Prospect Homes

746 Prospect Ave, Charlottesville, Virginia 22980

Contact Prospect Homes

The community is centrally located to downtown, the University of Virginia, and the local bus line.

The entire community underwent extensive interior and exterior renovations that improved the overall property to make it a more desirable place to live.

Unit (Bd/Ba)	Ft²	Rent
3 Bedroom (3/1)	-	Call for Price

Eligibility for Prospect Homes

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 Charlottesville but actual income limits may differ for units at Prospect Homes.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
30%	$23,350	$26,650	$30,000	$33,300	$36,000	$40,280
50%	$38,850	$44,400	$49,950	$55,500	$59,950	$64,400
80%	$62,200	$71,050	$79,950	$88,800	$95,950	$103,050

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 Charlottesville but actual income limits may differ for units at Prospect Homes.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$38,850	$44,400	$49,950	$55,500	$59,950	$64,400

Prospect Homes Details

13 three bedroom units.
Section 202 Supportive Housing for the Elderly

Property Amenities

Computer Lab
Community Room
Library
Laundry Facilities

Section 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.