Sherwood Apartments is managed by Monroe Group Ltd..
Discover Sherwood Apartments where you can find comfortable and affordable living for your entire family. Our family property offers a mix of three and four-bedroom apartments. Sherwood is conveniently located on High Street at the intersection of Route 2, just south of Cascade Leisure Park Road in Farmington, close to shopping and dining. Farmington offers over 10 miles of trails within walking distance of this property and is also home to the University of Maine at Farmington.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
3 Bedroom (3/1) | - | Income Based |
4 Bedroom (4/1) | - | Income Based |
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Farmington but actual income limits may differ for units at Sherwood Apartments.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
Very Low Income (50%) | $26,550 | $30,350 | $34,150 | $37,900 | $40,950 | $44,000 | $47,000 | $50,050 |
Low Income (60%) | $31,860 | $36,420 | $40,980 | $45,480 | $49,140 | $52,800 | $56,400 | $60,060 |
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.