Fairweather Apartments - Salem

40 R Highland Avenue , Salem, Massachusetts 01970

Contact Fairweather Apartments - Salem

Fairweather Salem is one property in a four-site development in Beverly, Danvers, Peabody and Salem. The six-story building is close to the North Shore Medical Center and a major Salem roadway with many shopping areas. Local bus and commuter rail service are nearby. Fairweather Salem includes a mix of studio and one-bedroom apartments; utility costs are included in the rent. Its amenities include wireless internet access, a computer center, library, game room, community room with kitchen, laundry and parking on-site. Rent subsidies are available for income-qualified residents. Professional on-site management, with 24-hour emergency response, is offered by Preservation Housing Management.

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	416	$675
One Bedroom (1/1)	380	$600

Eligibility for Fairweather Apartments - Salem

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Salem but actual income limits may differ for units at Fairweather Apartments - Salem.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30%	$31,150	$35,600	$40,050	$44,500	$48,100	$51,650	$55,200	$58,750
50%	$51,950	$59,400	$66,800	$74,200	$80,150	$86,100	$92,050	$97,950
80%	$82,950	$94,800	$106,650	$118,450	$127,950	$137,450	$146,900	$156,400

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 Salem but actual income limits may differ for units at Fairweather Apartments - Salem.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$51,950	$59,400	$66,800	$74,200	$80,150	$86,100	$92,050	$97,950
Low Income (60%)	$62,340	$71,280	$80,160	$89,040	$96,180	$103,320	$110,460	$117,540

Fairweather Apartments - Salem Details

318 studio and one bedroom units.
Section 8 Project-Based Rental Assistance (PBRA)
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)
Section 236

Property Amenities

Laundry Room
24hr Emergency Maintenance

Unit Amenities

Air Conditioning
Cable Ready
Window Coverings
Carpet
Refrigerator

Nearby Amenities

Close to Dining
Close to Shopping

Section 8 Project-Based Rental Assistance (PBRA)

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.

Low-Income Housing Tax Credit (LIHTC)

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.

Section 236

Apartment communities that participate in the Section 236 program are required to ensure that their units are only available to families with incomes at or below 80% of the area median income. Rents at participating communities must be approved by HUD.