Madras Estates Apartments

242 SW 3rd Street, Madras, Oregon 97741

Contact Madras Estates Apartments

Madras Estates features spacious 1 bedroom apartments in a beautiful community setting. You will notice immediately that quality is the difference and at a price you can afford.

Come in and see our professional management team today. They would love to show you around, so you can see for yourself why Madras Estates is the affordable solution for comfortable, quality living.

Unit (Bd/Ba)	Ft²	Rent
One Bed One Bath (1/1)	-	Call for Price

Eligibility for Madras Estates Apartments

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 Madras but actual income limits may differ for units at Madras Estates Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$26,600	$30,400	$34,200	$38,000	$41,050	$44,100	$47,150	$50,200
Low Income (60%)	$31,920	$36,480	$41,040	$45,600	$49,260	$52,920	$56,580	$60,240

Madras Estates Apartments Details

24 one bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 515 Rural Rental Housing
Section 521 USDA Rental Assistance

Property Amenities

Controlled Access
Elevator
Community Room
Rural Area

Unit Amenities

Air Conditioning
Cable Ready
Window Coverings
Carpet
Refrigerator

Nearby Amenities

Close to Dining
Close to Public Transportation
Close to Shopping
Near Library
Near Park
Near Schools

Office Hours

Day	Hours
Monday	9:00am-1:00pm
Tuesday	9:00am-1:00pm
Wednesday	9:00am-1:00pm
Thursday	9:00am-1:00pm
Friday	9:00am-1:00pm

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 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.