | $1,388 |
Income Limits - Patrick 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 Stuart, VA?+
The Fair Market Rent (FMR) for Patrick County, VA is: $739 (Studio), $776 (1BR), $905 (2BR), $1094 (3BR), $1388 (4BR). Actual rent at subsidized properties like Cotton Mill is typically 30% of household income or less.
What size apartments are available at Cotton Mill?+
Cotton Mill offers the following unit types: 40 One-Bedroom units, for a total of 40 units.
What is the price range for apartments in Stuart, VA?+
Based on Fair Market Rent for Patrick County, the estimated price range is: 1-bedroom: $776. Actual rent at Cotton Mill may be lower for income-eligible households.
Who is eligible to live at Cotton Mill?+
Cotton Mill primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Cotton Mill?+
Cotton Mill is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Patrick County, VA?+
For a 4-person household in Patrick 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 Cotton Mill?+
Cotton Mill 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
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.